5.2a ERMUSR 04-13-2021 - Laserfiche WebLink

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not constitute cause for failure or refusal by the successful bidder to accept delivery of the Series 2021B Bonds. CUSIP NUMBERS If the Series 2021B Bondsqualify for the assignment of CUSIP numbers such numbers will be printed on the Series 2021B Bonds; however, neither the failure to print such numbers on any Bond nor any error with respect thereto will constitute cause for failure or refusal by the Purchaser to accept delivery of the Series 2021B Bonds. Baker Tilly MA will apply for CUSIP numbers pursuant to Rule G-34 implemented by the Municipal Securities Rulemaking Board. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers shall be paid by the Purchaser. SETTLEMENT On or about May13, 2021,the Series 2021B Bonds will be delivered without cost to the Purchaser through DTC in New York, New York. Delivery will be subject to receipt by the Purchaser of an approving legal opinion of Kennedy & Graven, Chartered of Minneapolis, Minnesota, and of customary closing papers, including a no-litigation certificate. On the date of settlement, payment for the Series 2021B Bondsshall be made in federal, or equivalent, funds that shall be received at the offices of the Cityor its designee not later than 12:00Noon, CentralTime. Unless compliance with the terms of payment for the Series 2021B Bonds has been made impossible by action of the City, or its agents, the Purchaser shall be liable to the Cityfor any loss suffered by the Cityby reason of the Purchaser's non-compliance with said terms for payment. CONTINUING DISCLOSURE In accordance with SEC Rule15c2-12(b)(5), the Citywill undertake, pursuant to the resolution awarding sale of the Series 2021B Bonds, to provide annual reports and notices of certain events. A description of this undertaking is set forth in the Official Statement. The Purchaser's obligation to purchase the Series 2021B Bonds will be conditioned upon receiving evidence of this undertaking at or prior to delivery of the Series 2021B Bonds. OFFICIAL STATEMENT The Cityhas authorized the preparation of a Preliminary Official Statement containing pertinent information relative to the Series 2021B Bonds, and said Preliminary Official Statement has been deemed final by the Cityas of the date thereof within the meaning of Rule15c2-12 of the Securities and Exchange Commission. For an electronic copy of the Preliminary Official Statement or for any additional information prior to sale, any prospective purchaser is referred to the Municipal Advisor to the City, Baker Tilly Municipal Advisors, LLC, by telephone (651) 223-3000, or by email bondservice@bakertilly.com.The Preliminary Official Statement will also be made available at https://connect.bakertilly.com/bond-sales- calendar. A Final Official Statement (as that term is defined in Rule 15c2-12) will be prepared, specifying the maturity dates, principal amounts, and interest rates of the Series 2021B Bonds, together with any other information required by law. By awarding the Series 2021B Bondsto the Purchaser, the Cityagrees that, no more than seven business days after the date of such award, it shall provide to the Purchaser an electronic copyof the Final Official Statement. The Citydesignates the Purchaser as its agent for purposes of distributing the Final Official Statement to each syndicate member, if applicable. The Purchaser agrees that if its proposal is accepted bythe City, (i)it shall accept designation and (ii) it shall enter into a contractual relationship with its syndicate members for purposes of assuring the receipt of the Final Official Statement by each such syndicate member. Dated March 9, 2021BY ORDEROF THEELK RIVER MUNICIPAL UTILITIES COMMISSION /s/ Melissa Karpinski Finance Manager - v - 265