Laserfiche WebLink
SUMMARY OF RECOMMENDED TERMS <br />1. Type of Bond Sale Public Issuance - Negotiated Sale with Northland <br />Securities <br />2. Proposed Pricing <br />3. Council Consideration <br />4. Repayment Term <br />Wednesday, March 20, 2012 <br />Tuesday, March 27, 2012 at 7:00 p.m. <br />The Bonds will mature annually each December 15, <br />2012 - 2031. Interest on the Bonds will be payable <br />on December 15, 2012 and semiannually thereafter <br />on each June 15 and December 15. <br />5. Security The Bonds will be a general obligation of the City. <br />6. Prepayment Option <br />The Bonds maturing on or after December 15, 2021 <br />will be subject to prepayment on December 15, <br />2020 at a price of par plus accrued interest. <br />7. Tax Status Briggs and Morgan, St. Paul, Minnesota <br />8. Credit Rating <br />We believe a credit rating will be cost beneficial. <br />The City's general obligation debt is currently rated <br />AA+ by Standard and Poor's Corporation. <br />Page 5 <br />NORTHLANDSECURITIES <br />