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right to reject any bid specifying municipal bond insurance, even though such bid may result in <br />the lowest TIC to the City. All costs associated with the issuance and administration of such policy <br />and associated ratings and expenses (other than any independent rating requested by the City) shall <br />be paid by the successful bidder. Failure of the municipal bond insurer to issue the policy after <br />the award of the Bonds shall not constitute cause for failure or refusal by the successful bidder to <br />accept delivery of the Bonds. <br />CUSIP NUMBERS <br />If the Bonds qualify for the assignment of CUSIP numbers such numbers will be printed on the <br />Bonds; however, neither the failure to print such numbers on any Bond nor any error with respect <br />thereto will constitute cause for failure or refusal by the Purchaser to accept delivery of the Bonds. <br />Baker Tilly MA will apply for CUSIP numbers pursuant to Rule G-34 implemented by the <br />Municipal Securities Rulemaking Board. The CUSIP Service Bureau charge for the assignment <br />of CUSIP identification numbers shall be paid by the Purchaser. <br />SETTLEMENT <br />On or about November 5, 2020, the Bonds will be delivered without cost to the Purchaser through <br />DTC in New York, New York. Delivery will be subject to receipt by the Purchaser of an approving <br />legal opinion of Taft Stettinius & Hollister LLP, Minneapolis, Minnesota and of customary closing <br />papers, including a no -litigation certificate. On the date of settlement, payment for the Bonds shall <br />be made in federal, or equivalent, funds that shall be received at the offices of the City or its <br />designee not later than 12:00 Noon, Central Time. Unless compliance with the terms of payment <br />for the Bonds has been made impossible by action of the City, or its agents, the Purchaser shall be <br />liable to the City for any loss suffered by the City by reason of the Purchaser's non-compliance <br />with said terms for payment. <br />CONTINUING DISCLOSURE <br />On the date of actual issuance and delivery of the Bonds, the City will execute and deliver a <br />Continuing Disclosure Undertaking (the "Undertaking") whereunder the City will covenant for the <br />benefit of the owners of the Bonds to provide certain financial and other information about the <br />City and notices of certain occurrences to information repositories as specified in and required by <br />SEC Rule 15c2-12(b)(5). <br />OFFICIAL STATEMENT <br />The City has authorized the preparation of a Preliminary Official Statement containing pertinent <br />information relative to the Bonds, and said Preliminary Official Statement has been deemed final <br />by the City as of the date thereof within the meaning of Rule 15c2-12 of the Securities and <br />Exchange Commission. For an electronic copy of the Preliminary Official Statement or for any <br />additional information prior to sale, any prospective purchaser is referred to the Municipal Advisor <br />to the City, Baker Tilly Municipal Advisors, LLC, by telephone (651) 223 3000, or by email <br />bondservice@bakertilly.com. The Preliminary Official Statement will also be made available at <br />https:Hgo.bakertilly.com/bond-sales-calendar. <br />Mrs <br />12807833v1 <br />