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20071001 - VI-03
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20071001 - VI-03
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3/26/2009 10:25:13 AM
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City Council
City Council - Type
CC Packets
Date
10/15/2007
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<br />CUSIP NUMBERS <br /> <br />If the Bonds qualify for assignment ofCUSIP numbers such numbers will be printed on the <br />Bonds, but neither the failure to print such numbers on any Bond nor any error with respect <br />thereto will constitute cause for failure or refusal by the purchaser to accept delivery of the <br />Bonds. The CUSIP Service Bureau charge for the assignment of CUSIP identification numbers <br />shall be paid by the purchaser. <br /> <br />SETTLEMENT <br /> <br />Within 40 days following the date of their award, the Bonds will be delivered without cost to the <br />purchaser through DTC in New York, New York. Delivery will be subject to receipt by the <br />purchaser of an approving legal opinion of Briggs and Morgan, Professional Association, of <br />Saint Paul and Minneapolis, Minnesota, and of customary closing papers, including a no- <br />litigation certificate. On the date of settlement, payment for the Bonds shall be made in federal, <br />or equivalent, funds that shall be received at the offices of the City or its designee not later than <br />12:00 Noon, Central Time. Unless compliance with the terms of payment for the Bonds has <br />been made impossible by action of the City, or its agents, the purchaser shall be liable to the City <br />for any loss suffered by the City by reason of the purchaser's non-compliance with said terms for <br />payment. <br /> <br />CONTINUING DISCLOSURE <br /> <br />On the date of actual issuance and delivery of the Bonds, the City will execute and deliver a <br />Continuing Disclosure Undertaking (the "Undertaking") whereunder the City will covenant for <br />the benefit of the owners of the Bonds to provide certain financial and other information about <br />the City and notices of certain occurrences to information repositories as specified in and <br />required by SEC Rule 15c2-12(b)(5). <br /> <br />OFFICIAL STATEMENT <br /> <br />The City has authorized the preparation of an Official Statement containing pertinent information <br />relative to the Bonds, and said Official Statement will serve as a nearly final Official Statement <br />within the meaning of Rule 15c2-12 of the Securities and Exchange Commission. For copies of <br />the Official Statement or for any additional information prior to sale, any prospective purchaser <br />is referred to the Financial Advisor to the City, Springsted Incorporated, 380 Jackson Street, <br />Suite 300, Saint Paul, Minnesota 55101, telephone (651) 223-3000. <br /> <br />The Official Statement, when further supplemented by an addendum or addenda specifying the <br />maturity dates, principal amounts and interest rates of the Bonds, together with any other <br />information required by law, shall constitute a "Final Official Statement" of the City with respect <br />to the Bonds, as that term is defined in Rule 15c2-12. By awarding the Bonds to any underwriter <br />or underwriting syndicate submitting a proposal therefor, the City agrees that, no more than <br />seven business days after the date of such award, it shall provide without cost to the senior <br />managing underwriter of the syndicate to which the Bonds are awarded 100 copies of the <br />Official Statement and the addendum or addenda described above. The City designates the <br />senior managing underwriter of the syndicate to which the Bonds are awarded as its agent for <br />purposes of distributing copies of the Final Official Statement to each Participating Underwriter. <br /> <br />A-4 <br /> <br />2085700vl <br />
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