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OFFICIAL <br /> <br />NOTICE OF SALE <br /> <br />$875,000 General Obligation Improvement Bonds of 1980 <br /> City of Ramsey <br /> Anoka County, Minnesota <br /> <br /> NOTICE IS HEREBY GIVEN that the City Council of the City of <br />Ramsey, Minnesota, will meet at the City Hall in the City of Ramsey on <br />Tuesday, July 29, 1980, at 5:00 o'clock p.m., C.T., to receive, open and <br />consider bids for the purchase of $875,000 negotiable coupon, general <br />obligation bonds of the City on the following terms: <br /> <br />Purpose and Security <br /> <br /> The purpose of the bonds is to provide funds for the financing of <br />various assessable public improvements in the City. The bonds will be <br />general obligations of the issuer, for which its full faith, credit and <br />taxing powers are pledged. <br /> <br />Date and Maturities <br /> <br /> The bonds will be dated September 1, 1980, will be in denom- <br />ination of $5,000 each and will mature on September 1 in the following <br />years and amounts: <br /> <br />Year Amount Year Amount <br />1981 $55,000 1986 $ 95,000 <br />1982 65,000 1987 100,000 <br />1983 70,000 1988 105,000 <br />1984 75,000 1989 115,000 <br />1985 80,000 1990 115,000 <br /> <br />Redemption Feature <br /> <br />Ail bonds of this issue will be without right of prior redemp- <br /> <br />tion. <br /> <br />Interest <br /> <br /> Interest on the bonds will be payable on September 1, 1981, and <br />semiannually thereafter on each March 1 and September 1. Ail bonds matur-- <br />ing on the same date must bear interest from date of issue until paid at a <br />single, uniform rate, not exceeding the rate specified for bonds of any <br />subsequent maturity. No limit on the number of interest rates that may be <br />specified for the issue. Each rate must be in an integral multiple of <br />5/100 of 1%, and no rate of interest nor the net effective average rate of <br />the issue may exceed 12% per annum. <br /> <br /> <br />