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96-027 RES
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96-027 RES
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Last modified
12/3/2007 2:35:30 PM
Creation date
5/1/2002 7:07:32 PM
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City Government
type
RES
date
5/13/1996
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CUSIP NUMBERS <br /> <br />If the Bonds qualify for assignment of CUSIP numbers such numbers wi{I be pdnted on the <br />Bonds, but neither the failure to print Su~ '~u~'perS on any Bond nor any error with respect <br />thereto will constitute cause for failure or refusal by the purchaser to accept delivery of the <br />Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP Identification numbers <br />shall be paid by the purchaser. <br /> <br />SE3q'LEMENT <br /> <br />Within 40 days following the date of their award, the Bonds will be delivered without cost to the <br />purchaser at a place mutually satisfactory to the City and the purchaser. Delivery will be <br />subject to receipt by the purchaser of an approving legal opinion of Bdggs and Morgan, <br />Professional Association, of Saint Paul and Minneapolis, Minnesota, ancl of customary closing <br />papers, including a no-litigation certificate. On the date of settlement payment for the Bonds <br />shall be made in federal, or equivalent, funds which shall be received at the offices of the City <br />or its designee not later than 12:00 Noon, Central Time. Except as compliance with the terms <br />of payment for the Bonds shall have been made impossible by action of the City, or its agents, <br />the purchaser shall be liable to the City for any loss suffered by the City by reason of the <br />purchaser's non-compliance with said terms for payment. <br /> <br />CONTINUING DISCLOSURE <br /> <br />On the date of the actual issuance and delivery of the Bonds, the City will execute and deliver a <br />Continuing Disclosure Undertaking whereunder the City will covenant to provide, or cause to be <br />provided, annual financial information, including audited financial statements of the City, and <br />notices of certain material events, as specified in and required by SEC Rule 15c2-12(b)(5). <br /> <br />OFFICIAL STATEMENT <br /> <br />The City has authorized the preparation of an Official Statement containing pertinent <br />information relative to the Bonds, and said Official Statement will serve as a nearly-final Official <br />Statement within the meaning of Rule 15c2-12 of the Securities and Exchange Commission. <br />For copies of the Official Statement or for any additional information prior to sale, any <br />prospective purchaser is referred to the Financial Advisor to the City, Spdngsted incorporated, <br />85 East Seventh Place, Suite 100, Saint Paul, Minnesota 55101, telephone (612) 223-3000. <br /> <br />The Official Statement, when further supplemented by an addendum or addenda specifying the <br />maturity dates, principal amounts and interest rates of the Bonds, together with any other <br />information required by taw, shall constitute a "Final Official Statement" of the City with respect <br />to the Bonds, as that term is defined in Rule 15c2.-12. By awarding the Bonds to any <br />underwriter or underwriting syndicate submitting a proposal therefor, the City agrees that, no <br />more than seven business days after the date of such award, it shall provide without cost to the <br />senior managing underwriter of the syndicate to which the Bonds are awarded 20 copies of the <br />Official Statement and the addendum or acldenda described above. The City designates the <br />senior managing underwriter of the syndicate to which the Bonds are awarded as its agent for <br />purposes of distributing copies of the Final Official Statement to each Participating Underwriter. <br />Any underwriter delivering a proposal with respect to the Bonds agrees thereby that if its <br />proposal is accepted by the City (i) it shall accept such designation and (ii) it shall enter into a <br />contractual relationsl3ip with all Participating Underwriters of the Bonds for purposes of assudng <br />the receipt by each such Participating Underwriter of the Final Official Statement. <br /> <br />Dated May 13, 1996 <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br />Is/Patrick Klaers <br /> Administcator <br /> <br /> <br />
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