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<br /> <br /> <br /> <br />City of Lino Lakes, Minnesota <br />Pre-Sale Summary for Issuance of Bonds <br /> <br />$1,815,000 General Obligation Street Reconstruction Bonds, Series 2021A <br />The Council has under consideration the issuance of bonds (the “Bonds”) to finance various street reconstruction <br />projects within the City. This document provides information relative to the proposed issuance. <br />KEY EVENTS: The following summary schedule includes the timing of some of the key events that will <br />occur relative to the bond issuance: <br /> <br />May 10, 2021 Council sets sale date and terms <br />Week of May 31, 2021 Rating conference is conducted <br />June 14, 2021, 10:00 a.m. Competitive proposals are received <br />June 14, 2021 6:00 p.m. Council considers award of the Bonds <br />July 15, 2021 Proceeds are received <br /> <br />RATING: An application will be made to S&P Global Ratings (S&P) for a rating on the Bonds. The <br />City’s general obligation debt is currently rated “AA+” by S&P. <br />THE MARKET: Performance of the tax-exempt market is often measured by the Bond Buyer’s Index (“BBI”) <br />which measures the yield of high grade municipal bonds in the 20th year for general <br />obligation bonds rated Aa2 by Moody’s or AA by S&P (the BBI 20-Bond GO Index) and the <br />30th year for revenue bonds rated A1 by Moody’s or A+ by S&P (the BBI 25-Bond Revenue <br />Index). The following chart illustrates these two indices over the past five years: <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> Study No.: 0502.141_1394513 Date: May 4, 2021