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L• '� �. . RESOLUTZON #2676 • OFFICIAL NOTICE OF BOND SALE $2 ,300,000 GENERAL OBLIGATION WATER AND SEWER REVENUE BONDS, SERIES 1989 ' 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 at the offices of Ehlers and Associates, Inc. , 2950 Norwest Center, Minneapolis, Minnesota, until 11: 00 o'clock a.m. on Monday, September 11, 1989 . The City Council will meet at 7: 00 o 'clock p.m. on the same day at the City Hall, Orono, Minnesota, 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: Constructing various water and sewer • improvements pursuant to Section 444 . 075 and Chapter 429, Minnesota Statutes . , DATE OF BONDS: September 16, 1989 . INTEREST PAYMENTS: August 1, 1990 and semiannually thereafter on February 1 and August 1 of each year. MATURITIES: February 1 in amounts and each of the years as follows: $175, 000 in 1993, $225, 000 in 1998, $175, 000 in 1994, $250, 000 in 1999, � $200, 000 in 1995, $275, 000 in 2000, $200, 000 in 1996, $275, 000 in 2001, $225,000 in 1997, � $300, 000 in 2002, REDEMPTION: All bonds maturing on or after February 1, 1997, are subject to redemption and prior payment � in whole or in part in inverse order of maturity, and by lot within a maturity, at the option of the City on February l, 1996 and any interest payment date thereafter at par and accrued interest. . REGISTRAR, TRANSFER AGENT AND PAYING AGENT: The initial Registrar, Transfer Agent and Paying Agent will be • selected by the City at the time of sale and the City will reserve the right to select such successor agents as the City - -3-