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Presale Report City of St. Anthony, Minnesota August 15, 2024 Page 1 Proposed Issue: $2,000,000 General Obligation Improvement Bonds, Series 2024A Purposes: The proposed issue includes financing the 2024 road reconstruction projects in the City The Bonds are being issued for a 10-year period. Debt service will be paid from ad valorem property taxes and special assessments. The City intends to levy a total of $701,900 in special assessments to benefitting property owners, of which approximately $210,570 (30%) is anticipated to be collected in pre-paid assessment. The Bonds have been reduced by this amount accordingly. The remaining $491,330 of special assessments will be collected in years 2025 to 2034 at a rate of 2% over the True Interest Costs of the Bonds. Annual assessments will be paid on an equal principal basis. Authority: The Bonds are being issued pursuant to Minnesota Statutes, Chapter(s):  429 & 475 Because the City is assessing at least 20% of the project costs, the Bonds can be a general obligation without a referendum and will not count against the City’s debt limit. The Bonds will be general obligations of the City for which its full faith, credit and taxing powers are pledged. Term/Call Feature: The Bonds are being issued for a term of 11 years. Principal on the Bonds will be due on February 1 in the years 2027 through 2035. Interest will be due every six months beginning August 1, 2025. The Bonds will be subject to prepayment at the discretion of the City on February 1, 2033 or any date thereafter. Bank Qualification: Because the City is expecting to issue no more than $10,000,000 in tax exempt debt during the calendar year, the City will be able to designate the Bonds as “bank qualified” obligations. Bank qualified status broadens the market for the Bonds, which can result in lower interest rates. EXECUTIVE SUMMARY OF PROPOSED DEBT 24