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VILLAGE OF ELK RIVER, MIN NESOTA <br />RECOMMENDATIONS <br />1. AMOUNT OF ISSUE: $799000 - Based upon the following actual cost <br />acquired from Bill Konop: <br />Street Improvements $322415.90 <br />Sewer & Water Improvements 439026.84 <br />Financing Legal, Advertise & <br />Other contingencies (est.) 29312.26 <br />$772815.00 <br />Note: If $79,000 sold at Discount of <br />1119; Yield from sale would be <br />$77981.5 so we have cushion if <br />we work on $79,00. <br />2. DATE BONDS: December 1, 1971, and sell bonds as soon as it is <br />possible to prepare for the sale. The bonds must <br />be advertised for sale at least ten days prior to <br />sale date. Funds would be available within 40 <br />days after sale. <br />3. PRINCIPAL PAYMENTS: <br />4. INTEREST PAYMENTS: <br />Make first principal payment due December 1, 1973 <br />and thereafter on December lst of each year. $10,000 <br />12/1/73 thru 12/1/79 - $91,000 12/1/80. <br />Make first interest payment due December 1, 1972, and <br />semi-annually thereafter on June 1st and December 1st <br />of each year. <br />5. REDEMPTION: Recommend bonds be non -callable. <br />6. TYPE OF BID: Sealed bids only of not less than $77,815 and <br />accrued interest on the principal sum of $795,000 <br />from date of bonds to date of delivery and must be <br />filed with C1erk�Treasurer prior to time of sale. <br />7. GOOD FAITH DEPOSIT: Certified or cashier's check in the amount of $13,5809 <br />payable to the Village Clerk -Treasurer, Village of <br />Elk River, must accompany bid and be forfeited as <br />liquidated damages if bidder fails to comply with <br />accepted bid terms <br />0 <br />