Laserfiche WebLink
z <br />EXHIBIT A <br />TERMS OF PROPOSAL <br />$440,000 <br />CITY OF HUGO, MINNESOTA <br />GENERAL OBLIGATION EQUIPMENT CERTIFICATES, SERIES 2002A <br />(BOOK EN'T'RY ONLY) <br />Proposals for the Bonds will be received on Monday, August 5, 2002, until 11:00 A.M., Central <br />Time, at the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul, <br />Minnesota, after which time they will be opened and tabulated. Consideration for award of the <br />Certificates will be by the City Council at 7:00 P.M., Central Time, of the same day. <br />SUBMISSION OF PROPOSALS <br />Proposals may be submitted in a sealed envelope or by fax (651) 223-3046 to Springsted. Signed <br />Proposals, without final price or coupons, may be submitted to Springsted prior to the time of sale. <br />The bidder shall be responsible for submitting to Springsted the final Proposal price and coupons, <br />by telephone (651) 223-3000 or fax (651) 223-3046 for inclusion in the submitted Proposal. <br />Springsted will assume no liability. for the inability of the bidder to reach Springsted prior to the <br />time of sale specified above. All bidders are advised that each Proposal shall be deemed to <br />constitute a contract between the bidder and the City to purchase the Certificates regardless of the <br />manner of the Proposal submitted. <br />DETAILS OF THE CERTIFICATES <br />The Certificates will be dated August 1, 2002, as the date of original issue, and will bear interest <br />payable February 1 and August 1 of each year, commencing August 1, 2003. Interest will be <br />computed on the basis of a 360 -day year of twelve 30 -day months. <br />The Bonds will mature annually on August 1 in the years and amounts as follows: <br />2003 <br />$ 40,000 <br />2004 <br />95,000 <br />2005 <br />100,000 <br />2006 <br />100,000 <br />2007 <br />105,000 <br />Proposals for the Certificates may contain a maturity schedule providing for a combination of serial <br />bonds and term bonds, provided that no serial bond may mature on or after the first mandatory <br />sinking fund redemption date of any term bond. All term bonds shall be subject to mandatory <br />sinking fund redemption and must conform to the maturity schedule set forth above at a price of par <br />plus accrued interest to the date of redemption. In order to designate term bonds, the proposal must <br />specify "Last Year of Serial Maturities" and "Years of Term Maturities" in the spaces provided on <br />the Proposal Form. <br />1420924v1 A-1 <br />