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NOTICE OF BOND SALE <br />$160,000 TAXABLE GENERAL OBLIGATION <br /> TAX INCREMENT BONDS, SERIES I987C <br /> CITY OF RAMSEY <br /> ANOKA COUNTY, MINNESOTA <br /> <br />EXHIBIT A <br /> <br /> NOTICE its HEREBY GIVEN that sealed bids for the purchase of the <br />above bo~ds w~ll be opened on Tuesday, July 7, 1987, at 1:00 p.m., <br />C.D.T., at the offices of Springsted, Inc., 85 East Seventh Place, <br />Suite ~(1¢1~ St. Paul, Minnesota 55101, and will be considered at a <br />regular meet5ng of the City Council at 7:30 p.m. on Tuesday, July 7, <br />1987, at th~z City Hall in Ramsey, Minnesota. The Bonds are offered on <br />the followin;~ terms. The Bonds will be dated August 1, 1987, will <br />bear Jnt~res~ payable semiannually on each February 1 and August 1, <br />commencing F~bruary 1, 1988, and will mature on February I in the <br />years and amounts as follows: <br /> <br />Year Amount <br /> <br />1990-1991 $15,000 <br />1992-1995 20,000 <br />1996-1997 25,000 <br /> <br />The C~ty ,:a? elect on February 1, 1996 or on any interest payment date <br />thereaft~r to redeem and prepay bonds of this issue in whole or in <br />part, ~×~ £nverse order of maturities and by lot within maturities, <br />maturing oo ?ebruary 1, 1997 at a price of par plus accrued interest <br />to date ~,f! r~:~demption. <br /> <br />No rate ol :l~terest nor the net effective interest rate of the issue <br />may e~ceed the maximum rate permitted by law. Bidders must specify a <br />price of not less than $156,900 plus accrued interest. A legal <br />opinion om the Bonds will be furnished by LeFevere, Lefler, Kennedy, <br />O'Brien a Drawz, a Professional Association, Minneapolis, Minnesota. <br />The proceeds of the bonds will be used to finance public development <br />costs re.i_~te-/ to a tax increment financing district in the City. <br /> <br />Bidders should be aware that the Official Statement to be distributed <br />for the bon~is may contain additional bidding terms and information <br />relative to the bonds. In the event of a variance between statement <br />in this NotJ. ce of Bond Sale and the Official Statement the provisions <br />of the [a{te~ shall be those with which to comply. <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br /> /s/ David Hartlev <br />City AdministratorTClerk <br /> <br />Dated~ J~ne 9 , 1987o <br /> <br /> <br />