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5 <br />4925-0715-6784.2 <br />as applicable, if one entity is a corporation and the other entity is a partnership (including direct <br />ownership of the applicable stock or interests by one entity of the other), and <br />(4) “sale date” means the date that the Bonds are awarded by the Issuer to the winning bidder. <br /> <br />ADJUSTMENTS TO PRINCIPAL AMOUNT AFTER PROPOSALS <br /> <br />The Issuer reserves the right to increase or decrease the principal amount of the Bonds. Any such increase <br />or decrease will be made in multiples of $5,000 and may be made in any maturity. If any maturity is <br />adjusted, the purchase price will also be adjusted to maintain the same gross spread. Such adjustments <br />shall be made promptly after the sale and prior to the award of Proposals by the Issuer and shall be at the <br />sole discretion of the Issuer. The successful bidder may not withdraw or modify its Proposal once <br />submitted to the Issuer for any reason, including post-sale adjustment. Any adjustment shall be conclusive <br />and shall be binding upon the successful bidder. <br /> <br />OPTIONAL REDEMPTION <br /> <br />Bonds maturing on and after February 1, 2034 are subject to redemption and prepayment at the option of <br />the Issuer on February 1, 2033 and any date thereafter, at a price of par plus accrued interest. Redemption <br />may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, the maturities and <br />principal amounts within each maturity to be redeemed shall be determined by the Issuer and if only part <br />of the Bonds having a common maturity date are called for prepayment, the specific Bonds to be prepaid <br />shall be chosen by lot by the Bond Registrar. <br /> <br /> <br />CUSIP NUMBERS <br /> <br />If the Bonds qualify for assignment of CUSIP numbers such numbers will be printed on the Bonds, but <br />neither the failure to print such numbers on any Bond nor any error with respect thereto shall constitute <br />cause for a failure or refusal by the successful bidder thereof to accept delivery of and pay for the Bonds <br />in accordance with terms of the purchase contract. The CUSIP Service Bureau charge for the assignment <br />of CUSIP identification numbers shall be paid by the successful bidder. <br /> <br />DELIVERY <br /> <br />Delivery of the Bonds will be within thirty-five days after award, subject to an approving legal opinion by <br />Kutak Rock LLP, Bond Counsel. The legal opinion will be paid by the Issuer and delivery will be <br />anywhere in the continental United States without cost to the successful bidder at DTC. <br /> <br />TYPE OF PROPOSAL <br /> <br />Proposals of not less than $2,157,687.50 (98.75%) and accrued interest on the principal sum of <br />$2,185,000 must be filed with the undersigned prior to the time of sale. Proposals must be unconditional <br />except as to legality. Proposals for the Bonds should be delivered to Northland Securities, Inc. and <br />addressed to: <br /> <br />Clarissa Hadler, Finance Director <br />3880 Laverne Ave. N. <br />Lake Elmo, Minnesota 55042 <br /> <br />A good faith deposit (the “Deposit”) in the amount of $43,700 in the form of a federal wire transfer <br />(payable to the order of the Issuer) is only required from the apparent winning bidder, and must be <br />received within two hours after the time stated for the receipt of Proposals. The apparent winning bidder <br />will receive notification of the wire instructions from the Municipal Advisor promptly after the sale. If