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<br />THEEHLERS ADVISOR
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<br />leaders in Public Finance Since 1955
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<br />Y2K +1
<br />Public Finance
<br />Trends & Issues
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<br />Everywhere you turn, there is a reference to Y2K. The
<br />pendmg change to the next millennium is truly a
<br />momentous event and has demanded much attention in
<br />recent months. After the parties conclude, the lights stay
<br />on and the computers still work, we will come back to
<br />the on-going business of local government finance.
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<br />As Y2K fades to the background, the real future of public
<br />finance will come into focus. Here are some thoughts
<br />and observations about some trends and issues shaping
<br />public finance in 2000 and beyond.
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<br />e-disclosure
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<br />A fund~lInental change at the end of the 20th century is
<br />the growth of commerce on the Internet. Public finance
<br />is not immune to this powerful force. The Internet
<br />provides a wonderful vehicle for the business of public
<br />finance. Ehlers is proud to be leading the way onto the
<br />information superhighway.
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<br />Bond issue disclosure is a natural fit for the Internet.
<br />Over the past two years, Ehlers has been providing an
<br />increasing amount of bond offering information on our
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<br />Fall 1999
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<br />website. The official statement for every Ehlers bond
<br />issue is available on the Internet. Internet disclosure now
<br />supplements the traditional mailing of printed
<br />documents. Electronic distribution of the official
<br />statement is becoming the norm. This trend brings
<br />several advantages:
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<br />./ Broaden the market. The Internet provides
<br />disclosure and bid information on your bond issue to
<br />the broadest possible market. It avoids missing a
<br />potential bidder that is not on mailing lists.
<br />./ Control costs. The typical official statement costs
<br />$350 to print and distribute. E-disclosure will
<br />control printing and distribution costs for the issuer.
<br />./ Enhance disclosure. Use of the Internet makes
<br />information available faster and to anyone that is
<br />interested. Investors in the secondary market have a
<br />new and convenient source of information.
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<br />The Internet and Ehlers is making disclosure work in a
<br />way that is impossible with traditional means of
<br />communications.
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<br />Internet Bidding
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<br />The Internet is changing the way we conduct bond sales.
<br />In 2000, Ehlers will provide the option of Internet-based
<br />bidding for all bond sales. We will still offer more
<br />traditional bid options, but expect the popularity of
<br />Internet bidding to grow rapidly.
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<br />The advantages of Internet bidding are clear. It is easy
<br />and convenient. Once registered as a bidder with
<br />appropriate good faith security, all a bidder needs to do is
<br />call up Ehlers bond sale web page and enter the data for a
<br />bid. It is accurate. Ehlers bid program checks the true
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<br />See Trends & Issues on Page 5
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<br />Inside The Advisor '-- ;~~1~(15
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<br />Minnesota Bond Sales
<br />Sale re"ul t" for bonds sold in J line
<br />through September.
<br />
<br />Are You Ready?
<br />Insights on preparing for the
<br />eventual State Auditor's re\'iew
<br />of tax increment financing in
<br />your city,
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<br />Page 2
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<br />Page 6
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<br />2000 TIF Seminar
<br />Information on the annual
<br />Publicorp seminar on tax
<br />increment financing,
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<br />Timely Payments
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<br />Tips on managing debt service
<br />payments with DTC
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<br />Page 6
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<br />Page 6
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