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<br />BOOK ENTRY SYSTEM <br /> <br />The Certificates will be issued by means of a book entry system with no physical distribution of <br />Certificates made to the public. The Certificates will be issued in fully registered form and one <br />Certificate, representing the aggregate principal amount of the Certificates maturing in each year, <br />will be registered in the name of Cede & Co. as nominee of The Depository Trust Company <br />(nDTC"), New York, New York, which will act as securities depository of the Certificates. <br />Individual purchases of the Certificates may be made in the principal amount of $5,000 or any <br />multiple thereof of a single maturity through book entries made on the books and records of DTC <br />and its participants. Principal and interest are payable by the registrar to DTC or its nominee as <br />registered owner of the Certificates. Transfer of principal and interest payments to participants <br />of DTC will be the responsibility of DTC; transfer of principal and interest payments to <br />beneficial owners by participants will be the responsibility of such participants and other <br />nominees of beneficial owners. The purchaser, as a condition of delivery of the Certificates, will <br />be required to deposit the Certificates with DTC. <br /> <br />REGISTRAR <br /> <br />The City will name the registrar, which shall be subject to applicable SEC regulations. The City <br />will pay for the services of the registrar. <br /> <br />OPTIONAL REDEMPTION <br /> <br />The Certificates will not be subject to payment in advance of their respective stated maturity <br />dates. <br /> <br />SECURITY AND PURPOSE <br /> <br />The Certificates will be general obligations of the City for which the City will pledge its full <br />faith and credit and power to levy direct general ad valorem taxes. The proceeds will be used to <br />fmance the acquisition of equipment for City purposes. <br /> <br />TYPE OF PROPOSALS <br /> <br />Proposals shall be for not less than $353,340 and accrued interest on the total principal amount <br />of the Certificates. Proposals shall be accompanied by a Good Faith Deposit C'Deposittl) in the <br />form of a certified or cashier's check or a Financial Surety Certificate in the amount of $3,600, <br />payable to the order of the City. If a check is used, it must accompany the proposal. If a <br />Financial Surety Certificate is used, it must be from an insurance company licensed to issue such <br />a bond in the State of MinnesoU4 and preapproved by the City. Such bond must be submitted to <br />Springsted Incorporated prior to the opening of the proposals. The Financial Surety Certificate <br />must identify each underwriter whose Deposit is guaranteed by such Financial Surety Certificate. <br />If the Certificates are awarded to an underwriter using a Financial Surety Certificate, then that <br />purchaser is required to submit its Deposit to Springsted Incorporated in the form of a certified or <br />cashier's check or wire transfer as instructed by Springsted Incorporated not later than 3:30 P.M., <br />Central Time, on the next business day following the award. If such Deposit is not received by <br />that time, the Financial Surety Certificate may be drawn by the City to satisfy the Deposit <br />requirement. The Deposit received from the purchaser, the amount of which will be deducted at <br /> <br />2085751vI <br /> <br />A-2 <br />