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• � �XHIBIT A OFFICIAL NOTICE OF SALE - • $ 270 ,000 GENERAL OBLIGATION STATE-AID ROAD BONDS OF 1979 CITY OF ORONO, MINNESOTA NOTICE IS HEREBY GIVEN THAT the City Council will meet at City Hall in the City of Orono, Minnesota, on Tuesday, June 26, 1979 , at 4 :00 o 'clock P.M. , C.D.T. , to receive and . open bids for the purchase of $270 ,000 negot�able coupon bonds of the City. The City Council will meet on the same day at � 7 : 00 o 'clock P.M. for the purpose of considering the bids received on the following terms: � Purpose and Security - The proceeds of the bonds will be used to pay the cost of con- � structing and improving municipal state-aid streets within the City. The bonds are being issued pursuant to Section 162. 18, - Minnesota Statutes, and will be payable primarily from amounts � to be allotted� to the City in the City's State-Aid Street Fund, but are general obligations of the City to which the full faith, credit and taxing powers of the City will be pledged. � • Date and Maturities The Bonds will be dated July l, 1979, will be in denomina- tions of $1,000 or $5, 000 each (bidder's option) and will mature on APril 1, without option of prior payment, in the years and amounts as follows: � . • Year. Amount . Year Amount 1981 $30, 000 1985 � $35,000 1982 30,000 1986 35,000 1983 � 30,000 � 1987 40,000 � 1984 35,000 1988 35, 000 Interest Interest on the bonds will be payable on April 1� 7-98p, and � semi-annually thereafter on each Octo�er :::l and April l. All� bonds maturing on the same date must bear interest from date of issue until paid at a single, uniform rate, not exceeding the rate specified for bonds of any subsequent maturity. There is no limitation as to the number of rates which may be specified . for the issue. Each rate must be an integral multiple of 5/100 of 1%, and no rate of interest nor the net effective average � rate of the issue may exceed 7% per annum. No supplemental or � "B" coupons will be permitted. � •