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Pa¥in~ A~ent <br /> <br /> The Registrar will be First National Bank of Minneapolis, in <br />Minneapolis, Minnesota, which shall be subject to applicable SEC <br />regulations. Principal will be payable at the principal office of the <br />Registrar and interest will be payable by check or draft of the <br />Registrar mailed to the registered holder of a bond. The City will <br />pay the reasonable and customary charges for the services of the <br />Registrar. <br /> <br />CUSIP Numbers <br /> <br /> The City will assume no obligation for the assignment or <br />printing of CUSIP numbers on the bonds or for the correctness of any <br />numbers printed thereon, but will permit such numbers to be assigned <br />and printed at the expense of the purchaser, if the purchaser waives <br />any extension of the time of delivery caused thereby. <br /> <br />Delivery <br /> <br /> Within 40 days after sale, the City will furnish and deliver <br />to the office of the purchaser or, at his option, will deposit with a <br />bank in the United States selected by him and approved by the City as <br />its agent to permit examination by and to deliver to the purchaser, <br />the printed and executed bonds, the unqualified opinion thereon of <br />bond counsel, and a certificate stating that no litigation in any <br />manner questioning their validity is then threatened or pending. The <br />charge of the delivery agent must be paid by the purchaser, but all <br />other costs will be paid by the City. The purchase price must be paid <br />upon delivery of the bonds in funds available for expenditure by the <br />City on the day of payment. <br /> <br />Legal Opinion <br /> <br /> An unqualified legal opinion on the bonds will be furnished <br />by LeFevere, Lefler, Kennedy, O'Brien & Drawz, a Professional Associa- <br />tion of Minneapolis, Minnesota. The legal opinion will be printed on <br />the bonds at the request of the purchaser. The legal opinion will <br />state that the bonds are valid and binding general obligations of the <br />City, payable primarily from special assessments against benefited <br />property, and that the City is obligated and required to levy taxes <br />for the principal and interest thereon as the same become due without <br />limit as to rate or amount. <br /> <br />Type of Bid - Amount <br /> <br /> Sealed bids must be mailed or delivered to the undersigned <br />and must be received prior to the time of said meeting. Each bid must <br />be unconditional and must be accompanied by a cashier's or certified <br />check or bank draft in the amount of $40,900, payable to the City <br />Clerk, to be retained by the City as liquidated damages if the bid is <br />accepted and the bidder fails to comply therewith. The bid author- <br />izing the lowest net interest cost (total interest from date of bonds <br />to stated maturities, less any cash premium or plus any amount less <br />than $2,045,000 bid for principal) will be deemed the most favorable. <br />No oral bid and no bid of less than $2,005,000 for principal plus <br />accrued interest on all of the bonds will be considered, and the City <br /> <br /> <br />