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OFFICIAL STATEMENT DATED JUNE 12, 2007
<br />AS AMENDED JUNE 12, 2007
<br />Rating: Requested from Moody's
<br />NEW ISSUE Investors Service
<br />In the opinion of Kennedy & Graven, Chartered, Bond Counsel, under existing laws, regulations, rulings and decisions, assuming compliance with the
<br />covenants set forth in the Resolution, the interest on the Bonds is not includable in the gross income of the owners thereof for federal income tax
<br />purposes or in taxable net income of individuals, estates or trusts for Minnesota income tax purposes, and is not a preference item for purposes of the
<br />computation of the federal alternative minimum tax or the computation of Minnesota altemative minimum tax imposed on individuals, trusts and estates.
<br />Interest on the Bonds is includable in the calculation of certain federal and Minnesota taxes imposed on corporations. (For a description of related
<br />issues, see `Tax Exemption" herein.)
<br />$4,215,000
<br />City of Lino Lakes, Minnesota
<br />General Obligation Tax Increment Bonds, Series 2007A
<br />(Book Entry Only)
<br />Dated date: July 15, 2007 Interest Due: Each February 1 and August 1,
<br />commencing February 1, 2008
<br />The Bonds will mature February 1 as follows:
<br />2009 $165,000
<br />2010 $175,000
<br />2011 $215,000
<br />2012 $265,000
<br />2013 $285,000
<br />2014 $345,000
<br />2015 $360,000
<br />2016 $380,000
<br />2017 $400,000
<br />2018 $190,000
<br />2019 $200,000
<br />2020 $215,000
<br />2021 $230,000
<br />2022 $245,000
<br />2023 $265,000
<br />2024 $280,000
<br />Proposals for the Bonds may contain a maturity schedule providing for a combination of serial bonds and term bonds. All
<br />term bonds shall be subject to mandatory sinking fund redemption at a price of par plus accrued interest to the date of
<br />redemption and must conform to the maturity schedule set forth above.
<br />The City may elect on February 1, 2018, and on any date thereafter, to prepay the Bonds due on or after February 1,
<br />2019 at a price of par plus accrued interest.
<br />The Bonds will be general obligations of the City for which the City pledges its full faith and credit and power to levy direct
<br />general ad valorem taxes. In addition, the City will pledge tax increment revenues from the City's Tax Increment
<br />Financing District No. 1 -11 and a portion of their revenues from Tax Increment Financing District No. 1 -10. The proceeds
<br />will be used to finance various improvement projects related to the 35W and Lake Drive Improvement Project within the
<br />City.
<br />Proposals must be for not less than $4,170,743 plus accrued interest on the total principal amount of the Bonds.
<br />Proposals must be accompanied by a good faith deposit in the form of a certified or cashier's check or a Financial Surety
<br />Bond in the amount of $42,150, payable to the order of the City. Proposals shall specify rates in integral multiples of
<br />5/100 or 1/8 of 1 %. Rates must be in level or ascending order. The Bonds will be awarded on the basis of True Interest
<br />Cost (TIC).
<br />The City will designate the Bonds as "qualified tax - exempt obligations" pursuant to Section 265(b)(3) of the Internal
<br />Revenue Code of 1986, as amended. The Bonds will not be subject to the alternative minimum tax for individuals.
<br />The Bonds will be issued as fully registered Bonds without coupons and, when issued, will be registered in the name of
<br />Cede & Co., as nominee of The Depository Trust Company ( "DTC "). DTC will act as securities depository for the Bonds.
<br />Individual purchases may be made in book entry form only, in the principal amount of $5,000 and integral multiples
<br />thereof. Investors will not receive physical certificates representing their interest in the Bonds purchased. (See "Book
<br />Entry System" herein.) U.S. Bank National Association, St. Paul, Minnesota will serve as registrar (the "Registrar") for the
<br />Bonds. The Bonds will be available for delivery at DTC on or about July 23, 2007.
<br />PROPOSALS RECEIVED: June 25, 2007 (Monday) until 11:00 A.M., Central Time
<br />AWARD: June 25, 2007 (Monday) at 6:30 P.M., Central Time
<br />Springsted
<br />Further information may be obtained from SPRINGSTED Incorporated,
<br />Financial Advisor to the City, 380 Jackson Street, Suite 300, Saint Paul,
<br />Minnesota 55101 -2887 (651) 223 -3000
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