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NOTICE OF SALE
<br />$9,880,000.
<br />GENERAL OBLIGATION BONDS, SERIES 2017A
<br />CITY OF LAKE ELMO, MINN SC
<br />(Book -Entry Only)
<br />NOTICE IS HEREBY GIVEN that these Bonds will be offered for sale according to the following terms:
<br />TIME AND PLACE:
<br />Proposals will be opened by the City's Administrator, or designee, on Tuesday, May 16, 2017, at 10:30 A.M., CT,
<br />at the offices of Northland Securities, Inc., 45 South 7th Street, Suite 2000, Minneapolis, Minnesota 55402.
<br />Consideration of the Proposals for award of the sale will be by the City Council at its meeting at the City Offices
<br />beginning Tuesday, May 16, 2017, at 7:00 P.M., CT.
<br />Proposals may be:
<br />a) submitted to the office of Northland Securities, Inc.,
<br />b) faxed to Northland Securities, Inc. at 612-851-5918,
<br />c) for proposals submitted prior to the sale, the final price and coupon rates may be submitted to Northland
<br />Securities, Inc. by telephone at 612-851-5900 or 612-851-4945, or
<br />d) submitted electronically,
<br />Notice is hereby given that electronic proposals will be received via PARITY', or its successor, in the manner
<br />described below, until 10:30 A.M., CT, on Tuesday, May 16, 2017. Proposals may be submitted electronically via
<br />PARITY"" or its successor, pursuant to this Notice until 10:30 A.M., CT, but no Proposal will be received after the
<br />time for receiving Proposals specified above. To the extent any instructions or directions set forth in PARITY"', or
<br />its successor, conflict with this Notice, the terms of this Notice shall control, For further information about
<br />P,AarryTM, or its successor, potential bidders may contact Northland Securities, Inc. or i-Deal' at 1359 Broadway,
<br />2`1 floor, New York, NY 10018, telephone 212-849-502 1.
<br />Neither the City nor Northland Securities, Inc. assumes any liability if there is a malfunction of PARITyT1' or its
<br />successor. All bidders 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 in which the Proposal is submitted.
<br />The Bonds will be issued by means of a book -entry system with no physical distribution of bond certificates made
<br />to the public. The Bonds will be issued irefully registered form and one bond certificate, representing the aggregate
<br />principal amount of the Bonds maturing in each year, will be registered in the name of Cede & Co. as nominee of
<br />Depository Trust Company{" New York, New York, which will act as securities depository of the Bonds.
<br />The City reserves the right to increase or decrease the principal amount of the Bonds. Any such increase or decrease will be made in
<br />multiples of $5,000 and may be made in any maturity, If any maturity is adjusted, the purchase price will also be adjusted to maintain the
<br />same gross spread,
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