|
THE AUTHORITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE
<br />THIS ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED O1~i THE FOLLOWING
<br />BASIS:
<br />
<br />TERMS OF PROPOSAL
<br />
<br /> $1,665,000
<br /> ECONOMIC DEVELOPMENT AUTHORITY
<br /> OF RAMSEY, MINNESOTA
<br />PUBLIC FACILITY LEASE REVENUE BONDS, SERIES 1999A
<br />(CITY OF RAMSEY, MINNESOTA LEASE OBLIGATION)
<br />
<br />(BOOK ENTRY ONLY)
<br />
<br />Proposals for the Bonds will be received on Tuesday, November 23, 1999, until 11:00 A.M.,
<br />Central Time, at the offices of Springsted Incorporated, 85 East Seventh Place, Suite 100, Saint
<br />Paul, Minnesota, after which time they will be opened and tabulated. Consideration for award
<br />of the Bonds will be by the Board of Commissioners at 6:30 P.M., Central Time, of the same
<br />day.
<br />
<br /> " SUBMISSION OF PROPOSALS '
<br />
<br />Proposals may be submitted in a sealed envelope:' or by fax, (651.)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. Springsted the final Proposal ....
<br />price and Coupons, by.telephone (651)223-3000 or fax:(651)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. All bidders are advised that:each Proposal
<br />shall be deemed to constitute a contract between the bidder and the Authority to purchase the
<br />Bonds regardless of the manner of the Proposal submitted.
<br />
<br />DETAILS OF THE BONDS
<br />
<br />The Bonds will be dated December 1, 1999, as the date of original issue, and will bear interest
<br />payable on February 1 and August 1 of each year, commencing August 1, 2000. Interest will
<br />be computed on the basis of a 360-day year of twelve 30-day months.
<br />
<br />The Bonds will mature February I in the years and amounts as follows:
<br />
<br />2001 $40,000 2006 $70,000 2011 $ 90,000 2016 $115,000
<br />2002 $55,000 2007 $70,000 2012 $ 95,000 2017 $125,000
<br />2003 $60,000 2008 $75,000 2013 $100,000 2018 $130,000
<br />2004 $60,000 2009 $80,000 2014 $105,000 " 2019 $135,000
<br />2005 $65,000 2010 $85,000 2015 $110,000
<br />
<br />Proposals for the Bonds may contain a maturity schedule providing for a combination of serial
<br />bonds and term bonds, provided that no serial bond may mature on or after the first mandatory
<br />sinking fund redemption date of any term bond. All term bonds shall be subject to mandatory
<br />sinking fund redemption and must conform to the maturity schedule set forth above at a price of
<br />par plus accrued interest to the date of redemption. In order [o designate term bonds, the
<br />proposal must specify "Last Year of Serial Maturities" and "Years of Term Maturities" in the
<br />spaces provided on the Proposal Form.
<br />
<br />Page 7
<br />
<br />
<br />
|