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~ity of <br /> <br />River <br /> <br />M£MORANDUM <br /> <br />Item #5.11. <br /> <br />TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />Mayor & City Council <br /> <br /> Klaers, City Adminis~r <br />Pat <br /> <br />August 14, 2000 <br /> <br />Financial Consultants <br /> <br />In July 2000, two financial consulting firms made presentations to the City <br />Council regarding their experience and expertise. These two firms were <br />Ehlers and Associates, Inc., and Springsted, Inc. <br /> <br />The city's financial needs have evolved over the years and currently staff sees <br />the need for additional financial services beyond bonding. In general, the city <br />would like to work with the financial consultants in the development and <br />implementation of a long-range financial strategic plan. <br /> <br />Both firms have extensive experience in municipal bonds and both firms <br />appear to be capable of providing additional financial consulting services. The <br />fees for services charged by each firm are similar. The decision by the City <br />Council on which firm to use for bonding and financial consulting services <br />depends on their comfort level with the two firms. The city has worked with <br />Springsted in the past and would be comfortable continuing this working <br />relationship. On the other hand, staff would also be able to work with Ehlers <br />and would be comfortable establishing a working relationship with this firm <br />as we have previously worked with Rusty Fifield. <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · TDD & Phone: (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />