Laserfiche WebLink
SUMMARY OF RECOMMENDED TERMS <br />1. Type of Bond Sale <br />2. Pricing <br />3. Council Consideration <br />4. Repayment Term <br />Public Sale — Negotiated with Northland <br />August 7, 2013 <br />Tuesday, August 13, 2013 <br />The interest on the Certificates will be payable on <br />June 1, 2014 and semiannually thereafter on each <br />December 1 and June 1. Principal will be paid <br />annually on December 1, 2014 through 2023. <br />5. Security General obligation of the City. <br />6. Prepayment Option <br />The Certificates maturing December 1, 2020 and <br />any day thereafter will be subject to prepayment on <br />December 1, 2019 at a price of par plus accrued <br />interest. <br />7. Tax Status Tax exempt opinion provided by Briggs & Morgan. <br />8, Credit Rating <br />The City's general obligation debt is currently rated <br />AA+ by Standard & Poor's Corporation. It will be <br />beneficial for the City to obtain a rating for the <br />Certificates. <br />Page 3 <br />NORTHLAND <br />SECURITIES <br />