05/26/1998 Council Packet - Laserfiche WebLink

Home Search

ISSUE City HAS AUTHORIZED SPRINGSTED INCORPORATED THE FOLLOWING O NEGOTIATE gpS BASIS: IsSUE oN ITS BEHALF. PROPOSALS WILL BE RECEIVED TERMS OF PROPOSAL $2,000.000 CITY OF LINO LAKES. MINNESOTA GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 19988 (BOOK ENTRY ONLY) June 22, 1998, until 11:30 A.M -. Central Time. a is for the Bonds will st received In Incorporated. on Monday. gated Consideration la Place. Suite for award of the the offices of Springsted inwrporated, l35 East Seventh Place. Sude 100. Saint Paul Minn, at th will be opened and tabu Minnesota, after which time they Bonds will be by the City Council at 6:30 P.M., Central Time. of the same day. SUBMISSION OF PROPOSALS submitted to 5pringsted prior to the Proposals may be submitted in a sealed enveloped r b fax (612) 223 -3002 to Springste . Prop coupons, Y time sale. al9. without hail price sp cns ble for submitting to Springsted the final Proposal time of sale. the bidder shall be responsible price and coupons. by telephone (612) 223-3000 afo�the Inability tlof the bidder In the p nn sted will assume liability submitted proposal. Sp 9 purchase the Bonds S rin sted prior to the time of sale specified above. bidder and the � to p that each Proposal regardless deemed f the tmanner f the Proposal bs submitted. regardless DETAILS OF THE BONDS The Bonds will be dated August 1. 1998, as the date nomQngina issue. and will bear Interest e I payable on February 1 and August 1 of earn year. 30-day months. be computed on the basis of a 360 -day y The Bonds will mature February 1 in the years and amounts as foliows: 2009 5135.000 2013 $155,000 2001 $ +15.000 Zoos $120.000 2010 slao,oao 2014 X150.000 2002 s+lo.000 Zoos s120.000 2011 5145,000 2015 s17o.oao 2003 51+0.000 2007 512$.000 2012 $150000 2004 5115.000 2008 5130.000 Proposals for the Bonds may contain a maturity schedule providing for a combination of serial bonds ds a and term bonds, provided that no serial bond! may mature nd shall be subject to mandatory sinking fund redemption date of any term bond. schedule set forth above at a price of sinking fund redemption and must conform to the maturity order to designate term bonds. the par plus accrued interest to the date of redemption, ra sal must specify '"Last Year of Serial Maturities" and "Years of Term Maturities' in the spaces provided on the Proposal Form. -i - nI. uanvPn 9 An7uou -woi4 wdVI :E0 86- 61 -keW