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132047978v2 <br /> <br /> <br /> <br />[Letterhead of Bremer Bank, National Association] <br />April 24, 2024 <br />City of Little Canada <br />515 Little Canada Road E <br />Little Canada, MN 55117 <br />Re: City of Little Canada, Minnesota – Capital Campaign Financing Note, Series <br />2024 (Saint Paul Academy and Summit School Project) <br />Ladies and Gentlemen: <br />At the request of Saint Paul Academy and Summit School, a Minnesota nonprofit <br />corporation (the “Borrower”), we have reviewed the proposal that the City of Little Canada, <br />Minnesota (the “City”) issue revenue notes or other obligations (the “Obligations”) under the <br />provisions of the Minnesota Municipal Industrial Development Act to provide funds to finance <br />capital campaign bridge financing relating to the Borrower’s renovation of its lower school campus <br />located at 1150 Goodrich Avenue in the City of Saint Paul, Minnesota (the “Project”). <br />Our review has led us to the conclusion that on the basis of current financial conditions, <br />the Project is feasible from a financial standpoint and we expect to purchase the Obligations when <br />issued. <br />We understand a copy of this letter will be forwarded by the City to the Minnesota <br />Department of Employment and Economic Development to serve as the letter of feasibility <br />required by the Commissioner. <br /> Sincerely, <br /> Bremer Bank, National Association <br /> By _________________________ <br /> Its_______________________ <br /> <br />