Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />EXHIBIT B <br /> <br />NOTICE OF SALE <br /> <br />$850,000 General Obligation Tax <br />Increment Bonds, Series 1985A <br />City of Elk River <br />Sherburne County, Minnesota <br /> <br />Sealed bids for these bonds will be opened by the City <br />Administrator, or his designee, on Monday, August 12, 1985, at <br />1:00 p.m., for consideration and award by the City Council at <br />7:30 p.m. at the City Hall in Elk River, Minnesota. Dated <br />September 1, 1985, the bonds will mature on February 1 in the <br />years and amounts as follows: <br /> <br />Year Amount <br />1988 - $30,000 <br />1989 - $55,000 <br />1990 - $60,000 <br />1991 - $65,000 <br />1992 - $70,000 <br />1993 - $75,000 <br /> <br />Year Amount <br />1994 - $80,000 <br />1995 - $85,000 <br />1996 - $110,000 <br />1997 - $110,000 <br />1998 - $110,000 <br /> <br />Bonds maturing on or after February 1, 1995, are subject to <br />prior redemption on February 1, 1994, and any interest paYment <br />date thereafter at par plus accrued interest. Interest will be <br />payable on August 1, 1986, and semiannually thereafter. Each <br />rate must be in an integral multiple of 1/8 of 1% and no rate <br />may exceed the maximum rate of interest permitted by law on the <br />day of sale. Minimum price, $833,400. An unqualified legal <br />opinion will be furnished by Larkin, Hoffman, Daly & Lindgren, <br />Ltd., Minneapolis, Minnesota. The purpose of the bonds is to <br />finance public development costs in an economic tax increment <br />financing district in the City. <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br />Thomas R. Bublitz <br />City Clerk <br /> <br />Dated: July 15, 1985 <br /> <br />4 . <br />