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Mayor Fahey and Members of the City Council <br />October 19, 1990 <br />Page 2 <br />Rather than pay this amount to private investors, <br />I feel it is to our best advantage to earn this <br />rate of return for ourselves. <br />* Should the need arise where we want to sell this <br />bond publicly, that option is still available to <br />us. Depending on market conditions, we may be <br />able to simply sell this instrument without added <br />costs. <br />I have discussed this matter with Bob Voto, Brad Farnham <br />and Mary Ippel. All concur that this is a realistic <br />approach for this size issue. Mary Ippel of Briggs & <br />Morgan will he preparing the necessary resolution to allow <br />this transaction to occur. This resolution will be <br />available for Wednesday's meeting. (The resolution is <br />needed to make this a legal investment instrument for all <br />City funds.) <br />Should you have any comments or questions regarding my <br />proposal, please contact me at your convenience. <br />JRH:kpv <br />PAGE 122 <br />