2006-06-14 CC Packet - Laserfiche WebLink

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Propolllllor Fbulncltll Atl11isory Se1Vlce to the CItY'o/Ce"temlle, MN Mq31,2006 Page 2 · Omclal Statement The City expects to assemble all relevant statistical information for publication in the Official Statement. Ehlers will review and comment on the Preliminary Official Statement prepared by the City. The City will prepare, print, and distribute the Official Statement and Proposal Forms to prospective bidders. Ehlers will assist in providing a list of prospective bidders. As an alternative, Ehlers will post the Official Statement (in pdf format) on our web site and distribute the Official Statement to our wide range of contacts for a fee of $500. . Rating The City will prepare the necessary data for presentation to the rating agencies. Ehlers will assist the City in the conference call to the rating agencies. . Bond Insurance Bids Upon receipt of a rating, for a fee of $750 Ehlers will facilitate the submission of information to insurance companies and to contact insurance companies before the sale. . Pre-Bidding Process The City will contact underwriters most likely to serve as syndicate managers to ensure that bidding interest is established and ask if any questions have arisen on the day of the sale. Ehlers will refer all questions from underwriters to the City for responses. In the event the City has posted its Official Statement on our web site, Ehlers will respond to routine questions from underwriters. · Receipt of Bid Proposals, Bid Tabulation, and Confirmation of Reoffering Yields and Bond Size The receipt of bid proposals and the computation of the accuracy of each is a critical component of any bond sale. There must be a central place for the receipt of bid proposals and a specific deadline for the submission of bid proposals. When bid proposals are submitted by telephone, fax or through the internet, underwriters generally wait until the "last minute" to submit their bid proposals. Adequate staffmust be available to handle the receipt of the bid proposals, check for their accuracy, and be prepared to respond.to underwriter inquiries as to the result within seconds after the deadline for bid submissions. The City has proposed to coordinate the sale. For a fee of $2,500, Ehlers will receive bid proposals, analyze such proposals for accuracy and conformance with the terms and conditions and inform the underwriters of the results immediately after bid closing time. Ehlers will provide the bond attorney with appropriate reoffering yields, resize the issue if a premium bid is received, and maintain gross spread with the underwriter. Ehlers will also for this fee provide a bid tabulation and provide recommendations as to the acceptability of bid proposals to the Council. fl;