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AWARD <br /> Award will be made on the basis of the lowest dollar interest cost determined by <br /> the deduction of any premium from the total interest on all Obligations from their <br /> date to their stated maturity, as computed on the basis of the schedule of bond <br /> years in the Official Statement published for the Obligations. The Issuer reserves <br /> the right to reject any and all bids, to waive informalities and to adjourn the sale. <br /> PAYING AGENT <br /> Within 48 hours after the sale the Purchaser may name the Paying Agent for whose <br /> services the Issuer will pay customary and'reasonable fees. An alternate Paying <br /> Agent may also be named by the Purchaser provided that there is no additional cost <br /> to the Issuer by reason thereof. <br /> CUSIP NUMBERS <br /> It is anticipated that if the Obligations qualify for assignment of CUSIP numbers <br /> such CUSIP numbers will be printed on the Obligations, but neither the failure to <br /> print such numbers on any Obligation nor any error with respect thereto shall <br /> constitute cause for failure or refusal by the Purchaser to accept delivery of the <br /> Obligations. The CUSIP Service Bureau charge for the assignment of CUSIP <br /> identification numbers shall be paid for by the Purchaser. <br /> SETTLEMENT <br /> The Obligations will be delivered without cost to the Purchaser at a place mutually <br /> Q satisfactory to the Issuer and the Purchaser within 40 days following the date of <br /> their award. Delivery will be subject to receipt by the Purchaser of an approving <br /> legal opinion of Briggs and Morgan, Professional Association of Saint Paul and <br /> Minneapolis, Minnesota, which opinion will be printed upon the Obligations, and of <br /> customary closing papers, including a no-litigation certificate. On the date of <br /> settlement payment for the Obligations by the Purchaser must be made in a manner <br /> and in such funds as will reasonably enable the Issuer to invest the proceeds as of <br /> the same day. <br /> At settlement the Purchaser will be furnished with a certificate signed by <br /> appropriate officers of the Issuer on behalf of the Issuer to the effect that the <br /> Official Statement prepared for the Issuer did not and does not contain any untrue <br /> statement of a material fact or omit to state a material fact necessary in order to <br /> make the statements therein, in light of the circumstances under which they were <br /> made, not misleading. <br /> One copy of the Official Statement will be furnished without cost to any interested <br /> party upon request. Additional copies of the Official Statement will be furnished <br /> without cost to the Purchaser upon request in reasonable quantity within a <br /> reasonable time of such request. <br /> Dated August 22, 1979. <br /> BY ORDER OF THE CITY COUNCIL <br /> /s/ Robert Middaugh <br /> City Administrator <br />