Agenda Packets - 1983/10/24 - Laserfiche WebLink

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SPRINGSTED INCORPORATED PUBLIC FINANCE �.� ADVISORS 17 0clober1983 Mr. Donald F. Pouley, Administrator Mr. Donald Bruges, hinwice Director City Hall 2401 Highway 10 Mounds View, Minnesula 55112 The opportunity to present a study for the defeUsaace of your Improvement issues is much appreciated. Mr. Lungness and our computer personnel hove put together a very thorough and comprehensive study. It is very difficult to ascertain what our fee will be with the final program(s). The initialion of the study has nlready involved a substantial amount of time. We have looked of a number of government securities that are appropriate to buy at this time. However, we are not certain of your exact cash flow lime frame. Monies will be available at various tirnes and we are not positive what tfie precise availability and price of these securities will be. if they are in short supply, it may indicate too high o price especially if the volume purchased is relatively large. Each time a security is purchased it will require another computer run. We want to buy fire most favorable security at the time at the very best price so a number of substitutions may take place. The securities may also have to be purchased from different sources and then tied together. Suffice it to soy that the end product will suit your needs exactly. Based on an hourly basis, our maximum fee will be $5,000. If our work involves less time than we now estimate, our fee, will of course, be less. We would very much like to work with you on this defeasance program as well as your regular bond work. We do have the experience with defeasing bond programs and the enclosed provides some insight into that capability. We guarantee the very best final program. Cordially, David L. Goblirsch Senior vice President DLG:dmo Enclosure 800 Osborn Building, Saint Paul, Minnesota 55102 (612) 222-4241 250 North Sunnyslope Road, Brookfield, Wisconsin 53005 (414) 782.8222 ;'i