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SETTLEMENT <br />On or about October 7, 2 02 1, 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 <br />approving legal opinion of Taft, Stettinius & Hollister LLP, of Minneapolis, Minnesota, and of <br />customary closing papers, including a no -litigation certificate. On the date of settlement, <br />payment for the Bonds shall be made in federal, or equivalent, funds that shall be received at the <br />offices of the City or its designee not later than 12:00 Noon, Central Time. Unless compliance <br />with the terms of payment for the Bonds has been made impossible by action of the City, or its <br />agents, the Purchaser shall be liable to the City for any loss suffered by the City by reason of the <br />Purchaser's non-compliance 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 <br />the benefit of the owners of the Bonds to provide certain financial and other information about <br />the City and notices of certain occurrences to information repositories as specified in and <br />required by 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 <br />Advisor to the City, Baker Tilly Municipal Advisors, LLC, by telephone (651) 223-3000, or by <br />email bondserviceCbakertilly com. The Preliminary Official Statement will also be made <br />available at https://connect.bakertilly.com/bond-sales-calendar. <br />A Final Official Statement (as that term is defined in Rule 15c2-12) will be prepared, specifying <br />the maturity dates, principal amounts, and interest rates of the Bonds, together with any other <br />information required by law. By awarding the Bonds to the Purchaser, the City agrees that, no <br />more than seven business days after the date of such award, it shall provide to the Purchaser an <br />electronic copy of the Final Official Statement. The City designates the Purchaser as its agent <br />for purposes of distributing the Final Official Statement to each syndicate member, if applicable. <br />The Purchaser agrees that if its proposal is accepted by the City, (i) it shall accept designation <br />and (ii) it shall enter into a contractual relationship with its syndicate members for purposes of <br />assuring the receipt of the Final Official Statement by each such syndicate member. <br />Dated August 2, 2021 <br />BY ORDER OF THE CITY COUNCIL <br />/s/ Michele Lindau <br />City Clerk <br />6 <br />13569209v1 <br />