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<br /> <br /> <br /> <br />City of Elk River, Minnesota <br />Pre-Sale Summary for Issuance of Bonds <br /> <br />$33,735,000 General Obligation Sales Tax Revenue Bonds, Series 2019A <br />The City Council has under consideration the issuance of bonds to finance (i) various recreational facility <br />improvements; (ii) park improvements; (iii) dredging of Lake Orono; and (iv) trail improvements. This document <br />provides information relative to the proposed issuance. <br />The following summary schedule includes the timing of some of the key events that will occur <br />KEY EVENTS: <br />relative to the bond issuance. <br /> <br />July 15, 2019 Council sets sale date and terms <br />Week of August 5, 2019 Rating conference is conducted <br />August 19, 2019, 11:00 a.m. Competitive proposals are received <br />August 19, 2019, 7:00 p.m. Council considers award of the Bonds <br />September 19, 2019 Proceeds are received <br /> <br />RATING: An application will be made to S&P Global Ratings (S&P) for a rating on the Bonds. The <br />general obligation debt is currently rated AA+P. <br /> <br />Performance of the tax- <br />THE MARKET: <br />th <br />which measures the yield of high grade municipal bonds in the 20 year for general <br />obligation bonds -Bond GO Index) and the <br />th <br />30 year for revenue bonds -Bond Revenue <br />Index). The following chart illustrates these two indices over the past five years. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />3 <br /> <br />3 <br />1 <br />. <br />4 <br />9 <br />8 <br /> <br />0 <br />9 <br />0 <br />1 <br /> <br />: <br />0 <br />. <br />2 <br />o <br /> <br />, <br />N <br />1 <br /> <br />y1 <br /> <br />d <br />y <br />l <br />u <br />t <br />u <br />SJ <br /> <br /> <br />