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EXHIBIT A
<br /> TERMS OF OFFERING
<br /> City of Pequot Lakes, Minnesota
<br /> �2,115,000
<br /> General Obligation Utility Revenue and Disposal System Bonds, Series 2020A
<br /> (BOOK ENTRY ONLY)
<br /> TERMS OF PROPOSAL
<br /> Proposals for the Bonds will be received on Tuesday, April 7, 2020 at 11:00 A.M. Central Time, at the offices of
<br /> David Drown Associates, Inc., 5029 Upton Avenue South, Minneapolis, Minnesota, after which time they will be
<br /> opened and tabulated. Consideration for award of the Bonds will be by the City Council at 6:30 P.M., Central
<br /> Time, on that same date.
<br /> SUBMISSION OF PROPOSALS
<br /> Proposals may be submitted in a sealed envelope or by fax (612) 605-2375 to David Drown Associates, Inc.
<br /> Signed Proposals, without final price or coupons, may be submitted to David Drown Associates, Inc. prior to the
<br /> time of sale. The bidder shall be responsible for submitting to David Drown Associates, Inc. the final Proposal
<br /> price and coupons, by telephone (612)920-3320 or fax(612)605-2375 for inclusion in the submitted Proposal.
<br /> David Drown Associates, Inc. will assume no liability for the inability of the bidder to reach David Drown
<br /> Associates, Inc. prior to the time of sale specified above.
<br /> Notice is hereby given that electronic proposals will be received via PARITY°, in the manner described below,
<br /> until 11:00 A.M., CST, on April 7, 2020. Bids may be submitted electronically via PARITY� pursuant to this
<br /> Notice until 11:00 A.M., CST, but no bid will be received after the time for receiving bids specified above. To the
<br /> extent any instructions or directions set forth in PARITY°conflict with this Notice, the terms of this Notice shall
<br /> control. For further information about PARITY�, potential bidders may contact David Drown Associates, Inc. or
<br /> PARITY°at(212)806-8304.
<br /> Neither the City of Pequot Lakes nor David Drown Associates, Inc. assumes any liability if there is a malfunction
<br /> of PARITY. All bidders are advised that each Proposal shall be deemed to constitute a contract between the
<br /> bidder and the City to purchase the Bonds regardless of the manner of the Proposal submitted.
<br /> DETAILS OF THE BONDS
<br /> The Bonds will be dated April 27, 2020, as the date of original issue, and will bear interest payable on February
<br /> 1 and August 1 of each year, commencing February 1, 2021. Interest will be computed on the basis of a 360-
<br /> day year of twelve 30-day months. The Bonds will mature February 1 in the years and amounts as follows:
<br /> Year Amount Year Amount
<br /> 2021 $ 30,000 2029 $ 140,000
<br /> 2022 125,000 2030 140,000
<br /> 2023 125,000 2031 140,000
<br /> 2024 130,000 2032 140,000
<br /> 2025 130,000 2033 150,000
<br /> 2026 130,000 2034 150,000
<br /> 2027 135,000 2035 155,000
<br /> 2028 135,000 2036 160,000
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