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OFFICIAL TERMS OF OFFERING
<br /> • $1,210,000
<br /> CITY OF ST. ANTHONY, MINNESOTA
<br /> LIQUOR STORE REVENUE BONDS, SERIES 1986
<br /> Sealed bids for the Bonds will be opened by the City Manager or his designee on Monday,
<br /> November 10, 1986, at 12:00 Noon, Central Time, at the office of SPRINGSTED Incorporated, 85 East
<br /> Seventh Place, Saint Paul, Minnesota. Consideration for award of the Bonds will be by the City
<br /> Council at 7:00 P.M., Central Time, of the some day. -
<br /> DETAILS OF THE BONDS
<br /> The Bonds will be dated December I, 1986, as the date of original issue, and will bear interest
<br /> payable on January I and July I of each year, commencing July I, 1987. Interest will be computed
<br /> upon the basis of a 360-day year of twelve 30-day months and will be rounded pursuant to rules of the
<br /> MSRB. The Bonds will be issued in the denomination of $5,000 each, or in integral multiples thereof
<br /> as requested by the Purchaser, and fully registered as to principal and interest. Principal will be
<br /> payable at the main corporate office of the Registrar and interest on each Bond will be payable by
<br /> check or draft of the Registrar mailed to the registered holder thereof at his address as it appears on
<br /> the books of the Registrar as of the 15th day of the calendar month next preceding the interest
<br /> payment.
<br /> The Bonds will mature January I in the amounts and years as follows:
<br /> •
<br /> 45,000 1989-1990 $65,000 1994 $ 90,000 1998 $115,000 2001
<br /> $50,000 1991 $70,000 1995 $ 95,000 1999 $125,000 2002`
<br /> $55,000 1992 $75,000 1996 $105,000 2000 $135,000 2003
<br /> $60,000 1993 $80,000 1997
<br /> The City may elect on January I, 1997, and on any interest payment date thereafter, to prepay Bonds
<br /> due on or after January I, 1998. Redemption may be in whole or in part of the Bonds subject to
<br /> prepayment. If redemption is in part, those Bonds remaining unpaid which have the latest maturity
<br /> date will be prepaid first. If only part of the Bonds having a common maturity date are called for
<br /> prepayment the specific Bonds to be prepaid will be chosen by lot by the Registrar. All prepayments
<br /> shall be at a price of par and accrued interest.
<br /> SECURITY AND PURPOSE
<br /> The Bonds will be special Bonds of the City payable solely from net operating profits of the City
<br /> municipal liquor stores. The proceeds will be used to finance construction, remodeling and equipping
<br /> of liquor store facilities.
<br /> TYPE OF BID
<br /> A sealed bid for not less than $1,187,010 and accrued interest on the total principal amount of the
<br /> Bonds shall be filed with the undersigned prior to the time set for the openingof bids. Also prior to
<br /> the time set for bid opening, a certified or'cashier's check in the amount of 12, 100, payable to the
<br /> order of the City, shall have been filed with the undersigned or SPRINGSTED Incorporated, the City's
<br /> Financial Advisor. No bid will be considered for which said check has not been filed. The check of
<br /> •the Purchaser will be retained by the City as liquidated damages in the event the Purchaser fails to
<br /> comply with the accepted bid. The City will deposit the check of the Purchaser, the amount of which
<br /> will be deducted at settlement. No bid shall be withdrawn after the time set for opening bids unless
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