Laserfiche WebLink
<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />The City Council <br />Centerville, MN <br />July 20, 2000 <br />Page 4 <br /> <br />We believe that, unless the bond sale is very small in size or if the structure of the issue is very <br />complex (not likely with most city issues), a competitive sale should be held. For a small size <br />bond sale, we suggest making every effort to sell it locally to a bank in the area. Most <br />underwriter/advisors will suggest purchasing an issue to be negotiated themselves. <br /> <br />Ehlers & Associates, Inc. Inclusive Fee <br /> <br />I <br />I <br />I <br />Ii <br />I <br />I <br />I <br /> <br />For the sale and issuance of approximately $750,000 general obligation bonds which we <br />understand the Council is presently considering, we propose a financial advisory fee of $6,000. <br />This includes all meetings with staff and council, printing and distribution of the official <br />statement for the competitive sale of bonds, advertising, conducting the competitive sale, <br />supervision of all necessary documentation, preparation of a permanent bond record summary, <br />and all travel and overhead expense. Ehlers will have no additional billings related to the bond <br />Issue. <br /> <br />The City can also expect to pay the costs ofa legal opinion from the City's bond attorney, the <br />cost of a paying agent, and perhaps a fee to the County Auditor for furnishing information <br />needed in the Official Statement. <br /> <br />In Summary <br /> <br />We believe Ehlers & Associates, Inc. to be your best choice as financial advisor for the sale of <br />the City's $750,000 general obligation bonds. Our experience with bond sales in general, and <br />specifically for the City of Centerville, gives us and the City access to all the information and <br />expertise necessary to hold a very successful sale and provide the financing. <br /> <br />We have valued our relationship with the City over the last 13 years and are hopeful it can <br />continue into the future. We believe that, together, we have accomplished good things. <br /> <br />I look forward to discussing our services in more detail at the July 26 council meeting. <br /> <br />I <br />I <br />I <br />I <br /> <br />- <br />Sincerely, /.1 / <br />" /. , ! .? <br /> <br />Lc ~j/J/flL/ {J~ <br /> <br />Carolyn Drude <br />Executive Vice PresidentlDirector <br />