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OFFICIAL STATEMENT DATED FEBRUARY 26, 2002
<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 ,500,000
<br /> City of St. Anthony, Minnesota
<br /> General Obligation Improvement Bonds, Series 2002A
<br /> (Book Entry Only)
<br /> Dated Date: March 1,2002 Interest Due: Each February 1 and August 1,
<br /> commencing February 1,2003
<br /> The Bonds will mature each February 1 as follows:
<br /> 2004 $95,000 2007 $90,000 2010 $ 95,000 2013 $105,000 2016 $115,000
<br /> 2005 $85,000 2008 $90,000 2011 $ 95,000 2014 $105,000 2017 $120,000
<br /> 2006 $85,000 2009 $90,000 2012 $100,000 2015 $110,000 2018 $120,000
<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 street improvements within the City.
<br /> Proposals for not less than $1,483,500 must be submitted along with a good faith deposit of $15,000 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.) U.S. Bank, N.A.,
<br /> St. Paul, Minnesota will serve as the Registrar for the Bonds. Bonds will be available for delivery at DTC
<br /> on or about March 28, 2002.
<br /> PROPOSALS RECEIVED: March 12, 2002 (Tuesday) until 10:00 A.M., Central Time
<br /> AWARD: March 12, 2002 (Tuesday) at 7:00 P.M., Central Time
<br /> Further information may be obtained from SPRINGSTED
<br /> S PR I N G S T E D
<br /> Incorporated,Financial Advisor to the Issuer,85 East Seventh Place,
<br /> Advisors to the Public Sector Suite 100,Saint Paul,Minnesota 55101-2887(651)223-3000
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