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/ `,. <br />, ~'._ + ,. <br />April 29, 2008 <br />~__-- <br />-. <br />----- <br />The Honorablo f Elk River Khnzmg <br />Mayor, City <br />-_ - " 13065 Orono P5 5330 MAY ~ 2 ~~08 <br />Elk River, MN <br />Dear Mayor Klinzing: <br />lication for a Minnesota Pub lc ril 29, <br />ou that the City of Elk River's aP Loan Fund was approved on Ap <br />I am pleased to inform Y Transportation Revolving <br />Facilities Authority (Auth4~ 1 500 5-year loan to the City will bare an interest rate of 1.31 <br />2008. The Authority's $2, <br />percent. a ers <br />estimate that the Authority'sazlnd wrt~lgthe Crry issuing a general obligation <br />We conservatively <br />approximately $113,082 in interest costs Como ect. <br />bond at current market rates to finance the p J , <br />The loan award is contingent ~pQ~ a~~~ent for the projecEwillRbe sengto you shorrtly•0~ bond <br />and related certifications. Th <br />uestions about the Authority's financing to the City of Elk River or about the <br />eneral, please feel free to contact Stephen LaFontaine, your program <br />If you have any q _ <br />ro ems In g <br />Authority's p gr - - <br />representative, at 651/259-7471. <br />~G <br />Dan ~L~lroy, Chair <br />Nfly Public Facilities Authority <br />Minnesota Public Facilities Authority <br />1" National Bank Building • 332 Minnesota St., 8nife E200 • Saint Paul, MN 55101-1351 • USA <br />651-25')-74G9.800-657-3858 • Fax: G51-296-8833 • TFY/I'DD: 651-296.3900 <br />vnvw.positivelyminnesota. cam/Community/assistance/pfa.htm <br />An equal oppanuniry employer arrd service provider <br />