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cost to the purchaser. Legal <br />opinion will be printed on the bonds <br />at the option of the purchaser. <br />TYPE OF BID: Sealed bids of not less than $119,621.00 <br />and accrued interest on the principal <br />sum of $122,000 from date of bonds to <br />date of delivery must be filed with the <br />undersigned prior to the time of sale, <br />together with a certified or cashier's <br />check in the amount of $2,440.00, payable <br />to the order of the Treasurer of the <br />issuer, to be forfeited as liquidated <br />damages if bidder fails to comply with <br />accepted bid. Bids for the bonds should <br />be addressed to: Donald Mehsikomer, <br />Village Clerk, Village Hall, Lake Elmo, <br />Minnesota. <br />RATES: All rates and combination of rates <br />must be in integral multiples of <br />1/20th of .1% and may not exceed 7% per <br />annum. Additional interest coupons <br />may not be used. No limitation is <br />placed upon the number of rates which <br />may be used. <br />AWARD: Award will be made solely on the basis <br />of lowest dollar interest cost, deter- <br />mined by addition of any discount to <br />and deduction of any premium from the <br />total interest on all bonds from their <br />date to their stated maturity. The net <br />effective average rate of the issue may <br />not exceed 7% per annum. <br />The issuer reserves the right to .reject any and all bids, to <br />waive informalities, and to adjourn the sale. <br />Dated: August 4, 1970 BY ORDER OF THE VILLAGE COUNCIL <br />Additional information <br />may be obtained from: <br />JURA.N & MOODY, INC. /s/ <br />114 East Seventh Street Clerk <br />St. Paul, Minnesota 55101 _ <br />612-224-9661 <br />