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Mr. Joseph Chlebeck <br />Clerk - Treasurer <br />City Hall <br />515 Little Canada Road <br />Little Canada, MN 55117 <br />Dear Mr. Chlebeck: <br />January 28, 1985 <br />JURAN & MOODY, INC. <br />Investment Securities Since 1939 <br />Minnesota Mutual Life Center <br />400 North Robert Street - Suite 800 <br />Saint Paul, Minnesota 55101 -2091 <br />Telephone 612/224 -1500 <br />Minn. Wats 1-800-752-4886 <br />Outstate Wats 1 -800- 328 -3833 <br />-- . OF <br />i_E C.4Ni,C. <br />Juran & Moody has peen active in the tax ex ptrtinande business <br />continuously since 1939. N,e pioneered TAX- EXaVI---SSE PU1CgSSE <br />FINAt.CIM in the State of Minnesota in 1968 by financing a city hall <br />for a major city. Tax - exempt lease purchase financing can be the <br />perfect solution to your equipment and real estate projects which <br />are difficult to finance under conventional financing techniques. <br />Also utilizing lease funds, rather than general fund balances, can <br />rapidly improve your liquidity position and possibly provide <br />advantageous investment opportunities. <br />Enclosed please find two notices from lease purchase contracts we <br />have recently closed. The City of Mac= REIMS needed a new city <br />hall due to rapid growth. We structured the lease to include a <br />twelve month construction pnase with interest costs covered by <br />capitalized interest. The principal is then amortized over a <br />fifteen year term with principal and interest repaid on a semiannual <br />basis subject to annual appropriations, thus avoiding a voter <br />referendum. <br />Also we financed an addition to a gymnasium owned by L'i3 DS VIEW <br />INDEPI3hDENT SCHOOL DISTRICT #621. The school district's opligation <br />to make lease payments is covered by a joint powers agreement with <br />the City of Shoreview in exchange for available recreation tines for <br />city residents. <br />I have also included notices from transactions we have recently <br />closed with the City of SI- IOREVIEW, CHASKA and APPLE VALLEY, <br />I realize that real estate lease purchase financing is reasonably <br />new to the State of Minnesota, but we believe that we have gained <br />valuable experience that we are anxious to share with you. <br />Please call us at your convenience to discuss the details of the <br />enclosed transactions or any projects that you are considering. <br />SRF /eh <br />Very truly yours, <br />URAN & MOODY, INC. <br />SteJen R. Fenian <br />Vice President <br />Municipal Leasing Department Head <br />Saint Paul, MN - Minneapolis, MN - Houston, TX - Clearwater, FL <br />