NOTICE OF BOND SALE $995,000* GRAND FORKS PUBLIC SCHOOL DISTRICT NO.

Published May 27, 2020 at 3:01 AM

NOTICE OF BOND SALE
$995,000*
GRAND FORKS PUBLIC SCHOOL DISTRICT NO. 1
GRAND FORKS COUNTY,
NORTH DAKOTA
GENERAL OBLIGATION SPECIAL
ASSESSMENT
PREPAYMENT BONDS, SERIES 2020A

NOTICE IS HEREBY GIVEN that Grand Forks Public School District No. 1, Grand Forks County, North Dakota, will receive sealed bids in the offices of PFM Financial Advisors LLC, Minneapolis, Minnesota, until 11:30 A.M., CT, on Monday, June 8, 2020, for the purchase of the above Bonds. The School Board will meet thereafter on the date of the bid opening at 6:00 P.M. to consider the bids. The Bonds will be dated June 23, 2020, mature on August 1 in the years and in the amounts which follow, and will pay interest on each February 1 and August 1, commencing February 1, 2021:
Year Amount*
2021 $95,000
2022 80,000
2023 85,000
2024 70,000
2025 70,000
2026 70,000
2027 70,000
2028 70,000
2029 60,000
2030 65,000
2031 65,000
2032 65,000
2033 65,000
2034 65,000

Bids for the Bonds may contain a maturity schedule providing for any combination of serial bonds and term bonds, subject to mandatory redemption, so long as the amount of principal maturing or subject to mandatory redemption in each year conforms to the maturity schedule set forth above.
The Bonds maturing in the years 2029 and thereafter are subject to redemption on August 1, 2028, and any date thereafter at a price of par plus accrued interest. The Bonds will be general obligations of the School District for which the School District will pledge its full faith and credit and unlimited taxing power.
The School District is participating in the North Dakota Credit Enhancement Program for the Bonds.
Sealed bids of not less than $985,050 (99.0% of Par) must be received prior to the time specified above for opening bids. A Good Faith Deposit in the form of a Cashier's Check or wire transfer in the amount of $10,000 (1% of Par) payable to the order of the School District is required for each bid to be considered.
Proceeds from the Bonds, together with other funds, will be used to prepay outstanding special assessments made in accordance with the provisions of Title 40, N.D.C.C., against School District property. An opinion as to the tax-exempt nature of the interest on the Bonds will be provided by Arntson Stewart Wegner PC, Attorneys at Law, Fargo, North Dakota.
The School District reserves the right to reject any and all bids, to waive any informality in any bid and to adjourn the sale. No bid may be altered or withdrawn after the time specified for opening.
Additional information for bidders may be requested from and bidding forms will be distributed by PFM Financial Advisors LLC, 50 South Sixth Street, Suite 2250, Minneapolis, Minnesota 55402.
Dated May 26, 2020.
GRAND FORKS PUBLIC SCHOOL
DISTRICT NO. 1
/s/ Scott Berge
Business Manager
*Subject to change.
(May 27, 2020)2840231