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<br />OFFICIAL TERMS OF OFFERING
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<br />$1,490,000
<br />CITY OF MOUNDS VIEW, MINNESOTA
<br />TAXABLE GENERAL OBUGATlON TAX INCREMENT BONDS, SERIES 1989C
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<br />Sealed bids. for the Bonds will be received by the City or its designee on Monday,
<br />September 25, 1989, until 11 :00 A.M., Central Time, at the offices of SPRINGSTED
<br />Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, Minnesota after which time they will
<br />be opened and tabulated. Consideration for award of the Bonds will be by the City Council at
<br />7:00 P.M., Central Time, of the same day.
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<br />DETAILS OF THE BONDS
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<br />The Bonds will be dated November 1, 1989, as the date of original issue, and will bear interest
<br />payable on February 1 and August 1 of each year, commencing February 1, 1990. Interest will
<br />be computed on the basis of a 360-day year of twelve 3O-day months and will be rounded
<br />pursuant to rules of the MSRB. The Bonds will be issued In the denomination of $5,000 each,
<br />or in integral multiples thereof, as requested by the purchaser, and fully registered as to
<br />principal and interest. Principal will be payable at the main corporate office of the registrar and
<br />interest on each Bond will be payable by check or draft of the registrar mailed to the registered
<br />holder thereof at the holder's address as it appears on the books of the registrar as of the
<br />close of business on the 15th day of the immediately preceding month.
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<br />The Bonds will mature February 1 in the years and amounts as follows:
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<br />1997 $ 90,000
<br />1998 $ 95,000
<br />1999 $105,000
<br />2000 $110,000
<br />2001 $125,000
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<br />OPTIONAL REDEMPTION
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<br />The City may elect on February 1,1997, and on any day thereafter, to prepay Bonds due on or
<br />after February 1, 1998. Redemption may be in whole or In part and if In part, in Inverse order of
<br />maturity and within a maturity by lot as selected by the registrar. All prepayments shall be at a
<br />price of par and accrued interest.
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<br />1992 $ 25,000
<br />1993 $100,000
<br />1994 $ 70,000
<br />1995 $ 75,000
<br />1996 $ 80,000
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<br />2002 $135,000
<br />2003 $145,000
<br />2004 $160,000
<br />2005 $175,000
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<br />SECURITY AND PURPOSE
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<br />The Bonds will be general obligations of the City for which the City will pledge its full faith and
<br />credit and power to levy direct general ad valorem taxes. In addition the City will pledge tax
<br />increment income from the City's Tax Increment Development District NO.2. The proceeds will
<br />be used to finance private costs associated with development within Development District
<br />NO.2.
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<br />TAXABILITY OF INTEREST
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<br />The interest to be paid on the Bonds is includable in gross income of the recipient for United
<br />States and State of Minnesota income tax purposes, and is subject to Minnesota Corporate
<br />and bank excise taxes measured by net income.
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<br />TYPE OF BID
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<br />Bids shall be for not less than $1,467,650 and accrued interest on the total principal amount of
<br />the Bonds, and shall be accompanied by a certified or cashier's check in the amount of
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