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8S E.SEVENTH PLACE,SUITE 100 <br /> SAINT PAUL,MN 55101-2143 <br /> 612-223-3000 FAX: 612-223-3002 <br /> SPRINGSTED <br /> Public Finance Advisors <br /> October 24, 1995 <br /> Mayor Clarence J. Ranallo <br /> Members, City Council <br /> Mr. Michael Mornson, City Manager <br /> Mr. Roger Larson, Finance Director <br /> City of St. Anthony <br /> St. Anthony City Hall <br /> 3301 Silver Lake Road <br /> St. Anthony, MN 55418 <br /> Re: Recommendations for the Issuance of $2,650,000 General Obligation Tax Increment <br /> Bonds, Series 1995B <br /> We respectfully request your consideration of our recommendations for the issuance of the <br /> above-mentioned bond issue in accordance with the "Terms of Proposal," attached. <br /> Financing Plan <br /> The Series 1995B Bonds are being issued pursuant to Minnesota Statutes, Chapters 469 and <br /> 475. The bond proceeds will be used to finance the construction of a City Hall Community <br /> Center Complex which will house the City hall, a gymnasium, recreational and educational <br /> facilities. The composition of the issue is as follows: <br /> Net Proceeds for Construction $2,563,000` <br /> Issuance Costs 47,250 <br /> Allowance for Underwriter's Discount 39,750 <br /> Total Bond Issue $2,650,000 <br /> Includes$220,000 for contingency. <br /> Structuring Analysis <br /> Appendix I, Columns 1 through 5, is the repayment schedule for this issue. The City will make <br /> interest payments each February 1 and August 1, commencing February 1, 1996. The City's <br /> first payment on the bonds will be a principal and interest payment due February 1, 1996 in the <br /> approximate amount of $151,026 as shown in Column 6. This payment will be made from tax <br /> increment revenues on hand. Column 7 shows the 5% overlevy is required in order to protect <br /> SAINT PAUL,MN MINNEAPOLIS,MN BROOKHELD,WI OVERLAND PARK,KS WASHINGTON,DC IOWA CITY,IA <br />