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Competitive Sale Results <br />PURPOSE: For the purposes of financing certain street reconstruction projects <br />and various utility system improvements within the City. The <br />RATING: S&P Global Ratings "AA+" / Stable <br />NUMBER OF BIDS: 11 <br />LOW BIDDER: Piper Sandler & Co., Minneapolis, Minnesota <br />COMPARISON FROM LOWEST TO HIGHEST BID: <br />(TIC as bid) <br />LOW BID:* 3.6809% <br />HIGH BID: 3.8993% <br />Summary of - -- <br />Principal Amount*: <br />$8,090,000 <br />Underwriter's Discount: <br />$62,189 <br />Reoffering Premium: <br />$520,460 <br />True Interest Cost: <br />3.6885% <br />Costs of Issuance: <br />$80,733 <br />Yield: <br />2.77%-3.90% <br />Total Net P&I <br />$11,443,402 <br />NOTES: <br />CLOSING DATE <br />CITY COUNCIL <br />ACTION: <br />Bond Trust Services Corporation, Minneapolis, Minnesota <br />will serve as Paying Agent on the Bonds. <br />The Bonds maturing February 1, 2036 and thereafter are <br />callable February 1, 2035 or any date thereafter. <br />* Subsequent to bid opening, the issue size was decreased <br />to $8,090,000 due to the reoffering premium received. <br />July 14, 2025 <br />Adopt a resolution awarding the sale of $8,090,000 General <br />Obligation Bonds, Series 2025A. <br />SUPPLEMENTARY ATTACHMENTS <br />• Bid Tabulation <br />• Sources and Uses of Funds <br />• Updated Debt Service Schedules <br />Sale Day Report for City of Lino Lakes, Minnesota <br />Page 60 of 142 <br />