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Sale Day Report — February 12, 2014 <br />City of Little Canada, Minnesota <br />$3,400,000 General Obligation Bonds, Series 2014A <br />Purpose: <br />Rating: <br />Number of Bids: <br />Low Bidder: <br />Comparison from <br />Lowest to Highest Bid: <br />To finance the construction of a new public works facility in the City. <br />Standard & Poor's "AA +" (upgrade from "AA ") <br />5 <br />UBS Financial Services Inc. <br />New York, NY <br />Low Bid High Bid <br />2.9779% 3.0247% <br />Summary of Results: Projected Results of Sale Difference <br />Principal Amount: $3,400,000 $3,400,000 $0 <br />Project Proceeds: $3,300,000 $3,413,278 $113,278 <br />Reoffering Premium: $0 $82,931 $82,931 <br />True Interest Cost: 3.4858% 2.9779% - 0.5079% <br />Cost of Issuance: $55,000 $38,203 - $16,797 <br />Underwriter's Discount: $40,800 $31,450 - $9,350 <br />Annual Payment: $235,379 $231,034 - $4,346 <br />Closing Date: <br />Council Action: <br />Attachments: <br />March 11, 2014 <br />Resolution authorizing issuance, awarding the sale, prescribing the <br />form and details and providing for the payment of $3,400,000 General <br />Obligation Bonds, Series 2014A. <br />• Bid Tabulation <br />• Sources & Uses of Funds <br />• Updated Debt Service Schedules <br />• Rating Report <br />• Bond Resolution <br />