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<br />  <br /> <br />Presale Report <br />City of St. Anthony, Minnesota <br />June 10, 2025 <br />Page 4 <br /> <br />reasonable reserve requirements, 5) expenditure within an available period limitations, 6) <br />investments yield restrictions, 7) de minimis rules, or; 8) borrower limited requirements. <br />An Ehlers arbitrage expert will contact the City within 30 days after the sale date to review <br />the City’s specific responsibilities for the Bonds. The City is currently receiving arbitrage <br />services from Ehlers in relation to the Bonds. <br />Investment of Bond Proceeds: <br />Ehlers can assist the City in developing a strategy to invest your Bond proceeds until the <br />funds are needed to pay project costs. A member of our investment team will reach out to <br />staff to discuss further. <br />Risk Factors: <br />Special Assessments: We have assumed approximately $223,757 of prepaid special <br />assessments. If the City receives more pre-paid assessments, it may need to increase the levy <br />portion of the debt service to make up for lower interest earnings than the expected <br />assessment interest rate. <br />Other Service Providers: <br />This debt issuance will require the engagement of other public finance service providers. This <br />section identifies those other service providers, so Ehlers can coordinate their engagement <br />on your behalf. Where you have previously used a particular firm to provide a service, we have <br />assumed that you will continue that relationship. For services you have not previously <br />required, we have identified a service provider. Fees charged by these service providers will <br />be paid from proceeds of the obligation, unless you notify us that you wish to pay them from <br />other sources. Our pre-sale bond sizing includes a good faith estimate of these fees, but the <br />final fees may vary. If you have any questions pertaining to the identified service providers or <br />their role, or if you would like to use a different service provider for any of the listed services <br />please contact us. <br />Bond Counsel: Dorsey & Whitney LLP <br />Paying Agent: Bond Trust Services Corporation <br />Rating Agency: S&P Global Ratings (S&P) <br />Summary: <br />The decisions to be made by the City Council are as follows: <br /> Accept or modify the finance assumptions described in this report <br /> Adopt the resolution attached to this report. <br /> <br />