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EHLERS <br /> <br />& ASSOCIATES INC <br /> <br />August 3, 2000 <br /> <br />Honorable Mayor and City Council <br />City of Elk River <br />13065 Orono Parkway <br />Elk River, MN 55330-0490 <br /> <br />Dear Mayor Klinzing: <br /> <br />On August 14, you will choose a financial advisor for the City of Elk River. During our <br />presentation, we sought to highlight the factors that make Ehlers & Associates uniquely <br />qualified to be your financial advisor. As you consider your options, you must ask "What <br />distinguishes one financial advisor from another?" Ehlers believes the difference is value. <br />Ehlers creates value for Elk River. This value leads to economic benefits. <br /> <br />Such statements are hollow boasts unless we explain how we will actively create this value <br />for Elk River. Our plan to serve Elk River has four basic elements. <br /> <br />1. Make every bond issue successful. <br /> <br />Planning is the key to every bond issue. Planning ensures that the issue produces <br />the funds you require and the debt matches the available revenues. Planning tests <br />various debt options to find the one that works best for Elk River. You know the <br />financial commitments needed to support the debt and those commitments do not <br />change over time. Since the vast majority of City debt is backed by a general <br />obligation pledge, Elk River taxpayers rely on the validity of the planning that goes <br />into every issue. The experience of Elk River School District illustrates the <br />importance of getting it right at the beginning. <br /> <br />Marketability is another important ingredient of success. The theory of competitive <br />bond sales is simple. The greater the number of bidders, the greater the likelihood <br />of lower interest costs for the City. With the consolidation of investment banking <br />firms, the total universe of bidders continues to shrink. Ehlers' strives to attract as <br />many as possible to every sale. With this region's only Internet bidding site and the <br />electronic distribution of sale information, we make bidding on Elk River bonds <br />easier than ever before. <br /> <br /> LEADERS IN PUBLIC FINANCE <br /> <br />3060 Centre Pointe Drive, Roseville, MN 55113-1105 <br /> <br />Equal Opportunity Employer <br /> <br />Charter Member of the National Association <br />of Independent Public Finance Advisors <br /> <br />651.697.8500 tax 651.697.8555 www.ehlers-inc.com <br /> <br /> <br />