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City of Elk River, Minnesota <br />May 8, 1996 <br /> <br />principal with interest charged on the unpaid balance at a rate of approximately 1.5% over the <br />net interest rate on the Series 1996B Bonds. <br /> <br />Respectfully submitted, <br /> <br />SPRI NGSTED I~ncorporated <br /> <br />PJP <br />Provided to Staff: <br /> a) Summary of Arbitrage Rules <br /> b) Summary of Continuing Disclosure Requirements <br /> c) Rebate and Continuing Disclosure Contracts <br /> <br />Page 4 <br /> <br /> <br />