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3. That the City Clerk-Treasurer is hereby directed to cause <br />notice of said sale to be given by publication at least 10 days in <br />advance of the sale in the official newspaper and in Commercial West, <br />a financial paper published in Minneapolis, Minnesota, with general <br />circulation throughout the State of Minnesota, which notice shall <br />recite that the City of Ramsey proposes to issue and sell its bonds in <br />denominations of $5000 or such higher denominations as requested by <br />the successful bidder within 48 hours after sale of the bonds, and <br />that the bonds shall be numbered consecutively commencing with <br />number 1, shall be dated December 1, 1980, to bear interest on Decem- <br />ber 1, 1981, and semiannually thereafter on the first day of June and <br />December in each year, maturing serially on December 1 in the years <br />and amounts as follows: <br /> <br />YEAR AMOUNT YEAR AMOUNT <br />1982 $30,000 1987 $40,000 <br />1983 30,000 1988 50,000 <br />1984 35,000 1989 50,000 <br />1985 35,00 1990 55,000 <br />1986 40,000 <br /> <br />Ail bonds issued without right of prior redemption. <br /> <br /> Said notice shall recite that the City within 40 days from date <br />of sale will furnish the printed bonds and approving legal opinion of <br />Messrs. LeFevere, Lefler, Kennedy, O'Brien and Drawz, 1100 First <br />National Bank Building, Minneapolis, Minnesota, both without cost to <br />purchaser, and that the bonds will be made payable at any suitable <br />bank or trust company designated by the successful bidder, all bids to <br />be accompanied by a good faith check in the amount of at least $7,300 <br />to be forfeited as liquidated damages in the event the bid is accepted <br />by the City and the bidder fails to comply therewith; that no bid of <br />less than $360,775 will be accepted; that the Council reserves the <br />right to reject any and all bids, to waive informalities, and to <br />adjourn the sale if deemed expedient. <br /> <br /> 4. The City Council shall meet at the City Hall in said City on <br />Tuesday, the 28th day of October, 1980, at 7:30 p.m. for the purpose <br />of considering sealed bids for the purchase of said bonds and take <br />such other action in respect thereto as may be found necessary or <br />expedient. <br /> <br /> <br />