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` .� �. j �. . RESOLUTZON #2676 • 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 registration books of the City on the 15th day of the month preceding each interest payment date. The bonds will be transferable only upon the registration books of the City kept by the Registrar. CUSIP NUMBERS: It is anticipated the CUSIP identification numbers will be printed on the bonds, but neither the failure to print such number on any bond or any error with respect thereto shall constitute cause for a failure or refusal by the purchaser thereof to accept delivery of and pay for said bonds in accordance with the terms of sale. All egpenses in relation to the printing of •CUSIP numbers on the bonds shall be paid for by the City; provided, however, that the CUSIP Service Bureau charge for the assignment of said numbers shall be the responsibility of and shall be paid for by the purchaser. DELIVERY: Within 30 days of the award of sale, subject to the approving legal opinion of Faegre & Benson, Minneapolis, Minnesota. Bond printing and legal opinion will � be paid by the City and delivery will be against payment in • immediately available funds anywhere in the continental United � States without cost to the purchaser. TYPE OF BID: Sealed bids for not less than $2,255,350 plus accrued interest on the principal amount of $2,300, 000 from the date of the bonds to the date of delivery must be received by the Finance Director prior to the time specified above. A good faith deposit in the amount of $46, 000 must be submitted with each bid. The good faith deposit must be in the form of a certified or cashier' s check or bank draft or a wire transfer of funds to Resource Bank & Trust Company, in Minneapolis, Minnesota, ABA #09-10-0550-6 for further credit to Ehlers and Associates, Inc. , Bond Issue Escrow Account #850-788-1, Attention Molly Majerle. The good faith deposit will be retained by the City as liquidated damages if the bid 'is accepted and the bidder fails to comply therewith. The good faith deposit will be returned to the purchaser at the closing for the bonds . RATES: All rates must be in integral multiples of 5/100ths or 1/8th of 1% and no rate may exceed the maximum rate � permitted by law. All bonds of the same maturity shall bear a single uniform rate from date of issue to maturity. The interest rate for the bonds of any maturity shall not e�ceed . the rate specified for any subsequent maturity. • AWARD: The bid offering the lowest net interest cost will be deemed most favorable. The net interest cost is to be -4-