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AGENDA ITEM 3D <br />STAFF ORIGINATOR: Mary M. Vaske <br />DATE: June 2, 1998 <br />TOPIC: Agreement with Springsted, Inc. for Continuing Disclosure <br />and Rebate Requirements <br />The Securities and Exchange Commission has created regulations for disclosure of <br />pertinent information relating to the issuance of municipal debt. Upon the sale of the <br />bonds in 1998, the City will be committing to actions throughout the life of the bonds. <br />The commitment is that the City will continue to provide ongoing disclosure regarding <br />the issues and that the City will comply with the arbitrage regulations. <br />The City signed the original agreement with Springsted in 1996 for continuing disclosure <br />services. This is for approval of Addendum A to the 1996 Agreement. <br />Because of the complex rules and regulations, many cities have contracted with <br />Springsted for this service. <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 to staff for further review. <br />Option 1. <br />