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COUNCIL MEETING October 27, 1986 CUSIP NUMBERS If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto will constitute cause for failure or refusal by the Purchaser to accept delivery of the Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the Purchaser. SETTLEMENT 1 Within 40 days following the date of their award, the Bonds will be delivered without cost to the Purchaser at a place mutually satisfactory to the City and the Purchaser. Delivery will be subject to receipt by the Purchaser of an approving legal opinion of LeFevere, Lefler, Kennedy, O'Brien & Drawz, a Professional Association, Minneapolis, Minnesota, which opinion will be printed on the Bonds, and of customary closing papers, including a no- litigation certificate. On the date of settlement payment for the Bonds shall be made in federal, or equivalent, funds which shall be received at the offices of the City, or its designee, not later than 1:00 P.M., Central Time. Except as compliance with the terms of payment for the Bonds shall have been made impossible by action of the City, or its agents, the Purchaser shall be liable to the City for any loss suffered by the City by reason of the Purchaser's non - compliance with said terms for payment. At settlement the Purchaser will be furnished with a certificate, signed by appropriate officers of the City, to the effect that the Official Statement did not as of the date of the Official Statement, and does not as of the date of settlement, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. OFFICIAL STATEMENT Underwriters may obtain a copy of the Official Statement by request to the City's Financial Advisor prior to the bid opening. The Purchaser will be provided with 15 copies of the Official Statement. 3. The City Clerk- Treasurer is authorized and directed to advertise the Bonds for sale in accordance with the foregoing Official Terms of Bond Sale and to cause the abbreviated notice of sale attached hereto as Exhibit A, to be published in the manner required by law. The City Council shall meet on Monday, November 24, 1986 at 7:00 o'clock P.M. for the purpose of considering sealed bids on the Bonds and taking any other appropriate action. The Resolution was presented by Councilman Marier who moved its adopt- ion, the reading of which was dispensed with by unanimous consent. The Motion for the adoption of the foregoing Resolution was duly sec- onded by Councilman Bohjanen and upon vote being taken thereon, the following voted in favor of the motion: Marier, Bohjanen, Bisel and Mayor Benson and the following voted against: none where upon said Resolution was declared duly passed and adopted. Dated: Oct oof,r 27, 1986