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OFFICIAL STATEMENT DATED FEBRUARY 24, 1998
<br /> Rating: Requested from Moody's
<br /> NEW ISSUE Investors Service
<br /> In the opinion of Dorsey& Whitney LLP, Bond Counsel, on the basis of laws in effect on the date of issuance of the Bonds, interest on
<br /> the Bonds is not includable in the gross income of the recipient for federal income tax purposes and in taxable net income of
<br /> individuals, estates and trusts for Minnesota income tax purposes, but is includable in taxable income of corporations and financial
<br /> institutions for purposes of the Minnesota franchise tax. (See "Tax Exemption"herein.)
<br /> $725,000
<br /> City of St. Anthony, Minnesota
<br /> General Obligation Improvement Bonds, Series 1998A
<br /> (Book Entry Only)
<br /> Dated Date: April 1, 1998 Interest Due: Each February 1 and August 1,
<br /> commencing February 1, 1999
<br /> The Bonds will mature February 1 as follows:
<br /> 2000 $10,000 2003 $40,000 2006 $45,000 2009 $55,000 2012 $60,000
<br /> 2001 $40,000 2004 $45,000 2007 $50,000 2010 $55,000 2013 $65,000
<br /> 2002 $40,000 2005 $45,000 2008 $50,000 2011 $60,000 2014 $65,000
<br /> Proposals for the Bonds may contain a maturity schedule providing for any combination of serial bonds and
<br /> term bonds, subject to mandatory redemption, provided that no serial bond may mature on or after the first
<br /> mandatory sinking fund redemption date of any term bond. All term bonds shall be subject to mandatory
<br /> redemption and must conform to the maturity schedule set forth above.
<br /> The City may elect on February 1, 2006, and on any day thereafter, to prepay Bonds due on or after
<br /> February 1, 2007 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 credit and power
<br /> to levy direct general ad valorem taxes. In addition, the City will pledge special assessments levied against
<br /> benefited property. The proceeds will be used for various improvement projects within the City.
<br /> Proposals shall be for not less than $715,575 and must be accompanied by a good faith deposit in the form of
<br /> a certified or cashier's check or a Financial Surety Bond in the amount of $7,250, payable to the order of the
<br /> City. Rates shall be specified in integral multiples of 5/100 or 1/8 of 1% and must be in ascending order. The
<br /> 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 Internal Revenue
<br /> Code of 1986, as amended, and will not be subject to the alternative minimum tax for individuals.
<br /> The Bonds will be issued as fully registered bonds without coupons and, when issued, will be registered in the
<br /> name of Cede & Co., as nominee of The Depository Trust Company ("DTC"). DTC will act as securities
<br /> depository of the Bonds. Individual purchases may be made in book entry form only, in the principal amount
<br /> of $5,000 and integral multiples thereof. Purchasers will not receive certificates representing their interest in
<br /> the Bonds purchased. (See "Book Entry System" herein.) Firstar Bank of Minnesota, N.A. will serve as the
<br /> Registrar. Bonds will be available for delivery at DTC within 40 days after award.
<br /> PROPOSALS RECEIVED: March 10, 1998 (Tuesday) until 12:00 Noon, Central Time
<br /> AWARD: March 10, 1998 (Tuesday) at 7:00 P.M., Central Time
<br /> Further information may be obtained from SPRINGSTED
<br /> S PR I N G ST ED Incorporated, Financial Advisor to the Issuer, 85 East
<br /> Public Finance Advisors Seventh Place, Suite 100, Saint Paul, Minnesota
<br /> 55101-2887(612)223-3000
<br />
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