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4110 THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE <br />THIS ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE <br />FOLLOWING BASIS: <br />• <br />• <br />TERMS OF PROPOSAL <br />$1,745,000* <br />CITY OF LINO LAKES, MINNESOTA <br />GENERAL OBLIGATION WATER REVENUE REFUNDING BONDS, SERIES 2006F <br />(BOOK ENTRY ONLY) <br />Proposals for the Bonds will be received on Monday, October 23, 2006, until 10:30 <br />A.M., Central Time, at the offices of Springsted Incorporated, 380 Jackson Street, <br />Suite 300, Saint Paul, Minnesota, after which time they will be opened and tabulated. <br />Consideration for award of the Bonds will be by the City Council at 6:30 P.M., Central <br />Time, of the same day. <br />SUBMISSION OF PROPOSALS <br />Springsted will assume no liability for the inability of the bidder to reach Springsted prior <br />to the time of sale specified above. All bidders are advised that each Proposal shall be <br />deemed to constitute a contract between the bidder and the City to purchase the Bonds <br />regardless of the manner in which the Proposal is submitted. <br />(a) Sealed Bidding. Proposals may be submitted in a sealed envelope or by fax <br />(651) 223 -3046 to Springsted. Signed Proposals, without final price or coupons, may <br />be submitted to Springsted prior to the time of sale. The bidder shall be responsible for <br />submitting to Springsted the final Proposal price and coupons, by telephone <br />(651) 223 -3000 or fax (651) 223 -3046 for inclusion in the submitted Proposal. <br />OR <br />(b) Electronic Bidding. Notice is hereby given that electronic proposals will be <br />received via PARITY°. For purposes of the electronic bidding process, the time as <br />maintained by PARITY° shall constitute the official time with respect to all Bids <br />submitted to PARITY°. Each bidder shall be solely responsible for making necessary <br />arrangements to access PARITY® for purposes of submitting its electronic Bid in a <br />timely manner and in compliance with the requirements of the Terms of Proposal. <br />Neither the City, its agents nor PARITY° shall have any duty or obligation to undertake <br />registration to bid for any prospective bidder or to provide or ensure electronic access to <br />any qualified prospective bidder, and neither the City, its agents nor PARITY° shall be <br />responsible for a bidder's failure to register to bid or for any failure in the proper <br />