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AWARD: <br />SALE: <br />Springsted <br />Springsted Incorporated <br />380 Jackson Street, Suite 300 <br />Saint. Paul, MN 55101-2887 <br />Tel: 651-223-3000 <br />Fax: 651-223-3002 <br />Email: advisors@springsted.com <br />www.springsted.com <br />$1,980,000(a) <br />CITY OF LINO LAKES, MINNESOTA <br />TAXABLE GENERAL OBLIGATION IMPROVEMENT REFUNDING BONDS, SERIES 2016B <br />(BOOK ENTRY ONLY) <br />NORTHLAND SECURITIES, INC. <br />October 24, 2016 <br />S&P Rating: AA <br />Bidder <br />Interest <br />Rates <br />Price <br />Net Interest <br />Cost <br />True Interest <br />Rate <br />"IORTHLAND SECURITIES, INC. <br />UNITED BANKERS' BANK <br />FIFTH THIRD SECURITIES, INC. <br />(a) <br />(b) <br />0.875% 2018 <br />1.10% 2019 <br />1.30% 2020 <br />1.50% 2021 <br />0.95% 2018 <br />1.15% 2019 <br />1.35% 2020 <br />1.55% 2021 <br />$1,973,688.50(b) $75,875.72(b) <br />$1,975,545.00 $76,848.89 <br />4.00% 2018-2021 $2,109,943.10 $85,016.90 <br />Subsequent to bid opening, the issue size decreased from $1,980,000 to $1,975,000. <br />1.4130%(b) <br />1.4303% <br />1.5129% <br />Subsequent to bid opening, the price, net interest cost, and true interest rate have changed to $1,968,704.44, $75, 652.50, and <br />1.4131%, respectively. <br />Public Sector Advisors <br />