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7 <br />4925-0715-6784.2 <br />successful bidder, except that, if the Issuer has requested and received a rating on the Bonds from a rating <br />agency, the Issuer will pay that rating fee. Any other rating agency fees shall be the responsibility of the <br />successful bidder. Failure of the municipal bond insurer to issue the policy after the Bonds have been <br />awarded to the successful bidder shall not constitute cause for failure or refusal by the successful bidder <br />to accept delivery on the Bonds. <br /> <br />The Issuer reserves the right to reject any and all Proposals, to waive informalities and to adjourn the sale. <br /> <br />Dated: June 17, 2025 BY ORDER OF THE LAKE ELMO CITY COUNCIL <br /> <br />/s/ Clarissa Hadler <br />Finance Director <br /> <br />Additional information may be obtained from: <br />Northland Securities, Inc. <br />150 South 5th Street, Suite 3300 <br />Minneapolis, Minnesota 55402 <br />Telephone No.: 612-851-5900 <br /> <br /> <br /> <br />