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• o <br /> TABLE OF CONTENTS <br /> TERMSOF PROPOSAL ......................................................... ............................... I <br /> RATING ............................. .... .......... .......... ....... ..... ......... I ... I__ ............. 5 <br /> TAXEXEMPTION ............ ....... ................ ............ ... .... ... I ............. I ..... ......... .. 6 <br /> QUALIFIED TAX- EXEMPT OBLIGATIONS .................................... ............................... 6 <br /> CONTINUINGDISCLOSURE ........... .... .... ....... ......... ..... ......................... I............. 7 <br /> RISKFACTORS ........................................................... ............................. .. 7 <br /> VALUATIONS .......... .. .. ..... ......................................... ............................... 8 <br /> .... <br /> MINNESOTA VALUATIONS; PROPERTY TAXES .............................. ............................... 8 <br /> CURRENT PROPERTY VALUATIONS .......................................... ............................. <br /> 1997198 NET TAX CAPACITY BY CLASSIFICATION ..................... ............................... ..... 10 <br /> TRENDOF VALUATIONS ................................................. ......................... . ... .. <br /> LARGERTAXPAYERS .................................................... ............................... 10 <br /> DEBT ....................................................................... ............................... 11 <br /> DIRECT DEBT ................ . .... ..... .......................... I .................... I__ ......... I. 11 <br /> . <br /> LEASEPURCHASE .............................................. ............................... I........ 11 <br /> DEBTLIMIT ............................................................. ............................... 11 <br /> SCHEDULE OF BONDED INDEBTEDNESS ................................... ............................... 12 <br /> OVERLAPPINGDEBT ................................... ............................... I.......... ...... . 15 <br /> FUTUREFINANCING ................................................ ............................... _ - 15 <br /> DEBTRATIOS ............................................. ............................... I ..... ...... -' 16 <br /> LEVYLIMITS ............................................................ ............................... <br /> TAX LEVIES AND COLLECTIONS .................................... ............................... ......... 17 <br /> TAXCOLLECTIONS ...................................................... ............................... 17 <br /> TAXCAPACITY RATES .......................... ............................... I ............ ..... ....... 17 <br /> THEISSUER ................................................................. ............................... 18 <br /> CITY GOVERNMENT ............................ ............................... _ ...- ................... 18 <br /> EMPLOYEES; PENSIONS ................................................. ............................... 18 <br /> ENTERPRISEFUNDS ................................... ............................... I................. 19 <br /> INSURANCE...................................................... ............................... I...... 20 <br /> LITIGATION................................... ............................... I .... ..................... 20 <br /> DEBTPAYMENT HISTORY ................................................ ............................... 20 <br /> GENERALINFORMATION ...... ............ ................ ........................................ I......... 21 <br /> LOCATION.............................................................. ............................... 21 <br /> AREAEMPLOYMENT ................................ ............................... ..... ................ 21 <br /> EDUCATION............... _ ............................ _ .............. ............................... 21 <br /> U .S. CENSUS DATA ....................................................... ............................... 22 <br /> EMPLOYMENT9INFMPLOYMENT DATA .............. .. ............ 22 <br /> .... ............................... . <br /> BUILDINGPERMITS ...................................................... ............................... 23 <br /> BONDYEARS .... .................. .... .................. ............................. .............. I...... 24 <br /> EXCERPTS FROM FINANCIAL STATEMENTS ................................... ............................... A -1 <br /> FORMOF LEGAL OPINION ................................................... ............................... B -I <br /> BOOK -ENTRY -ONLY SYSTEM ................................................ ............................... C -1 <br /> iii <br />