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Springsted Incorporated <br />380 Jackson Street, Suite 300 <br />Saint Paul, MN 55101 -2887 <br />Springsted Tel: 651- 223 -3000 <br />Fax: 651 - 223 -3002 <br />www.springsted.com <br />LETTER OF TRANSMITTAL <br />October 1, 2007 <br />Al Rolek <br />City of Lino Lakes <br />600 Town Center Parkway <br />Lino Lakes, Minnesota 55014 -1182 <br />Re: Summary of Water and Wastewater Utility Rate Study <br />Dear Mr. Rolek: <br />Springsted Incorporated was hired to perform a utility 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 experience as well as anticipated capital improvement costs <br />of each Fund. Recommended water rates were determined in order to promote water conservation. <br />We appreciate the opportunity to conduct the Water and Wastewater Utility Rate Study for the City of <br />Lino Lakes. <br />Respectfully submitted, <br />Terri Heaton <br />Terri Heaton, Senior Vice President <br />Client Representative <br />maj <br />