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NOTICE OF BOND SALE <br /> $365,000 <br />GENERAL OBLIGATION IMPROVEMENT BONDS OF 1980, SERIES II <br /> City of Ramsey, Minnesota <br /> (Anoka County) <br /> <br /> NOTICE IS HEREBY GIVEN that the City Council of the City of <br />Ramsey, Minnesota, will meet at the City Hall in said City on Tuesday, <br />October 28, 1980, at 7:30 p.m. for the purpose of receiving and con- <br />sidering sealed bids for the purchase of $365,000 General Obligation <br />Improvement Bonds, all bonds dated December 1, 1980, bearing interest <br />payable December 1, 1981, and semiannually thereafter on June 1 and <br />December 1 and maturing serially on December 1 in the years and amounts <br />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 /> All bonds issued without right of prior redemption. The bonds of <br />the City are to be issued pursuant to Chapters 429 and 475 of the <br />Minnesota Statutes. Bonds will be in the denomination of $5000 each <br />unless the purchaser within 48 hours after award specifies a higher <br />denomination in multiples of $5000. <br /> <br /> The bonds will bear interest at the rate or rates specified by <br />the successful bidder, subject to the limitations stated below. <br />Principal and interest will be made payable at any suitable banking <br />institution designated by the successful bidder subject to the appro- <br />val of the City, and the City will pay reasonable and customary paying <br />agency charges. Within 40 days after award of the sale and without <br />cost to the purchaser, the City will furnish and deliver to the suc- <br />cessful bidder anywhere in the Continental United States the printed <br />and executed bonds and the unqualified approved legal opinion of <br />Messrs. LeFevere, Lefler, Kennedy, O'Brien and Drawz of Minneapolis, <br />Minnesota, and the customary final delivery papers, including a cer- <br />tificate showing absence of litigation° Payment must be made in <br />federal or other immediately available funds. <br /> <br /> Split rate bids may be submitted stating the same rate or rates <br />of interest from date of issue to maturity for all bonds having a <br />common maturity. No basic rate applicable to bonds maturing in any <br />one year may be lower than the basic rate applicable to bonds maturing <br />in any earlier year. Each interest rate must be expressed in an <br />integral multiple of 5/100ths of one percent (1%). No rate may exceed <br />twelve percent (12%) per annum on any bond for any portion of its <br /> <br /> <br />