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515 Little Canada Road, Little Canada, MN 55117-1600 <br />(651) 766-4029 / FAX: (651) 766-4048 <br />www.cilittle-canada.mn.us <br />MEMORANDUM <br />TO: Mayor Keis & Members of the City Council <br />FROM: Joel Hanson, City Administrator <br />DATE: April 17, 2015 <br />MAYOR <br />John Keis <br />COUNCIL <br />Rick Montour <br />Michael McGraw <br />Tom Fischer <br />Christian Torkelson <br />ADMINISTRATOR <br />Joel R. Hanson <br />RE: Authorize Letter of Engagement with Ehlers & Associates — Dissemination Agent for <br />Continuing Disclosure <br />Attached is a letter of engagement from Ehlers & Associates to retain them as our Dissemination <br />Agent for Securities & Exchange Commission (SEC) Continuing Disclosure Requirements for <br />our outstanding bond issues. The SEC has imposed additional reporting requirements on bond <br />issuers that we need to comply with. Using Ehlers in this capacity makes the most sense given <br />our relationship with them. The cost for this service is outlined in Exhibit A of the letter. This <br />cost would be allocated to each of our outstanding bond issues on a per issue basis. <br />Staff recommends we be authorized to execute the letter of engagement with Ehlers on behalf of <br />the City. <br />