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NOTICE OF BOND SALE <br />$400,000 TAXABLE GENERAL OBLIGATION <br /> TAX INCREMENT BONDS, SERIES 1987B <br /> CITY OF RAMSEY <br /> ANOKA COUNTY, MINNESOTA <br /> <br />EXHIBIT A <br /> <br /> NOT~;~ 1~ HEREBY GIVEN that sealed bids for the purchase of the <br />above bond~ will be opened on Tuesday, July 7, 1987, at I:00 p.m., <br />C.D.T.~ st tim offices of Springsted, Inc., 85 East Seventh Place, <br />Suite 10©~ S~., Paul, Minnesota 55101, and will be considered at a <br />regular meeting of the City Council at 7:30 p.m. on Tuesday, July 7, <br />1987, at the City Hall in Ramsey, Minnesota. The Bonds are offered on <br />the following terms. The Bonds will be dated August 1, 1987, will <br />bear i~teres~ payable semiannually on each February I and August 1, <br />commencing February 1, 1988, and will mature on February I in the <br />years ~nd ;~mo~nts as fo].lows: <br /> <br />Yea ~ Amount: Year Amount <br /> <br />1990~1992 $i0,000 2003-2004 $30,000 <br />199:3~1997 15,000 2005 35,000 <br />199g~1999 20,000 2006 40,000 <br />2000=2002 25,000 2007 45,000 <br /> <br />The City may eiect on February 1, 1996 or on any interest payment date <br />thereaf~:e.r to redeem and prepay bonds of this issue in whole or in <br />part, i~ i~verse order of maturities and by lot within maturities, <br />maturing on ~r after February 1, 1997 at a price of par plus accrued <br />interest to date of redemption. <br /> <br />No rate of interest nor the net effective interest rate of the issue <br />may exceed tlte maximum rate permitted by law. Bidders must specify a <br />price of not less than $392,100 plus accrued interest. A legal <br />opinion on the Bonds will. be furnished by LeFevere, Lefler, Kennedy, <br />O'Brien & Drawz, a Professional Association, Minneapolis, Minnesota. <br />The pz'o~:eeds of the bonds will be used to finance public development <br />costs reilated to a tax increment financing district in the City. <br /> <br />Bidders ,~bot~il~d be aware that the Official Statement to be distributed <br />for the bonds may contain additional bidding terms and information <br />relatJw~ to the bonds. In the event of a variance between statement <br />in this Notice of Bond Sale and the Official Statement the provisions <br />of the l~itte,' shall be those with which to comply. <br /> <br />BY ORDER OF THE CITY COUNCIL- <br /> <br />Dated~ <br /> <br />June 9 , 1987. <br /> <br /> /s/ Daivd Hartle~ . <br />City Administrator/Clerk <br /> <br /> <br />