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STANDARD & POOR'S RATINGS SERVICES 130 East Randolph Street Suite 2900 McGRAW HILL FINANCIAL Chicago,IL 60601 tel 312-233-7000 reference no 1371233 December 2, 2014 City of Centerville 1880 Main Street Centerville, MN 55038 Attention: Mr. Mike Ericson, City Administrator Re:US$1,390,000 City of Centerville, Minnesota, General Obligation Improvement Refunding Bonds, Series 2015A, dated:January 15, 2015, due: February 01, 2025 Dear Mr. Ericson: Pursuant to your request for a Standard & Poor's Ratings Services ("Ratings Services") rating on the above-referenced obligations, Ratings Services has assigned a rating of"AA". Standard & Poor's views the outlook for this rating as stable. A copy of the rationale supporting the rating is enclosed. This letter constitutes Ratings Services' permission for you to disseminate the above-assigned ratings to interested parties in accordance with applicable laws and regulations. However, permission for such dissemination (other than to professional advisors bound by appropriate confidentiality arrangements) will become effective only after we have released the rating on standardandpoors.com. Any dissemination on any Website by you or your agents shall include the full analysis for the rating, including any updates,where applicable. To maintain the rating, Standard & Poor's must receive all relevant financial and other information, including notice of material changes to financial and other information provided to us and in relevant documents, as soon as such information is available. Relevant financial and other information includes, but is not limited to, information about direct bank loans and debt and debt- like instruments issued to, or entered into with, financial institutions, insurance companies and/or other entities, whether or not disclosure of such information would be required under S.E.C. Rule 15c2-12. You understand that Ratings Services relies on you and your agents and advisors for the accuracy, timeliness and completeness of the information submitted in connection with the rating and the continued flow of material information as part of the surveillance process. Please send all information via electronic delivery to: pubfin statelocalgovt(alstandardandpoors.com. If SEC rule 1 7g-5 is applicable, you may post such information on the appropriate website. For any information not available in electronic format or posted on the applicable website, Please send hard copies to: Standard & Poor's Ratings Services Public Finance Department 55 Water Street PF Ratings U.S. (7/18/14) 92