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<br />ec f/aIriu Llf. 57 II! /oC;- <br />lien 5/, <br /> <br /> <br />City of Elk River, MN <br />Results of Bond Sale <br /> <br />May 16, 2005 <br /> <br />$1,070,000 General Obligation Improvement Refunding Bonds, <br />Series 2005A <br /> <br />Low Bidder <br /> <br />True Interest Cost <br /> <br />United Bankers' Bank <br />Bloomington, Minnesota <br /> <br />3.5368% <br /> <br />Number of Bids <br />Rating <br /> <br />4 <br /> <br />Range of Bids <br />Total Debt Service <br /> <br />A1 Moody's Investors Services <br />(Upgraded from A2) <br /> <br />3.5368% - 3.7269% <br /> <br />Principal Amount <br />Discount Allowance <br />True Interest Cost <br />Coupon Rates <br />I nterest Cost <br /> <br />Proiected 5/2 <br /> <br />$1,085,000 <br />$13,562.50 <br />3.9916% <br />3.05% - 4.10% <br />$262,558.72 <br /> <br />Results of Sale <br /> <br />Variance <br /> <br />$1,070,000 <br />$8,560 <br />3.5287% <br />2.75% - 3.70% <br />$227,384.32 <br /> <br />-$15,000 <br />-$5,002.50 <br />-0.4628 % <br /> <br />-$35,174.40 <br /> <br />Closi ng Date <br />Council Action <br /> <br />June 14,2005 <br /> <br />Award the bid of United Bankers' Bank and Adopt the Resolution <br />Providing for the Issuance and Sale of $1 ,070,000 General <br />Obligation Improvement Refunding Bonds, Series 2005A, <br /> <br />Attachments <br /> <br />. Bid Tabulation <br />. Final Debt Service <br />