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THE c['rY HAS AUTHORIZED SPP, INGSTED INCORPORATED TO NEGOTLA,TE THIS <br />ISSUE ON ITS BEHALF, PROPOSALS VVILL BE RECEIVED ON THE FOLLOVVING BASIS: <br /> <br />TERMS OFPRO?OSAL <br /> <br /> $1,195,000 <br /> CITY OF RAMSEY, MINNESOTA <br />GENERAL OBI[GAT]ON TAX INCREMENT BONDS, SEPJES 1999A <br /> <br />(BOOK ENTRY ONLY) <br /> <br />Proposa{s for the Bonds w~l be received on Tuesday2', January 12, 1999, unQ'l 11:00 A.M., <br />Central Time, at the offices of Spfingsted Incorporated, 85 East Seventh Place, Suite 100, Saint <br />Paul, Minnesota, after which time they will be opened and tabulated. Consideration for award <br />of the Bonds will be by the City Counc~'l at 7:00 PoM., Central Time. of t~e same day. <br /> <br />SUBMISSION OF PROPOSALS <br /> <br />Proposals may be submitted in a sealed envelope or by fax (651)223-3002 to Spfingsted. <br />Signed Proposals, without final pr[ce or coupons, may be' submitted to Springsted prior to the <br />time of sale. The bidder shall be respons~ie for submitting to Spr[ngsted the final Proposal <br />price and coupons, by telephone (651)223-3000 or fax (651)223-3002 for inclusion in the <br />submitted Proposal. Sprlngsted will assume no liability for the inability of the bidder to reach <br />Spdngsted prior to the time of sale specified above. All bidders are advised that each Proposal <br />shall be deemed to consortia a contract between the bidder and the City to purchase the Bonds <br />regard[ess of the manner of the Proposal submitted. <br /> <br />DETAILS OF THE OBLIGATIONS <br /> <br />The Bonds will be dated January 1, 1999, as the date of original issue, and will bear interest <br />payable on January 1 and July 1 of each year, commencing July 1, 1999. Interest will be <br />computed on the basis of a 360-day year of twelve 30-d~y months. <br /> <br />The Bonds will mature January 1 in the years and amounts as foliows: <br /> <br />2001 $25,000 2005 $9[~,000 2008 $100,000 2011 $115,000 <br />2002 $-/'5,000 2006 $95,000 2009 $105,000 2012 $120,000 <br />2003 $80,000 2007 $95,000 2010 $I10,000. 20~3 $100,000 <br />2004 $85,q00 ; ., <br /> <br />ProposaLs for the Bonds may contain a maturity schedule providing for a combination of serial <br />bonds and term bonds, provided that no seria[ bond may mature on or after the first mandatory <br />sinking fund redemption date of any term bond. All term bonds shall be subject to mandatory <br />sinking fund redemption and must conform to the maturffy schedule set forth above at a price of <br />par plus accrued interest to the date of redemption. In order to designate term bonds, the <br />proposal must specify 'Last Year of Seda~ Maturities" and "Years of Term MatudlJes' in the <br />spaces provided on the Proposal Form. <br /> <br />BOOK ENTRY SYSTEM <br /> <br />The 'Bonds will be Issued by means of a book enfa7 system with no physical distribution of <br />Bonds made to the public. The Bonds wil[ be issued in fully registered form and one Bond, <br />representing the aggregate principal amount of the Bonds matudng in each year_, will be <br /> <br />-i- <br /> <br /> <br />