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<br />(:'/) an [j! cY1J- a/ t.c> !Cj(;J <br />II-trn 5: 3, <br /> <br /> <br /> <br /> <br />City of Elk River, MN <br />Results of Bond Sale <br /> <br /> <br />February 6, 2006 <br /> <br />$3,595,000 Electric Revenue Bonds, Series 2006A <br /> <br />Low Bidder <br /> <br />Northland Securities, Inc. <br />Minneapolis, Minnesota <br /> <br />3.9472% <br /> <br />True Interest Cost <br /> <br />Number of Bids <br /> <br />9 <br /> <br />Rating <br /> <br />A2 Moody's Investors Services <br />(One step below the city's A1 <br />general obligation rating) <br /> <br />3.9472% - 4.0887% <br /> <br />Range of Bids <br />Total Debt Service <br /> <br />Principal Amount <br />Discount Allowance <br />Costs of Issuance <br />True Interest Cost <br />Coupon Rates <br />Interest Cost <br /> <br />Proiected 11/9/05 <br /> <br />$3,595,000 <br />$62,912.50 <br />$27,900 <br />4.4732% <br />3.25% - 4.60% <br />$1,336,345 <br /> <br />Results of Sale <br /> <br />Variance <br /> <br />$3,595,000 <br />$57,707.85 <br />$28,086.25 <br />3.9472% <br />3.15% - 4.00% <br />$1,231,153.95 <br /> <br />$0 <br />-$5,204.65 <br />+186.25 <br />-0.526% <br /> <br />-$105,191.05 <br /> <br />Closing Date <br />Council Action <br /> <br />March 2, 2006 <br /> <br />Award the bid to Northland Securities, Inc. and adopt the <br />Resolution Concurring In The Action Of The Board Of <br />Commissioners Of The Public Utilities Commission Of The City Of <br />Elk River, Minnesota, In Providing For The Issuance And Sale Of <br />$3,595,000 Electric Revenue Bonds, Series 2006A. <br /> <br />Attachments <br /> <br />. Bid Tabulation <br />