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85 E. SEVENTH PLACE, SUITE 100 <br />SAINT PAUL, MN 55101-2143 <br />612-223-3000 FAX: 612-223-3002 <br />August 18, 1995 <br />Mayor Vernon Reinert <br />Mr. Randall Schumacher. Administrator <br />Lino Lakes City Hall <br />1189 Main Street <br />Lino Lakes, MN 55014-2123 <br />Re: Moody's Upgrade to Baal <br />Dear Honorable Reinert and Mr. Schumacher: <br />Subsequent to the City's scheded payments and <br />upon conpletion of your 1995 audit, we requested <br />We agian reiterated our opinion that short-term <br />efficient financing tool of the City reuslting in lower <br />With continued prodding and numerous phone <br />analysis went to the rating committee this week. <br />the City's debt to Baal from Baa. They have <br />Authority debt to Baal . <br />We wish to extned our congratulations to the City <br />lower interest rates on future financings of the <br />outstanding bonds of the City. <br />SPRINGSTED <br />Public Finance Advisors <br />f <br />prepayment of debt on February, 1995 and <br />Moody to review the credit rating of the City. <br />borrowing has been a very effective and <br />interest rates. <br />conversations throughout the summer the <br />The committee has subsequently upgraded <br />also upgraded the Economic Development <br />and staff. This upgrade should translate to <br />City. It should also increase the value of <br />Again, congratuations on the upgrade. A copy of the i ating recap is enclosed. <br />Sincerely, <br />Gerard B. Shannon <br />Vice President <br />jmc <br />Enclosure <br />SAINT PAUL, MN MINNEAPOLIS, MN BROOKFIELD, W1 OVERLAND PARK, KS WASHINGTON, DC - IOWA CITY, IA <br />