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City of Blaine, Minnesota <br /> August 13, 1997 <br /> • savings to the cities after the crossover date. Page 11 is the split of the three cities' share of <br /> debt service, based on the 1997 allocation. <br /> The bonds are expected to be sold at a net interest rate of approximately 5.00%, resulting in a <br /> savings of approximately $529,900, or a present value savings of approximately $169,150. <br /> These savings figures are net of all issuance costs and a City contribution of approximately <br /> $350,000 of existing debt service funds on hand. We will continue to monitor the bond market <br /> between now and the date of sale and keep the City apprised of any changes in interest rates. <br /> Respectfully submitted, <br /> ,4_,A-&6(r)/-a-k\_ tiomayeg(--- <br /> jme. <br /> SPRINGSTED Incorporated <br /> jmm <br /> I <br /> Page 4 <br />