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City of Gem Lake, MN <br />Results of Bond Sale <br />,gr <br />`JL July 31, 2006 <br />$245,000 General Obligation <br />` 40�1� `P l.. Improvement Bonds, Series 2006A <br />Low Bidder Wells Fargo Brokerage Services, LLC <br />Minneapolis, Minnesota <br />True Interest Cost 4.5839% <br />Number of Bids 3 <br />Rating Non -Rated <br />Range of Bids 4.5839% - 4.7274% <br />Total Debt Service Results of Sale <br />Principal Amount <br />$245,000 <br />Discount Taken <br />$3,675 <br />True Interest Cost <br />4.5839% <br />Interest Rate <br />4.30% <br />Available for Const. <br />$227,126 <br />Interest Expense <br />$66,544 <br />Cost of Issuance <br />$9,575 <br />Capitalized Int. <br />$4,624 <br />Bond Buyer Index <br />4.55% <br />Closing Date August 23, 2006 <br />Council Action Accept the bid from Wells Fargo Brokerage Services, LLC and Adopt <br />"Resolution Providing for the Issuance and Sale of $245,000 General <br />Obligation Improvement Bonds, Series 2006A" <br />Attachments <br />0 Bid Tabulation <br />■ Final Debt Schedule <br />■ Graph, Bond Market <br />■ Bond Resolution EHLERS <br />0 & ASSOCIATES INC <br />3060 Centre Pointe Drive Roseville, MN 55113-1105 <br />651.697.8506 fax 651.697.8506 www.ehlers-inc.com <br />