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<br />. <br /> <br />EHLERS <br /> <br />&A S S 0 C I ATE SIN C <br /> <br />From: <br />Subject: <br />Date: <br /> <br />John Meyers ,L" <br />Jerry Shannon j <br />Sale Results Recommendations <br /> <br /> <br />o <br />:E <br />w <br />:E <br /> <br />To: <br /> <br />August 9, 2006 <br /> <br />The City received 5 bids on the sale of the $2,700,000 GO Improvement Bonds, Series <br />2006A. The following is a summary of pertinent information for the City Council. <br /> <br />The City received a confirmation of its A2 rating from Moody's <br /> <br />Initial forecast ofNIC was 4.87% <br /> <br />Best bid submitted by North American Capital Markets at 4.1995% <br /> <br />Other bids ranged from 4.23 to 4.34 <br /> <br />Theses bids are in line with other comparable sales in Minnesota <br /> <br />City of Marshall $6.7 million <br />City of Proctor $1.135 million <br />City of Sauk Rapids $905,000 <br /> <br />4.24% <br />4.34 <br />4.23% <br /> <br />Recommend Award to NACM <br /> <br />3060 Centre Pointe Drive <br />Roseville, MN 55113 <br /> <br />(651) 697-8554 Fax: (651) 697-8555 <br />jshannon@ehlers-inc.com <br />www.ehlers-inc.com <br />