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OFFICIAL STATEMENT
<br />$12,620,000*
<br />CITY OF ELK RIVER, MINNESOTA
<br />ELECTRIC REVENUE BONDS, SERIES 2021B
<br />(BOOK ENTRY ONLY)
<br />INTRODUCTORY STATEMENT
<br />General
<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 Commission
<br />(the “Commission”); and the issuance of $12,620,000* Electric Revenue Bonds, Series 2021B (the “Series
<br />2021B Bonds”). The Series 2021B Bonds are being issued pursuant to Minnesota Statutes, Chapters 475
<br />and 453;aresolution adopted by the Commission onMarch 9, 2021authorizing the issuance of the Bonds;
<br />and a resolution adopted by the City on March 15, 2021 (the “City Resolution”) approving the issuance of
<br />the Bonds and authorizing certain action to be taken by the Commission with respect to the issuance of the
<br />Bonds.
<br />The Commission has been given authority by the City, pursuant to the City Resolution,to adopt the
<br />resolution awarding the sale oftheBonds. On April 13, 2021, the Commission will receive proposals to
<br />purchase the Bonds. If a proposal for the Bonds is acceptable, the Commission will adopt aresolution (the
<br />“Awarding Resolution”) authorizing the issuance of theBonds, establishing the terms of the Bonds, and
<br />awarding the sale of the Bonds.
<br />The Series 2021B Bonds are special obligations of the City payable solely from Net Revenues (as defined
<br />herein) of the City’s electric system (the “Electric System”) operated by the Commission. The Series 2021B
<br />Bonds are being issued on a parity with the City’s Electric Revenue Bonds, Series 2018A (the “Series
<br />2018A Bonds”), City’s Electric Revenue Bonds, Series 2016A (the “Series 2016A Bonds”) and Electric
<br />Revenue Refunding Bonds, Series 2016B (the “Series 2016B Bonds” and, together with the Series 2016A
<br />Bonds and Series 2018A Bonds,the “Outstanding Bonds”). The Outstanding Bonds and the Series 2021B
<br />Series 2021B Bonds are collectively referred to as the “Parity Bonds.” See “UTILITY REVENUE DEBT”
<br />herein.
<br />Inquiries regarding the Utility may be directed to Ms. Melissa Karpinski, Finance Manager, Elk River
<br />Municipal Utilities, 13069Orono Parkway, Elk River, Minnesota 55330-0490, by telephoning (763) 635-
<br />1322, or by emailing mkarpinski@ermumn.com. Inquiries regarding the City may be directed to Ms. Lori
<br />Ziemer, Finance Director, City of Elk River, 13065 Orono Parkway, Elk River, Minnesota 55330-0490, by
<br />telephoning (763) 635-1022, or by emailing lziemer@elkrivermn.gov. Inquiries may also be made to Baker
<br />Tilly Municipal Advisors, LLC, 380 Jackson Street, Suite 300, Saint Paul, Minnesota 55101-2887, by
<br />telephoning (651) 223-3000, or by emailing bondservice@bakertilly.com
<br />* Preliminary; subject to change.
<br />Baker Tilly Municipal Advisors, LLC is a registered municipal advisor and controlled subsidiary of Baker Tilly US, LLP, an accounting firm.
<br />Baker Tilly US, LLP trading as Baker Tilly is a member of the global network of Baker Tilly International Ltd., the members of which are separate
<br />and independent legal entities. © 2021 Baker Tilly Municipal Advisors, LLC.
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