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<br />e <br /> <br />Recommendations for <br /> <br />City of Elk River, Minnesota <br />$1,010,000 <br />General Obligation Water Revenue Bonds, <br />Series 1994D <br /> <br />EXECUTIVE SUMMARY <br /> <br />This summary is intended to highlight data contained in these recommendations. It is intended <br />to be an adjunct to the recommendations and not to be used solely as the basis of <br />determination of actions required. Your actions should be based on the information more fully <br />set forth in the recommendations. <br /> <br />1. Action Requested <br /> <br />To establish the date and time of receiving <br />bids and establish the terms and conditions <br />of the Offering. <br /> <br />Proceeds of the issue will be used to finance <br />the construction of a pedestal spherical tank <br />at the Gary Street location. <br /> <br />e <br /> <br />2. Type and Purpose of Offering <br /> <br />6. Optional Redemption <br /> <br />$1,010,000 <br /> <br />February 1, 1996 through 2010 <br /> <br />Net revenues of the water utility and ad <br />valorem tax levies, jf necessary. <br /> <br />February 1,2004, and on any day thereafter, <br />to prepay Bonds due on or after February 1, <br />2005. <br /> <br />3. Principal Amount of Offering <br />4. Repayment Term <br />5. Source of Debt Service Revenues <br /> <br /> 7. Credit Rating Comments <br /> 8. Sale Date and Time <br /> 9. Award Date and Time <br />e 10. Comments <br /> <br />Moody's rating recommended. The City's <br />current rating is KBaa1." <br /> <br />Monday, November2B, 1994 at 11:00 A.M. <br /> <br />Monday, November 28,1994 at 6:00 P.M. <br /> <br />The City is to inform Springsted as to its <br />decision, concerning if it will use TIF District <br />No.4 monies to reduce the size of this <br />issuance. <br />