Laserfiche WebLink
<br />OFFICIAL STATEMENT <br /> <br />$575,000' <br />CITY OF ELK RIVER, MINNESOTA <br />GENERAL OBLIGATION IMPROVEMENT REFUNDING BONDS, SERIES 1999B <br /> <br />(BOOK ENTRY ONLY) <br /> <br /> <br />INTRODUCTORY STATEMENT <br /> <br />This Official Statement contains certain information relating to the City of Elk River, Minnesota (the <br />"City") and its issuance of $575,000* General Obligation Improvement Refunding Bonds, <br />Series 1999B (the "Bonds"). The Bonds are general obligations of the City for which the City <br />pledges its full faith and credit and power to levy direct general ad valorem taxes without limit as to <br />rate or amount. The purpose and additional source of pledged security for the Bonds are <br />discussed further herein. <br /> <br />Inquiries may be directed to Mr. Patrick D. Klaers, Administrator, City of Elk River, PO Box 490, <br />13065 Orono Parkway, Elk River, Minnesota 55330-0490, or by telephoning (612) 441-7420. <br />Inquiries may also be made to Springsted Incorporated, 85 East Seventh Place, Suite 100, St. <br />Paul, Minnesota 55101-2887, or by telephoning (651) 223-3000. If information of a specific <br />legal. nature is desired, requests may be directed to Mr. James O'Meara, Briggs and Morgan, <br />Professional Association, of St. Paul, Minnesota, Bond Counsel, 2200 First National Bank <br />Building, St. Paul, Minnesota 55101, or by telephoning (651) 223-6600. <br /> <br />CONTINUING DISCLOSURE <br /> <br />Participating underwriters need not comply with the continuing disclosure requirements of <br />Rule 15c2-12 promulgated by the Securities and Exchange Commission under the Securities <br />Exchange Act of 1934 (the "Rule"), because the offering is in a principal amount less than <br />$1,000,000. Consequently, the City will not enter into any undertaking to provide continuing <br />disclosure of any kind with respect to the Bonds. <br /> <br />The City reserves the right, after proposals are opened and prior to award, to increase or reduce the <br />principal amount of the Bonds offered for sale. Any such increase or reduction will be in a total <br />amount not to ~xceed $15,000 and will be made in multiples of $5,000 in any of the maturities. In the <br />event the principal amount of the Bonds is increased or reduced, any premium offered or any discount <br />taken by the successful bidder will be increased or reduced by a percentage equal to the percentage <br />by which the principal amount of the Bonds is increased or reduced. <br /> <br />-1- <br />