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NOTICE OF BOND SALE
<br />$ 2,800,000 GENERAL OBLIGATION
<br />TAX INCREMENT BONDS, SERIES 1987A
<br /> CITY OF RAMSEY
<br /> ANOKA COUNTY, MINNESOTA
<br />
<br />EXHIBIT A
<br />
<br /> NOTICE ~S HEREBY GIVEN that sealed bids for the purchase of the
<br />above bo~Lds will 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 ]00, gt~ Paul, Minnesota 55101, and will be considered at a
<br />regular meet~ing 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 fol[owJ.ng terms. The Bonds will be dated August 1, 1987, will
<br />bear ink, crest payable semiannually on each February 1 and August 1,
<br />commencing bebruary 1, I988, and will mature on February 1 in the
<br />years and am~unts as follows:
<br />
<br />Amount Year Amount
<br />
<br />1990-~99]~ $50,000 2002-2003 $200,000
<br />1992--1994 100,000 2004-2005 225,000
<br />~995~!997 125,000 2006 250,000
<br />1998.~1999 150,000 2007 275,000
<br />2000,-~00] 175,000
<br />
<br />The City may 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, 5r~ Inverse order of maturities and by lot within maturities,
<br />maturing c,n or after February 1, 1997 at a price of par plus accrued
<br />interest to date of redemption.
<br />
<br />No ra~e of fnterest nor the net effective interest rate of the issue
<br />may exceed the maximum rate permitted by law. Bidders must specify a
<br />price r~:f not less than $2,745,400 plus accrued interest. A legal
<br />opinion on v~he Bonds will be furnished by LeFevere, Lefler, Kennedy,
<br />O'Brien & Dcawz, a Professional Association, Minneapolis, Minnesota.
<br />The proceed~ of the bonds will be used to finance public development
<br />costs zelated to a tax increment financing district in the City.
<br />
<br />Bidders sho,~ld be aware that the Official Statement to be distributed
<br />for the bonds may contain additional bidding terms and information
<br />relati'w~ 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 iiatt,~r 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 Hartley
<br /> City Administrator/Clerk
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