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10-03-05
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10-03-05
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1/12/2009 8:24:55 AM
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10/27/2005 3:18:23 PM
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City Council
City Council - Type
CC Packets
Date
10/27/2005
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<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 <>wners 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 150 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 />Any underwriter delivering a proposal with respect to the Bonds agrees thereby that if its <br />proposal is accepted by the City (i) it shall accept such designation and (ii) it shall enter into a <br />contractual relationship with all Participating Underwriters of the Bonds for purposes of assuring <br />the receipt by each such Participating Underwriter of the Final Official Statement. <br /> <br />Dated October 3, 2005 <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br />Is! Melanie Mesko Lee <br />City Clerk <br /> <br />A-5 <br /> <br />18 I 9098v I <br />
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