2017-037 Bonding - Laserfiche WebLink

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bidividual purchases of the Bonds may be made in the principal amount of $5,000 or any multiple thereof of a single maturity through book entries made on the books and records of ITC and its participants. Principal and interest are payable by the City through: Northland Trust Services, Inc. Minneapolis, Minnesota (the "Paying Agent/Registrar"), to DTC or its nominee as registered owner of the Bonds. Transfer of principal and interest payments to participants of 13TC will be the responsibility of ITC; transfer of principal and interest payments to beneficial owners by participants will be the responsibility of such participants and other nominees of beneficial owners. The successful bidder, as a condition of delivery of the Bonds, will be required to deposit the bond certificates with ITC. The City will pay reasonable and custornary charges for the services of the Paying Agent/Registrar. Date of Delivery (Estimated to be June 8; 2017 The Bonds are being issued pursuant to Minnesota Statutes, Chapters 429 444 and 475 and. Section 412.301. Proceeds will be used to finance an improvement project, an equipment purchase, a water project, a sewer project, storm water project, and to pay the coasts associated with the issuance of the Bonds: The Bonds are payable from special assessments against benefited property, sewer, water and storm water revenues, and additionally secured by ad valorem taxes on all taxable property within the City. The full faith and credit of the City is pledged to their payment and the City has validly obligated itself to levy ad valorem taxes in the event of any deficiency in the debt service account established for this issue. INTEREST PAYMENTS Interest is due ser ian wally on each. ,January 15 and July 15, commencing January 15, 2018, to registered owners of the Bonds appearing of record in the Bond Register as of the close of business on the first day (whether or not business clay) of the calendar month of such interest payment date. MATURITIES Principal is due annually on January 15, inclusive; in each of the years and amounts as follows: Year Amount Year Amount Year Amount 2019 $725,000 2024 $805000 2029 $355,000 2020 740,000 2025 820,000 2030 370,000 021 750,000 2026 845,000 2031 380,000 2022 770,000 2027 870,000 2032 395,000 2023 785,000 2028 855000 2033 415,000' Proposals for the Bonds may contain a maturity schedule providing for any combination of serial bonds and term bonds, subject to mandatory redemption, so long as the amount of principal maturing or subject to mandatory redemption in each year conforms to the maturity schedule set forth above. INTEREST RATES All rates must be in integral multiples of 1 /20th or 1/8th of 1 %. Rates must be in level or ascending Circler, All. Bonds of the same maturity must bear a single uniform rate from date of issue to maturity.