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515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(651) 766 -4029 / FAX: (651) 766 -4048 <br />www. ci.little- canada. mn. us <br />MEMORANDUM <br />TO: Mayor Biesener and Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: March 21, 2008 <br />RE: Sale of $2,690,000 General Obligation Bonds, Series 2008 <br />MAYOR <br />13111 Ilieseet,er <br />COUNCIL <br />Rick Montour <br />Barbara Allan <br />John Mils <br />Michael McGraw <br />ADMINISTRATOR <br />Joel R. Hanson <br />There has been some favorable movement in the bond market since the last Council <br />meeting. Ehlers & Associates is continuing to monitor market conditions at this time. <br />Should the market look favorable on Monday, the bond sale will proceed and a <br />recommendation will be available for Wednesday's meeting. If the market does not look <br />favorable to the City, the sale will be delayed. <br />Please note that the City has maintained its favorable bond rating of Al. <br />