10/23/2006 Council Packet - Laserfiche WebLink

Home Search

OFFICIAL STATEMENT CITY OF LINO LAKES, MINNESOTA $3,025,000* GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN REFUNDING BONDS, SERIES 2006E $1,745,000* GENERAL OBLIGATION WATER REVENUE REFUNDING BONDS, SERIES 2006F (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 $3,025,000* General Obligation Capital Improvement Plan Refunding Bonds, Series 2006E (the "Series 2006E Bonds ") and $1,745,000* General Obligation Water Revenue Refunding Bonds, Series 2006F (the "Series 2006F Bonds "), collectively referred to as the "Bonds," the "Obligations," or the "Issues." 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 security for the Bonds is discussed herein. Inquiries may be directed to Mr. Alan Rolek, Finance Director, City of Lino Lakes, 600 Town Center Parkway, Lino Lakes, Minnesota 55014 -1182, or by telephoning (651) 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. 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 Resolutions, 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 repositories annually, and to provide notices of the occurrence of certain events enumerated in the Rule to certain information repositories or the Municipal Securities Rulemaking Board and to any state information depository. 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 reserves the right, after proposals are opened and prior to award, to increase or reduce the principal amounts of the Bonds 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 amounts of the Bonds are 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 amounts of the Bonds are increased or reduced. -1-