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AWARD: Award will be made solely on the <br />basis of lowest dollar interest <br />cost; determined by deduction <br />of any premium from the total interest <br />on all bonds from their date to <br />stated maturity. The net <br />effective average rate of the issue <br />may 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 May 20,1975 <br />BY ORDER OF THE CITY COUNCIL <br />/s/ Donald Mehsikomer <br />City Clerk -Treasurer <br />Additional information <br />may be obtained from: <br />JURAN & MOODY, INC. <br />114 East Seventh Street <br />St. Paul, Minnesota 55101. <br />Telephone No. 612-224-9661 <br />PAGE 4 - EXHIBIT "A" TO R-75-16 <br />