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<br />. <br /> ,- <br />I. CITY OF ARDEN HILLS <br /> 1450 WEST HIGHWAY 96 <br /> ARDEN HILLS, MN 55112-5794 <br />. <br />. September 18, 1995 <br />. Piper Jamay <br /> Attn: Gary Jeub, Investment Executive <br /> 444 Cedar Street, Suite 2200 <br />. Saint Paul, MN 55101-2108 <br /> RE: Reauest to Close Account (No. 150-116775-330) <br />. <br /> Dear Gary: <br />. By means of this letter, the City of Arden Hills wishes to sever its account relationship <br />. with Piper Jamay as soon as possible. As I communicated to you earlier, we are quite <br /> disappointed with the formula Piper is using in the P JIGX Settlement The use of this <br /> formula has produced a $0.00 loss on the enclosed "Settlement Loss Statement". However, <br />.e our calculations indicate a loss more on the order of$74,347.00. <br /> We specifically would like to transfer the $943,000 (face) in priced fixed income securities <br />. to another brokerage and to close our Piper Money Market Fund and transfer the fund <br /> balance to our 4M Money Market Account I will be following up to determine what we <br /> administratively need to do to accomplish this objective. <br />. _. <br /> I have personally enjoyed working with you from a client perspective and am sorry to end <br /> our customer relationship. <br />. Sincerely, ~~ (I, ~ , <br />. <br /> Terrance R. Post <br /> City Treasurer <br />. cc: Brian Fritsinger, C1ty Administrator <br /> Addison Piper, CEO Piper Jaffray Companies, Inc. <br />. Dennis Probst, Mayor <br /> enclosure <br />. <br />.e <br />. PHONE: (612] 633-5676 . FAX (612] 633-7839 <br />