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City of Lino Lakes <br />Assessment Bonds Options <br />September 29, 2008 <br />Recommendation <br />Due to the number of unknowns related to this project, and the risk of marketing financial products in this <br />economy that would otherwise help with cash flow, we recommend that, if possible, the City delay any <br />refinancing. Instead, the Council should consider an internal loan to cover cash flow for the February 2009 <br />payment. The cash flow needs and best strategy to meet debt service requirements should be re- <br />evaluated on an ongoing basis to determine which option is the most cost - effective at that time. <br />We are available to further discuss these options further at your convenience. <br />Terri Heaton <br />Senior Vice President <br />Public Sector Advisors <br />