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<br />THE CRY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS ISSUE
<br />ON R'S BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS:
<br />TERMS OF PROPOSAL
<br />52,310,000'
<br />CRY OF MOUNDS VIEW, MINNESOTA
<br />GENERAL OBLIGATION WATER REVENUE REFUNDING BONDS,
<br />SERIES 1993A
<br />Proposals for the Bonds will be received on Monday, May 10, 1993, until 11:00 A.M., Central
<br />Time, at the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul,
<br />Minnesota, after which time they will be opened and tabulated. Consideration for award of the
<br />Bonds will be by the City Council at 7:00 P.M., Central Time, of the same day.
<br />DETAILS OF THE BONDS
<br />The Bonds will be dated June 1, 1993, as the date of original issue, and will bear interest
<br />payable on February 1 and August 1 of each year, commencing February 1, 1994. Interest will
<br />be computed on the basis of a 360-day year of twelve 30-day months. The Bonds will be
<br />issued in the denomination of $5,000 each, or in integral multiples thereof, as requested by the
<br />purchaser, and fully.registered as to principal and interest. Principal will be payable at the main
<br />corporate office of the registrar and interest on each Bond will be .payable by check or draft of
<br />the registrar mailed to the registered holder thereof at the holder's address as it appears on the
<br />books of the registrar as of the close of business on the 15th. day of the immediately preceding
<br />• month.
<br />The Bonds will mature February 1 in the years and amounts as follows:
<br />2001 $130,000 2005. $155,000 2008 $180,000 2011 $215,000
<br />2002 $135,000 2006 $165,000 2009 $195,000 2012 $225,000
<br />2003 $145,000 2007 $170,000 2010 $205,000 2013 $240,000
<br />2004 $150,000
<br />* The City reserves the right, after proposals are opened and prior to award, to increase or reduce the
<br />principal amount of the Bonds offered for sale. Any such increase or reduction will be in a total
<br />amount not to exceed $50,000 and will be made in multiples of $5,000 in any of the maturities. In the
<br />event the principal amount of the Bonds is increased or reduced, any premium offered or any
<br />discount taken will be increased or reduced by a percentage equal to the percentage by which the
<br />principal amount of the Bonds is increased or reduced.
<br />OPTIONAL REDEMPTION
<br />The City may elect on February 1, 2003, and on any day thereafter, to prepay Bonds due on or
<br />after February 1, 2004. Redemption may be in whole or in part and if in part, at the option of
<br />the City and in such order as the City shall determine and within a maturity by lot as selected
<br />by the registrar. All prepayments shall be at a price of par plus accrued interest.
<br />SECURITY AND PURPOSE
<br />The Bonds will be general obligations of the City for which the City wilt pledge its full faith and
<br />credit and power to levy direct general ad valorem taxes. In addition the City will pledge net
<br />revenues of the City's water utility. The proceeds wilt be used to refund in advance of maturity
<br />the 2001 through 2013 maturities of the City's General Obligation Water Revenue Bonds, Series
<br />1991 A, dated May 1, 1991.
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