05-13-1985 Council Packet - Laserfiche WebLink

Home Browse Search

OFFICIAL NOTICE OF BOND SALE $900,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1985 CITY OF ORONO, HENNEPIN COUNTY, MINNESOTA NOTICE IS HEREBY GIVEN That these bonds will be offered for sale according to the following terms: TIME AND PLACE: Bids will be received by the City Finance Director on Monday, June 10, 1985, until 4:00 o'clock P.M., at the City Ha,l, City of Orono, Minnesota. The City Council will meet at 7:00 o'clock P.M. the same day to consider the bids and award the sale. TYPE OF BOND: Fully registered general obligations in the denomination of $5,000 or any integral multiple thereof up to the amount of any single maturity as specified by the purchaser. PURPOSE: Financing of local improvement projects in the City pursuant to Minnesota Statutes, Chapter 429. DATE OF BONDS: July 1, 1985. INTEREST PAYMENTS: January 1, 1986 and semiannually thereafter on January 1 and July 1. MATURITIES: January 1 in amounts and each of the years as follows: 6 50,000 in 1907 to 1992, $ 60,000 in 1993 to 1997, and $ 75, W in 1998 to 2001, all years inclusive REDEMPTION: All bonds maturing on or after January 1, 1996 shall be subject to redemption and prior payment in whole or in part in inverse order of maturity on January 1, 1995 and any interest payment date thereafter at par and accrued interest. REGISTRAR, TRANSFER AGENT AND PAYING AGENT: The Registrar, Transfer Agent and Paying Agent will be a bank or trust company designated by the City at the time of award of the sale of the bonds and the City will reserve the right to select such successor agents as the City may hereafter designate by notice to the registered owners of bonds not less than 60 days prior to any change. Interest shall be paid by check or draft mailed to registered owners of bonds as shown by the registrat'on O:L