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OFFICIAL STATEMENT
<br /> $10,000,000*
<br /> CITY OF ELK RIVER, MINNESOTA
<br /> ELECTRIC REVENUE BONDS,SERIES 2018A
<br /> (BOOK ENTRY ONLY)
<br /> INTRODUCTORY STATEMENT
<br /> This Official Statement contains certain information relating to the City of Elk River, Minnesota
<br /> (the"City"); the Elk River Municipal Utilities (the "Utility"); the Elk River Municipal Utilities
<br /> Commission (the "Commission"); and the issuance of $10,000,000* Electric Revenue Bonds,
<br /> Series 2018A (the "Bonds"). The Bonds are being issued pursuant to Minnesota Statutes, Chapters 475
<br /> and 453, and Sections 412.321 through 412.391, all as amended; a resolution adopted by the City on
<br /> J y 16, 2018 (the "City Resolution") approving the issuance of the Bonds and authorizing certain action
<br /> to be taken by the Commission with respect to the issuance of the Bonds; and a resolution adopted by the
<br /> Commission on July 10,2018 authorizing the issuance of the Bonds.
<br /> The Commission has been given authority by the City, pursuant to the City Resolution, to adopt the
<br /> resolution awarding the sale of the Bonds. On August 29, 2018, the Commission will receive proposals
<br /> to purchase the Bonds. If a proposal for the Bonds is acceptable, the Commission will adopt a resolution
<br /> (the "Awarding Resolution") authorizing the issuance of the Bonds, establishing the terms of the Bonds,
<br /> and awarding the sale of the Bonds.
<br /> The Bonds are special obligations of the City payable solely from Net Revenues (as defined herein)of the
<br /> City's electric system (the "Electric System") operated by the Commission. The Bonds are being issued
<br /> on a parity with the City's Electric Revenue Bonds, Series 2016A (the "Series 2016A Bonds") and
<br /> Electric Revenue Refunding Bonds, Series 2016B (the "Series 2016B Bonds" and, together with the
<br /> Series 2016A Bonds, the "Outstanding Bonds"). The Outstanding Bonds and the Bonds are collectively
<br /> referred to as the"Parity Bonds." See"UTILITY REVENUE DEBT"herein.
<br /> Inquiries regarding the Utility may be directed to Ms. Theresa Slominski, Finance and Office Manager,
<br /> Elk River Municipal Utilities, 13069 Orono Parkway, Elk River, Minnesota 55330-0490, by telephoning
<br /> (7.3) 635-1325, or by emailing tslominski@elkriverutilities.com. Inquiries regarding the City may be
<br /> di ected to Ms. Lori Ziemer, Finance Director, City of Elk River, 13065 Orono Parkway, Elk River,
<br /> linnesota 55330-0490, by telephoning (763) 635-1022, or by emailing lziemer@elkrivermn.gov.
<br /> In.uiries may also be made to Springsted Incorporated, 380 Jackson Street, Suite 300, Saint Paul,
<br /> linnesota 55101-2887, by telephoning(651) 223-3000, or by emailing bond_services@springsted.com.
<br /> CONTINUING DISCLOSURE
<br /> I order to assist the Underwriters in complying with SEC Rule 15c2-12 (the "Rule"), pursuant to the
<br /> A arding Resolution, the City and the Commission have covenanted to comply with the continuing
<br /> di.closure undertaking (the "Undertaking") for the benefit of holders or beneficial owners of the Bonds to
<br /> p .vide certain financial information and operating data relating to the City and the Utility to the Municipal
<br /> S:curities Rulemaking Board annually, and to provide notices of the occurrence of certain events
<br /> * Preliminary;subject to change.
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