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• <br />• <br />• <br />EXHIBIT A <br />NOTICE OF BOND SALE <br />$1,650,000 <br />GENERAL OBLIGATION TEMPORARY IMPROVEMENT <br />BONDS, SERIES 1987A <br />CITY OF LINO LAKES, <br />ANOKA COUNTY, MINNESOTA <br />NOTICE IS HEREBY GIVEN that sealed bids for the above Bonds will <br />be received until 11:00 a.m., C.T. on Monday, August 24, 1987 at the <br />offices of Springsted Incorporated at which time bids will be opened <br />and tabulated for consideration by the City Council at a meeting at <br />7:00 p.m. on the same day. The Bonds are offered on the following <br />terms. The Bonds will be dated September 1, 1987, will bear interest <br />payable semiannually on each March 1 and September 1, commencing March <br />1, 1988, and will mature on September 1, 1990. <br />The City may elect on September 1, 1989 and on March 1, 1990 to <br />redeem and prepay Bonds of this issue at a price of par plus accrued <br />interest to date of redemption. <br />No rate of interest nor the net effective interest rate of the issue <br />may exceed the maximum rate permitted by law on the day of sale. <br />Bidders must specify a price of not less than $1,633,500 plus accrued <br />interest. A legal opinion on the Bonds will be furnished by LeFevere, <br />Lefler, Kennedy, O'Brien & Drawz, a Professional Association, Minneap- <br />olis, Minnesota. The proceeds of the Bonds will be used to finance a <br />portion of the costs of various assessable public improvements in the <br />City. <br />Bidders should be aware that the Official Terms of Offering to be <br />distributed for the Bonds may contain additional bidding terms and <br />information relative to the Bonds. In the event of a variance between <br />statements in this Notice of Bond Sale and the Official Terms of <br />Offering bidders must comply with the terms of the latter. <br />Dated: July 27, 1987. <br />BY ORDER OF THE CITY COUNCIL <br />/s/ Marilyn G. Anderson <br />City Clerk- Treasurer <br />