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Results of Bond Sale <br />City of Elk River <br /> <br />$3,590,000 <br />G.O. Water Revenue Bonds, Series 2001 <br /> <br />September 24, 2001 <br /> <br />Low bid (TIC) <br /> <br />4.7327% <br />(Presale Report estimate - 5.22 %) <br /> <br />U.S. Bancorp Piper Jaffray <br /> <br />Number of bids 5 <br />Range of bids 4.7327% to 4.9596% <br /> <br />Rating Moody's Investors Service <br /> A3 rating confirmed (positive outlook) <br /> AMBAC Insured <br />Recommended action Adopt <br /> "Resolution Providing for the Issuance and Sale of the <br /> City's $3,590,000 General Obligation Water Revenue <br /> Bonds, Series 200lA". <br /> <br />Attachments <br /> <br />1. Tabulation of bids <br />2. Final debt service analysis <br />3. Comparison of recent sales <br /> <br />EHLERS <br /> <br />& ASSOCIATES INC <br /> <br /> 3060 Centre Pointe Drive Roseville, MN 55113-1105 <br />651.697.8506 fax651.697.8506 www. ehlers-inc.com <br /> <br /> <br />