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th <br />150 South 5 Street <br />Suite 3300 <br /> <br />Minneapolis, MN 55402 <br /> <br />(800) 851-2920 <br />(612) 851-5906 <br />Fax (612) 851-5917 <br />DATE: January 9, 2021 <br /> <br />TO: Honorable D. Love, Mayor & Councilmembers <br /> Mr. Mark Statz, Administrator <br /> Mr. Bruce DeJong, Finance Director <br /> City of Centerville <br /> <br />FROM: George Eilertson, Managing Director <br /> Northland Securities <br /> <br />th <br />RE: January 13 City Council Meeting Item <br />1. Review of Possible Refunding Bond Issue <br /> <br />th <br />I will plan to attend (on-line) your January 13 City Council meeting to review the possible <br />refunding of the following bond issue: <br />1. $2,330,000 General Obligation Improvement Bonds, Series 2013A <br /> <br />As part of our analysis we worked with the City Administrator and Finance Director to review the <br />debt (Series 2016A which originally funded the <br />2009A street and utility improvement project). For this refunding analysis we adjusted the <br />structure of the potential new refunding bond (Series 2013A) to allow for a steady reduction in the <br />debt service tax levy of approximately $20,000 per year between 2021 and 2028 (the red line in the <br />graph below). The final levy collection year on the 2013 Bonds is 2028. <br /> <br /> <br /> <br /> <br /> <br /> <br />