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OFFICIAL STATEMENT $1,015,000* CITY OF LINO LAKES, MINNESOTA GENERAL OBLIGATION IMPROVEMENT AND UTILITY REVENUE REFUNDING BONDS, SERIES 2010A (BOOK ENTRY ONLY) INTRODUCTORY STATEMENT This Official Statement contains certain information relating to the City of Lino Lakes, Minnesota (the "City" or the "Issuer") and its issuance of $1,015,000* General Obligation Improvement and Utility Revenue Refunding Bonds, Series 2010A (the "Bonds," the "Obligations" or the "Issue "). The Bonds are general obligations of the City for which the City pledges its full faith and credit and power to levy direct general ad valorem taxes. Additional sources of security for the Bonds are discussed herein. Inquiries may be directed to Mr. Alan Rolek, Finance Director, City of Lino Lakes, 600 Town Parkway, Lino Lakes, Minnesota 55014, by telephoning (952) 982 -2400. Inquiries may also be made to Springsted Incorporated, 380 Jackson Street, Suite 300, St. Paul, Minnesota 55101 -2887, or by telephoning (651) 223 -3000. If information of a specific legal nature is desired, requests may be directed to Mr. Stephen Bubul at Kennedy & Graven, Chartered, Bond Counsel, 470 U.S. Bank Plaza, Minneapolis, Minnesota 55402, or by telephoning (612) 337- 9300. CONTINUING DISCLOSURE In order to assist the Underwriters in complying with SEC Rule 15c2 -12 promulgated by the Securities and Exchange Commission, pursuant to the Securities Exchange Act of 1934, as the same may be amended from time to time, and official interpretations thereof (the "Rule "), pursuant to the Award Resolution, the City has entered into an undertaking (the "Undertaking ") for the benefit of holders including beneficial owners of the Bonds to provide certain financial information and operating data relating to the City to certain information and operating data relating to the City to the Electronic Municipal Market Access system ( "EMMA ") annually, and to provide notices of the occurrence of certain events enumerated in the Rule to EMMA or the Municipal Securities Rulemaking Board ( "MSRB "). The specific nature of the Undertaking, as well as the information to be contained in the annual report or the notices of material events is set forth in the Continuing Disclosure Certificate to be executed and delivered by the City at the time the Bonds are delivered in substantially the form attached hereto as Appendix II. The City has never failed to comply in all material respects with any previous undertakings under the Rule to provide annual reports or notices of material events. A failure by the City to comply with the Undertaking will not constitute an event of default on the Bonds (although The City reserves the right, after proposals are opened and prior to award, to increase or reduce the principal amount of the Bonds or the maturity amounts offered for sale. Any such increase or reduction will be made in multiples of $5,000 in any of the maturities. In the event the principal amount of the Bonds is increased or reduced, any premium offered or any discount taken by the successful bidder will be increased or reduced by a percentage equal to the percentage by which the principal amount of the Bonds is increased or reduced. -1-