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AGENDA ITEM 3C <br />STAFF ORIGINATOR: Mary M. Vaske <br />DATE: June 2, 1998 <br />TOPIC: Agreement with Springsted, Inc. for Arbitrage Monitoring <br />With the issuance of the three bonds, the City has exceeded the requirements for <br />arbitrage reporting. The limit is $5,000,000. In order for the City to be able to issue <br />future municipal debt, the City is now committed to provide ongoing arbitrage reporting. <br />The City entered into an agreement with Springsted in 1996 for arbitrage monitoring. <br />This motion is for approval of Addendum B. The fee to Springsted is $400 annually or <br />$850 for monitoring at the close of every fifth bond year <br />Because of the complex rules and regulations, many cities have contracted with <br />Springsted for this service. <br />fs <br />1. Approve and the sign the attached addendums to the 1996 agreements for the <br />G.O. Improvement Bonds 1998A and 1998B and the Lease Revenue Bond 1998A. <br />2. Send back,o staff for further review. <br />Option 1. <br />