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<br />____________________________
<br />* Preliminary; subject to change.
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<br />OFFICIAL STATEMENT
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<br /> $1,815,000* CITY OF LINO LAKES, MINNESOTA GENERAL OBLIGATION STREET RECONSTRUCTION BONDS, SERIES 2021A
<br /> (BOOK ENTRY ONLY)
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<br />
<br /> INTRODUCTORY STATEMENT
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<br /> General
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<br />This Official Statement contains certain information relating to the City of Lino Lakes, Minnesota
<br />(the “City”) and its issuance of $1,815,000* General Obligation Street Reconstruction Bonds, Series 2021A
<br />(the “Bonds”). The Bonds are general obligations of the City for which it pledges its full faith and credit
<br />and power to levy direct general ad valorem taxes.
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<br />Inquiries may be directed to Ms. Hannah Lynch, Finance Director, City of Lino Lakes, 600 Town Center
<br />Parkway, Lino Lakes, Minnesota 55014, by telephoning (651) 982-2405, or by emailing
<br />HLynch@linolakes.us. Inquiries may also be made to Baker Tilly Municipal Advisors, LLC, 380 Jackson
<br />Street, Suite 300, Saint Paul, Minnesota 55101-2887, by telephoning (651) 223-3000, or by e-mailing
<br />bondservice@bakertilly.com.
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<br /> Potential Impacts Resulting from Coronavirus (COVID-19)
<br />On March 11, 2020, the World Health Organization proclaimed the novel strain of Coronavirus
<br />(COVID-19) to be a pandemic. In an effort to lessen the risk of transmission of COVID-19, the United
<br />States government, state governments, local governments and private industries have taken measures to
<br />limit social interactions in an effort to limit the spread of COVID-19, affecting business activities and
<br />impacting global, state and local commerce and financial markets. The emergence of COVID-19 and the
<br />spread thereof is an emerging and evolving issue. As the federal, state, and local governments, including
<br />the City, continue efforts to contain and limit the spread of COVID-19, future tax and other revenue
<br />collections may deviate from historical or anticipated collections and may have an adverse impact on the
<br />financial position and operations of the City and its ability to fund debt obligations, including the Bonds,
<br />in accordance with their terms. The City is not able to predict and makes no representations as to the
<br />economic impact of the COVID-19 pandemic on the City or its financial position.
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<br />As of the date of this Official Statement, the City has received CARES Act funding from the State of
<br />Minnesota in the amount of $1,608,289 which has been allocated as follows: $86,231 for budgeted
<br />personnel and services; $53,522 for telework capabilities; $1,356,659 for public health; $33,666 for
<br />personal protective equipment (PPE); $48,471 for payroll for public health and safety employees; and
<br />$29,740 for other expenses.
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<br /> CONTINUING DISCLOSURE
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<br />In order to assist the Underwriter in complying with SEC Rule 15c2-12 promulgated by the Securities and
<br />Exchange Commission, pursuant to the Securities Exchange Act of 1934, as the same may be amended
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