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THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS
<br /> ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS:
<br /> • TERMS OF PROPOSAL
<br /> $525,000
<br /> CITY OF ST. ANTHONY, MINNESOTA
<br /> GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1994A
<br /> Proposals for the Bonds will be received on Tuesday, May 24, 1994, until 11:00 A.M., Central
<br /> Time, at the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul,
<br /> Minnesota, after which time they will be opened and tabulated. Consideration for award of the
<br /> Bonds will be by the City Council at 7:00 P.M., Cer.ral Time, of the same day.
<br /> DETAILS OF THE BONDS
<br /> The Bonds will be dated June 1, 1994, as the date of original issue, and will bear interest
<br /> payable on February 1 and August 1 of each year, commencing February 1, 1995. Interest will
<br /> be computed on the basis of a 360-day year of twelve 30-day months. The Bonds will be
<br /> issued in the denomination of $5,000 each, or in integral multiples thereof, as requested by the
<br /> purchaser, and fully registered as to principal and interest. Principal will be payable at the main
<br /> corporate office of the registrar and interest on each Bond will be payable by check or draft of
<br /> the registrar mailed to the registered holder thereof at the holder's address as it appears on the
<br /> books of the registrar as of the close of business on the 15th day of the immediately preceding
<br /> • month.
<br /> The Bonds will mature February 1 in the years and amounts as follows:
<br /> 1996 $10,000 2000 $30,000 2004 $35,000 2008 $45,000
<br /> 1997 $25,000 2001 $30,000 2005 $40,000 2009 $45,000
<br /> 1998 $30,000 2002 $35,000 2006 $40,000 2010 $50,000
<br /> 1999 $30,000 2003 $35,000 2007 $45,000
<br /> OPTIONAL REDEMPTION
<br /> The City may elect on February 1, 2003, and on any day thereafter, to prepay Bonds due on or
<br /> after February 1, 2004. 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 by
<br /> the registrar. All prepayments shall be at a price of par plus accrued interest.
<br /> SECURITY AND PURPOSE
<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 special
<br /> assessments against benefited property. The proceeds will be used for street and utility
<br /> improvements in the City.
<br /> TYPE OF PROPOSALS
<br /> • Proposals shall be for not less than $517,650 and accrued interest on the total principal amount
<br /> of the Bonds. Proposals shall be accompanied by a Good Faith Deposit ("Deposit") in the form
<br /> of a certified or cashier's check or a Financial Surety Bond in the amount of $5,250, payable to
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