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THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS
<br />ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS:
<br />TERMS OF PROPOSAL
<br />$3,320,000
<br />CITY OF LINO LAKES, MINNESOTA
<br />GENERAL OBLIGATION WATER REVENUE BONDS, SERIES 1996B
<br />(BOOK ENTRY ONLY)
<br />Proposals for the Bonds will be received on Monday, September 9, 1996, until 12:00 Noon,
<br />Central Time, at the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint
<br />Paul, Minnesota, after which time they will be opened and tabulated. Consideration for award
<br />of the Bonds will be by the City Council at 6:30 P.M., Central Time, of the same day.
<br />SUBMISSION OF PROPOSALS
<br />Proposals may be submitted in a sealed envelope or by fax (612) 223-3002 to Springsted.
<br />Signed Proposals, without final price or coupons, may be submitted to Springsted prior to the
<br />time of sale. The bidder shall be responsible for submitting to Springsted the final Proposal
<br />price and coupons, by telephone (612) 223-3000 or fax (612) 223-3002 for inclusion in the
<br />submitted Proposal. Springsted will assume no liability for the inability of the bidder to reach
<br />Springsted prior to the time of sale specified above. Proposals may also be filed electronically
<br />via PARITY, in accordance with PARITY Rules of Participation and the Terms of Proposal,
<br />within a one-hour period prior to the time of sale established above, but no Proposals will be
<br />received after that time. If provisions in the Terms of Proposal conflict with the PARITY Rules
<br />of Participation, the Terms of Proposal shall control. The normal fee for use of PARITY may be
<br />obtained from PARITY and such fee shall be the responsibility of the bidder. For further
<br />information about PARITY, potential bidders may contact PARITY at 100 116th Avenue SE,
<br />Suite 100, Bellevue, Washington 98004, telephone (206) 635-3545. Neither the City nor
<br />Springsted Incorporated assumes any liability if there is a malfunction of PARITY. All bidders
<br />are advised that each Proposal shall be deemed to constitute a contract between the bidder
<br />and the City to purchase the Bonds regardless of the manner of the Proposal submitted.
<br />DETAILS OF THE BONDS
<br />The Bonds will be dated October 1, 1996, as the date of original issue, and will bear interest
<br />payable on February 1 and August 1 of each year, commencing August 1, 1997. Interest will
<br />be computed on the basis of a 360 -day year of twelve 30 -day months.
<br />The Bonds will mature February 1 in the years and amounts as follows:
<br />1998 $ 85,000
<br />1999 $150,000
<br />2000 $145,000
<br />2001 $155,000
<br />2002 $160,000
<br />2003 $165,000
<br />2004 $175,000
<br />2005 $185,000
<br />2006 $190,000
<br />2007 $200,000
<br />2008 $210,000
<br />2009 $345,000
<br />2010 $365,000
<br />2011 $385,000
<br />2012 $405,000
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