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City of Mounds View, Minnesota <br /> February 25, 1991 <br /> Page 2 <br /> Appendix IV is the debt service for Option 2 of a smaller bond issue ($2,225,000) spread over • <br /> the same term as with Option 1. The annual surplus is about 40%, however this bond issue <br /> does not include all of the capital needs identified with Option 1, which needs the City may <br /> wish to undertake at a future date. Appendix V amortizes the Option 2 debt service over a <br /> • <br /> shorter term, maintaining an annual surplus of approximately 10%. <br /> There are many ways to look at the financing of utility project costs and many considerations <br /> that must be taken into account before a final debt service schedule is developed. We would <br /> be happy to discuss with you these options or any other options you may wish to have <br /> considered. <br /> Respectfully submitted, <br /> Ronald W. Langnes <br /> Senior Vice President <br /> rls <br /> Enclosures <br /> • <br /> • <br />