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APPENDIX B
<br />OFFICIAL NOTICE OF SALE
<br />TAXABLE GENERAL OBLIGATION TAX INCREMENT BONDS, SERM 1988A
<br />C19R OF MOUNDS VDfW, MINNESOTA
<br />Notice is hereby given that the City of Mounds View, Minnesota (the "City")
<br />will receive sealed bids at the offices of Springsted Incorporated, 85 East Seventh
<br />Place, Suite 100, Saint Paul, Minnesota 55101-2143, on Monday, January 11, 1988,
<br />until 11:00 a.m., Central Time, for the purchase of its $6,000,000 Taxable General
<br />Obligation Tax Increment Bonds, Series 1988A (the "Bonds'). The bids will then be
<br />opaned and recorded. The City Council will consider the award of the Bonds at
<br />7:00 p.m., Central Time, of the same day.
<br />The Bonds will be dated February 1, 1988, will bear interest payable on
<br />February 1 and August 1 of each year, commencing August 1, 1988. The Bonds will
<br />be Issued in Integral multiples of $5,000 as requested by the Purchaser, and will be
<br />fully registered as to principal and Interest.
<br />The Bonds will mature February 1 in the amounts and years as follows:
<br />Year Amount Year Amount
<br />1992 $ 25,000 1998 $500,000
<br />1993 250,000 1999 575,000
<br />1994 300,000 2000 650,000
<br />1995 325,000 2001 750,000
<br />1996 375,000 2002 850,000
<br />1997 450,000 2003 950,000
<br />Bonds dne o., or after February 1, 1°p7 will be subject to redemption, in
<br />whole — in par! at nar plus acc.ued interes,, a! the city s option on February 1,
<br />195;, and on any interest payment date thereafter. If less than all cf tl•4 Bonds are
<br />redeemed, Bonds will be redeemed in inverse order of maturity and by lot within a
<br />single maturity.
<br />The City will furnish the approving legal opinion of Holmes h Graven,
<br />Chartered, of Minneapolis, Minnesota. A copy of the legal opinion will be
<br />reproduced on the printed Bonds. Copies of the detailed Official Terms of Offering
<br />and adcitional information may be obtained from the City Clerk -Administrator or
<br />from SPRINGS:ED, lncorporat;'; 85 East Seventh Place, Suite 100, St. Pau:,
<br />Minnesota 55101-2143.
<br />Dated: December 14, 1987
<br />BY ORDER OF THE CITY COUNCIL
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