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EXHIBIT A <br />� THE CITY HAS AUTHORIZED SPRINGSTED INCORPORATED TO NEGOTIATE THIS <br />ISSUE ON ITS BEHALF. PROPOSALS WILL BE RECEIVED ON THE FOLLOWING BASIS: <br />TERMS OF PROPOSAL <br />$1,270,000" <br />CITY OF PEQUOT LAKES, MINNESOTA <br />GENERAL OBLIGATION UTILITY REFUNDING BONDS, SERIES 2012A <br />(BOOK ENTRY ONLY) <br />Proposals for the Bonds and the Good Faith Deposit ("Deposit") will be received on Tuesday, <br />July 10, 2012, until 10:00 A.M., Central Time, at the offices of Springsted Incorporated, <br />380 Jackson Street, Suite 300, Saint Paul, Minnesota, after which time proposals will be opened <br />and tabulated. Consideration for award of the Bonds will be by the City Council at 6:30 P.M., <br />Central Time, of the same day. <br />SUBMISSION OF PROPOSALS <br />Springsted will assume no liability for the inability of the bidder to reach Springsted prior to the <br />time of sale specified above. All bidders are advised that each Proposal shall be deemed to <br />constitute a contract between the bidder and the City to purchase the Bonds regardless of the <br />manner in which the Proposal is submitted. <br />(a) Sealed Biddinq. Proposals may be submitted in a sealed envelope or by fax <br />`, (651) 223-3046 to Springsted. Signed Proposals, without final price or coupons, may be <br />submitted to Springsted prior to the time of sale. The bidder shall be responsible for submitting <br />to Springsted the final Proposal price and coupons, by telephone (651) 223-3000 or fax <br />(651) 223-3046 for inclusion in the submitted Proposal. <br />� <br />OR <br />(b) Electronic Biddinq. Notice is hereby given that electronic proposals will be received via <br />PARITY`�'. For purposes of the electronic bidding process, the time as maintained by PARITY�' <br />shall constitute the official time with respect to all Bids submitted to PARITY�'. Each bidder shall <br />be solely responsible for making necessary arrangements to access PARITI'�' for purposes of <br />submitting its electronic Bid in a timely manner and in compliance with the requirements of the <br />Terms of Proposal. Neither the City, its agents nor PARITY�' shall have any duty or obligation to <br />undertake registration to bid for any prospective bidder or to provide or ensure electronic access <br />to any qualified prospective bidder, and neither the City, its agents nor PARITY� shall be <br />responsible for a bidder's failure to register to bid or for any failure in the proper operation of, or <br />have an�r liability for any delays or interruptions of or any damages caused by the services of <br />PARITY`g'. The City is using the services of PARITY�' solely as a communication mechanism to <br />conduct the electronic bidding for the Bonds, and PARITY�' is not an agent of the City. <br />If any provisions of this Terms of Proposal conflict with information provided by PARITY�', this <br />Terms of Proposal shall control. Further information about PARITY�', including any fee charged, <br />may be obtained from: <br />PARITY�, 1359 Broadway, 2"d Floor, New York, New York 10018 <br />Customer Support: (212) 849-5000 <br />' Preliminary,� subject to change. <br />A-1 <br />4699731v1 <br />