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<br /> <br />LETTER OF TRANSMITTAL <br /> <br /> <br />January 28, 2013 <br /> <br /> <br /> <br />Mr. Al Rolek, Finance Director <br />Mr. Rick DeGardner, Public Services Director <br />City of Lino Lakes <br />600 Town Center Parkway <br />Lino Lakes, Minnesota 55014-1182 <br /> <br />Re: Summary of Water and Sewer Utility Rate Study Update <br /> <br />Dear Mr. Rolek and Mr. DeGardner: <br /> <br />Springsted Incorporated was hired to update the u tility rate study for the Water Fund and Sewer Fund of <br />the City of Lino Lakes. Each Fund was looked at individually. This Study includes a review of the past <br />performance of each fund, determines the adequacy of revenues in each of the Funds, and provides rate <br />recommendations which reflects recent cost experien ce as well as anticipated capital improvement costs <br />of each Fund. <br /> <br />We appreciate the opportunity to conduct the Water a nd Wastewater Utility Rate Study for the City of <br />Lino Lakes. <br /> <br />Respectfully submitted, <br /> <br />Nick Dragisich Patty Kettles <br />Nick Dragisich, Executive Vice President Patty Kettles, Vice President <br />Director, Management Consulting Services <br /> <br /> <br /> <br />sml <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 />www.springsted.com