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OFFICIAL STATEMENT DATED JUNE 29, 1993
<br /> Rating: Requested from Moody's
<br /> NEW ISSUE Investors Service
<br /> In the opinion of Dorsey & Whitney, Bond Counsel, on the basis of laws in effect on the date of issuance of the
<br /> Bonds, interest on the-Bonds is not includable in gross income of the recipient for federal income tax purposes or in
<br /> taxable net income of individuals, estates and trusts for Minnesota income tax purposes, but is includable in taxable
<br /> income of corporations and financial institutions for purposes of the Minnesota franchise tax. (For a discussion of
<br /> related issues see"Tax Exemption"herein)
<br /> $470,000
<br /> City of St. Anthony, Minnesota
<br /> General Obligation Improvement Bonds, Series 1993A
<br /> Dated Date: August 1, 1993 Interest Due: Each February 1 and August 1,
<br /> commencing August 1, 1994
<br /> The Bonds will mature February 1 as follows:
<br /> 1995 $20,000 1999 $30,000 2003 $30,000 2007 $35,000
<br /> 1996 $30,000 2000 $30,000 2004 $30,000 2008 $35,000
<br /> 1997 $30,000 2001 $30,000 2005 $35,000 2009 $40,000
<br /> 1998 $30,000 2002 $30,000 2006 $35,000
<br /> The City may elect on February 1, 2002, and on any day thereafter, to prepay Bonds due on or
<br /> after February 1, 2003. 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 /> 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
<br /> special assessments against benefited property. The proceeds will be used for various street
<br /> and utility improvements in the City.
<br /> Proposals shall be for not less than $462,950 and accrued interest on the total principal
<br /> amount of the Bonds and must be accompanied by a good faith deposit in the form of a
<br /> certified or cashier's check or a Financial Surety Bond in the amount of $4,700, payable to the
<br /> order of the City. Rates shall be specified in integral multiples of 5/100 or 1/8 of 1% and must
<br /> be in ascending order. The Bonds will be awarded on the basis of True Interest Cost (TIC).
<br /> The Bonds will be bank-qualified tax-exempt obligations pursuant to Section 265(b)(3) of the
<br /> Internal Revenue Code of 1986, as amended, and will not be subject to the alternative minimum
<br /> tax for individuals.
<br /> The Bonds will be issued in integral multiples of $5,000, as requested by the Purchaser, and
<br /> will be fully registered as to principal and interest. The Bonds will be delivered without cost to
<br /> the Purchaser within 40 days following the date of their award. The City will name the Registrar
<br /> and pay for registration services.
<br /> PROPOSALS RECEIVED: July 13, 1993 (Tuesday) at 1:00 P.M., Central Time
<br /> AWARD: July 13, 1993 (Tuesday) at 7:00 P.M., Central Time
<br /> Further information may be obtained from
<br /> SPRINGSTE® SPRINGSTED Incorporated, Financial Advisor to
<br /> the Issuer,85 East Seventh Place,Suite 100,Saint
<br /> PUBUC FINANCE ADVISORS Paul,Minnesota 55101 (612)223-3000.
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