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I I I . I I I I I I I [I I I I I I I I I The City Council Centerville, MN July 20 , 2000 Page 2 When the City's bond issues have been quite small, we've worked to save issuance costs (and underwriter's discount) by negotiating the sale with a local bank, thus keeping the transaction local. This has saved money and has created good working relationships locally. We successfully arranged (after competitive bidding) the lease-purchase financing which provided funds to build the new City HalllFire Hall project in 1992. We worked with the City to refinance bond issues to save interest costs in 1996 and 1998. In 1997 Ehlers & Associates, Inc., working with the City and the Anoka County HRA successfully sold bonds to finance the senior housing which the City had been pursuing for a long time. Favorable interest rates (ranging from 4.25% to 5.75% over 30 years) allowed this project to be more affordable for the City's senior citizens. Tax Increment Financing has become extremely complex and demanding. We have assisted with responses to the State Auditor on TIF questions the City has received and are currently working on TIF compliance as well as the annual TIF reporting and other TIF related work. Ehlers & Associates, Inc.; Experience For the 36-month period from July 1, 1996 through June 30, 1999, Ehlers & Associates served as the financial advisor for the sale of 815 bond issues (mostly competitive sales) for local governments in this region. Since 1990, we have provided financial advisory services to 187 Minnesota cities. Appendix A illustrates the variety of services we provide to Minnesota cities, the mark of a full- service financial advisor. Many of these activities are inter-related which enables you to do some "one-stop" shopping. -~