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EXHIBIT A "
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<br />THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS
<br />ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS:
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<br />TERMS OF PROPOSAL
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<br /> $2,655,000
<br /> CITY OF ELK RIVER, MINNESOTA
<br />GENERAL OBLIGATION SEWER REVENUE BONI3~, SERIES 1998A
<br />
<br />(BOOK ENTRY ONLY)
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<br />Proposals for the Bonds will be received on Monday, June 3, 1996, until 11:30 A.M., Central
<br />Time, at the offices of Spdngsted Incorporated, 85 East Seventh Place, Suite 100, Saint Paul,
<br />Minnesota, after which time they will be opened and tabulated. Consideration for award of the
<br />Bonds will be by the City Council at 6:00 P.M., Central Time, of the same day.
<br />
<br />SUBMISSION OF PROPOSALS
<br />
<br />Proposals may be submitted in a sealed envelope or by fax (612) 223-3002 to Springsted.
<br />Signed Proposals, without final price or coupons, may be submitted to Springsted prior to the
<br />time of sale. The bidder shall be responsible for submitting to Spdngsted the final Proposal
<br />pdce and coupons, by telephone (612) 223-3000 or fax (612) 223-3002 for inclusion in the
<br />submitted Proposal. Springsted will assume no liability for the inability of the bidder to reach
<br />Springsted prior to the time of sale specified above. Proposals may also be filed electronically
<br />via PARITY, in accordance with PARITY Rules of Participation and the Terms of Proposal,
<br />within a one-hour period prior to the time of sale established above, but no Proposals will be
<br />received after that time. If provisions in the Terms of Proposal conflict with the PARITY Rules
<br />of Participation, the Terms of Proposal shall control. The normal fee for use of PARITY may be
<br />obtained from PARITY and such fee shalt be the responsibility of the bidder. For further
<br />information about PARITY, potential bidders may contact PARITY at 100 116th Avenue SE,
<br />Suite 100, Bellevue, Washington 98004, telephone (208) 635-3545. Neither the City nor
<br />Springsted Incorporated assumes any liability if there is a malfunction of PARITY. All bidders
<br />are advised that each Proposal shall be deemed to constitute a contract between the bidder
<br />and the City to purchase the Bonds regardless of the manner of the Proposal submitted.
<br />
<br /> DETAILS OF THE BONDS
<br />
<br />The Bonds will be dated July 1, 1996, as the date of odginal issue, and will bear Interest
<br />payable on February 1 and August 1 of each year, commencing February 1, 1997. Interest will
<br />
<br />be computed on the basis of a 360-day year of twelve 30-day months.
<br />
<br />The Bonds will mature February 1 in the years and amounts as follows:
<br />
<br />1997 $135,000 2002 $ 95,000 2007 $125,000 2012 $165,000
<br />1998 $ 80,000 2003 $100,000 2008 $130,000 2013 $175,000
<br />1999 $ 85,000 2004 $110,000 2009 $140,000 2014 $185,000
<br />2000 $ 90,000 2005 $115,000 2010 $150,000 2015 $195,000
<br />2001 $ 95,000 2006 $120,000 2011 $155,000 2016 $210,000
<br />
<br /> BOOK ENTRY SYSTEM
<br />
<br />The Bonds will be issued by means of a book entry'system with no physical distribution of
<br />Bonds made to the public. The Bonds will be issued in fully registered form and one Bond,
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