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OFFICIAL STATEMENT DATED MARCH 15, 2001
<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,
<br /> interest on the Bonds is not includable in the gross income of the recipient for federal income tax purposes and in taxable net
<br /> income of individuals, estates and trusts for Minnesota income tax purposes, but is includable in taxable income of corporations
<br /> and financial institutions for purposes of the Minnesota franchise tax. (See "Tax Exemption"herein.)
<br /> $1 ,160,000
<br /> City of St. Anthony, Minnesota
<br /> General Obligation Improvement Bonds, Series 2001 B
<br /> (Book Entry Only)
<br /> Dated Date: April 1, 2001 Interest Due: Each February 1 and August 1,
<br /> The Bonds will mature each February 1 as follows: commencing August 1, 2001
<br /> 2003 $70,000 2006 $70,000 2009 $75,000 2012 $80,000 2015 $85,000
<br /> 2004 $70,000 2007 $70,000 2010 $75,000 2013 $80,000 2016 $90,000
<br /> 2005 $70,000 2008 $75,000 2011 $75,000 2014 $85,000 2017 $90,000
<br /> Proposals for the Bonds may contain a maturity schedule providing for a combination of serial bonds
<br /> and term bonds, provided that no serial bond may mature on or after the first mandatory sinking fund
<br /> redemption date of any term bond. All term bonds shall be subject to mandatory sinking fund
<br /> redemption and must conform to the maturity schedule set forth above at a price of par plus accrued
<br /> interest.
<br /> The City may elect on February 1, 2010, and on any day thereafter, to prepay the Bonds due on or after
<br /> February 1, 2011 at a price of par plus accrued interest.
<br /> The Bonds are general obligations of the City for which the City pledges its full faith and credit and
<br /> power to levy direct general ad valorem taxes. In addition the City will pledge special assessments from
<br /> benefitted properties. The proceeds will be used to finance various street, water and sewer
<br /> improvement projects in the City.
<br /> Proposals for not less than $1,146,080 must be submitted along with a good faith deposit of $11,600 in
<br /> the form of a certified or cashier's check or a Financial Surety Bond, payable to the order of the City.
<br /> Rates shall be specified in integral multiples of 5/100 or 1/8 of 1% and must be in level or ascending
<br /> order. Award will be made 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
<br /> Revenue Code of 1986, as amended, and will not be subject to the alternative minimum tax for
<br /> individuals.
<br /> The Bonds will be issued as fully registered bonds without coupons and, when issued, will be registered
<br /> in the name of Cede & Co., as nominee of The Depository Trust Company ("DTC"). DTC will act as
<br /> securities depository of the Bonds. Individual purchases may be made in book entry form only, in the
<br /> principal amount of $5,000 and integral multiples thereof. Purchasers will not receive certificates
<br /> representing their interest in the Bonds purchased. (See "Book Entry System" herein.) Firstar Bank,
<br /> N.A., St. Paul, Minnesota will serve as the Registrar for the Bonds. Bonds will be available for delivery
<br /> at DTC within 40 days after award.
<br /> PROPOSALS RECEIVED: March 27, 2001 (Tuesday) until 10:00 A.M., Central Time
<br /> • AWARD: March 27, 2001 (Tuesday) at 7:00 P.M., Central Time
<br /> Further information may be obtained from SPRINGSTED
<br /> S P R I N G S T E D
<br /> Incorporated, Financial Advisor to the Issuer, 85 East Seventh
<br /> Advisors to the Public Sector
<br /> Place,Suite 100,Saint Paul, Minnesota 55101-2887(651)223-3000
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