4.1. SR 08-16-1993 - Laserfiche WebLink

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Exhibit B e THE CITY HAS AUTHORIZED SPRfNGSTED fNCORPOAATED TO NEGOTlATf THIS JSSUE ON ITS BEHAJ..F. PROPOSALS WILL BE RECElVEO ON THE FOLLOWING BASIS: TERMS OF PROPOSAL $3.525,000 CITY OF ELK RIVER, MINNESOTA GENERAL OBUGAnON PERMANENT IMPROVEMENT REVOLVING FUND BONDS, SERIES 19938 Proposals for the Bonds. wllJ be received on Tuesday, September 7, 1993. until 12:00 Noon, Central Time, at the offlces of Sprlngsted Inoorparated, a5 East Seventh Place. Suite 100, Saint Paul. Minnesota, atter whIch time they will be opened and tabulated. Consideration for award of the Bonds wilf be by the City Council at 7;00 P.M., Central Time. of the same day. DETAILS OF THE BONDS e The Bonds will be dated October 1, 1993, as the date of original Jssue, and wjjJ bear interest payable on February 1 and August 1 of eaoh year, commencing August 1, 1994. Interest will be computed on the basis of a 36o-day year of twelve 3o-day months. The Bonds will be Issued In the denomInation of $5,000 each, or In integral multiples thereof, as requested by the purchaser, and fUlly regisfBred as to principal and interest. Prinoipal wlU be payable at 1he main corporate office of the registrar and Interest on each Bond will be payable by check or draft of the registrar maIled to the registered holder 1hereof at the holder's address as it appears on the books of the registrar as of the close of business on the 15th day of the immedJately preceding month. The Bonds wJrl mature February 1 In the years and amounts as follows: 1995 $515,000 1996 $535,000 1997 $535,000 1998 $105,000 1999 $110,000 2000 $230,000 2001 $240,000 2002 S250,ooO 2003 $255,000 2004 $275,000 2005 S 85,000 2006 $ 90,000 2007 $ 95,000 2008 $100,000 2009$105,000 OPTIONAL REDEMPTION The City may elect on Febru21lj' " 2003. and on any day thereafter, 10 prepay Bond's due on or after February 1, 2004. Redemption may be In whole or in part and if in part, at the oplionof the City and in such order as the City shall determine and within a maturity by Jot as selected by the tegisfrar. All prepayments sha(l be at a pr1ce of par plus accrued interest SECURITY AND PURPOSE 'The Bonds win be general obligations of the City for which the City will pledge It<; full faith and credit and power to levy direct general ad valorem taxes. In addition the City will pledge special assessments against beneflted property and net re....enues of the City Water Utility. The proceeds will be used to finance various public improvements in 1he City. e lYPE OF PROPOSALS Proposals shall be for not Jess than $3,479,045 and accrued interest on the total principal amount of the Bonds. Proposals shaff be accompanied by a Good Faith Deposit (~Oeposit") in S d O~ 198809S8 'ON/51: S I 'lS/O~: S I 85 i~ I '80 (nH1l Sv99-8~~-~19 1nVd'lS NVDHOW ~ SDDIH8 WOH~