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Item # 5.4. <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />Mayor and City Council <br /> <br />FROM: <br /> <br />Lori Johnson, Finance Director <br /> <br />DATE: July 19, 2004 <br /> <br />SUBJECT: Consider Resolution Providing for the Sale of $940,000 Electric <br /> Revenue Bonds, Series 2004A <br /> <br />The Elk River Mumcipal Utilities Commission has requested that the city issue Electric Revenue <br />Bonds for electric system improvements that are already underway. Attached is a resolution <br />providing for the sale of $940,000 Electric Revenue Bonds and the pre-sale report for these bonds. <br /> <br />Due to timing, the sale of the bonds will be on August 3 with City Council approval on August 2 <br />contingent upon review by a Pricing Committee appointed by the City Council. This is being done <br />because the bond sale calendar for August 2 is full and m order to get the best bids, an alternate date <br />has been chosen. I will have additional information for the Council on this issue at the meeting. <br /> <br />Action Requested <br />The City Council is asked to approve the resolution providing for the sale of $940,000 Electric <br />Revenue Bonds, Series 2004A. <br /> <br />S:~CouncilM.ori\ 2004~ electricrcvbonds.doc <br /> <br /> <br />