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<br />BOND BID SALE RESULTS <br /> <br />DATE: AUGUST 9, 2006 <br />TO: MAYOR, CITY COUNCIL & STAFF <br />FROM: JOHN W. MEYER, FINANCE DIRECTOR <br />SUBJECT: $2,700,000 GO IMPROVEMENT BONDS OF 2006A - SALE <br /> <br />The proceeds from this bond are to support the construction of improvements for <br />Hunters Crossing 3 and Backage Business Park projects. The city received 5 bids <br />for this bond sale. The best bid for the city is the bid received that has the <br />lowest Net Effective Interest Rate. North American Capital Markets of Minneapolis, <br />Minnesota submitted a bid with a Net Effective Interest Rate of 4.19950%. To complete the sale, <br />the city will need to pass the attached resolution prepared by bond counsel awarding the bid <br />to North American Capital Markets. <br /> <br />Below is a bid tabulation for the sale. <br /> <br />CITY OF CENTERVILLE <br />BID TABULATION <br />$2,700,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2006A <br />AUGUST 9, 2006 <br /> <br /> Good <br /> Total Interest Net Effective Faith <br />Bidder Bid Cost Interest Rate Deposit <br />United Bankers' Bank $ 2,677,050.00 $ 1,120,216.25 4.236020% Sure Bid <br />Cronin & Co. Inc. $ 2,665,246.45 $ 1,148,866.05 4.334300% Sure Bid <br />North American Capital Markets $ 2,675,700.00 $1,110,558.75 4.199500% Sure Bid <br />Piper Jaffray Inc. $ 2,666 772.95 $ 1,136,339.55 4.296992% Sure Bid <br />Wells Fargo Brokerage Services, LLC $ 2,688,390.00 $ 1,138,020.63 4.303300% Sure Bid <br />