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S P R I N GSTED 120 South Sixth Street Suite 2507 PUBLIC FINANCE ADVISORS Minneapolis, MN 55402-1800 (612) 333-9177 Fax: (612) 349-5230 • Home Office 85 East Seventh Place 16655 West Bluemound Road Suite 100 Suite 290 Saint Paul, MN 55101-2143 Brookfield. WI 53005-5935 (612) 223-3000 (414) 782.8222 Fax: (612) 223:3002 fax: (414) 782-2904 6800 College Boulevard Suite 600 Overland Park, KS 66211-1533 (913) 345-8062 Fax: (913) 345.1770 1800 K Street NW Suite 831 Washington, DC 20006.2200 November 16, 1993 (202) 466.3344 Fax: (202) 223-1362 Mr. Thomas Burt, City Manager 3301 Silver Lake Road St. Anthony, MN 55418-1699 Re: Proposal Addendum for Financial Advisory Services Debt Management Study Dear Mr. Burt: We are pleased to submit this proposal to undertake a debt management study for the City of St.Anthony. We understand the City's principal objective is to determine its present debt position, and to identify its options regarding debt restructuring in order to actively manage the City's property tax levy for debt service in concert with the St. Anthony School District. .The City wants to be in a position whereby new debt financings complement outstanding bonds in yielding continuity in the City's debt service property tax levy. The City may also wish to consider its present credit rating position and its available capacity under the statutory debt limit. A number of related policy questions could involving future capital financing requirements. A multi-year CIP causes an annual examination of the present debt position and future capital needs to determine the appropriate sizing and timing of borrowings to comply with overall .financial goals. The.attached outline describesi the basic debt service areas to be reviewed in the study. • Profile of current debt position; • Potential for advance refundings of debt, - Potential for defeasance of debt; • Integral debt management and future capital needs; • Development of financing plan including a council policy that establishes debt parameters Our compensation for the study..shall be on an hourly basis plus out-of-pocket expenses. In no event shall the hourly fee exceed $4,000. These costs do.not reflect the cost necessary to do a similar study in the school district. Should the District wish to be included, our maximum fee would be$6,000 for both studies.