1991-055 Council Resolution - Laserfiche WebLink

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Exhibit A NOTICE OF BOND SALE $4,260,000 GENERAL OBLIGATION TEMPORARY IMPROVEMENT BONDS, SERIES 1991A CITY OF LINO LAKES, ANOKA COUNTY, MINNESOTA NOTICE IS HEREBY GIVEN that sealed bids for the purchase of the above bonds will be received until 10:00, a.m., C.T. on Monday, July 8, 1991, in the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, St. Paul, Minnesota, after which time the bids will be opened and tabulated for consideration by the City Council at a meeting at 6:30 p.m. on the same day. The bonds are offered on the following terms. The bonds will be dated August 1, 1991, will bear interest payable semiannually on each February 1 and August 1, commencing August 1, 1992, and will mature on August 1, 1994. The City may elect on August 1, 1993 or on any day thereafter to prepay bonds due on August 1, 1994. Redemption may be in whole or in part by lot as selected by the registrar. All prepayments shall be at a price of par plus accrued interest. Bidders must specify a price of not less than $4,228,050 plus accrued interest. A legal opinion on the bonds will be furnished by Holmes & Graven, Chartered, Minneapolis, Minnesota. The proceeds of the bonds will be used to finance a portion of the costs of various assessable public improvements in the City. Bidders should be aware that the Official Statement to be distributed for the bonds may contain additional bidding terms and information relative to the bonds. In the event of a variance between statements in this Notice of Bond Sale and the Official Statement bidders must comply with the terms of the latter. BY ORDER OF THE CITY COUNCIL /s/ Marilyn G. Anderson City Clerk -Treasurer Dated: June 10, 1991.