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'ty of <br /> <br />ver <br /> <br />December 6, 1996 <br /> <br />Paul Ammerman <br />United Power Association <br />17845 East Highway 10 <br />P.O. Box 800 <br />Elk River, MN 55330-0800 <br /> <br />SUBJECT: ANOKA COUNTY CAPITAL FUND <br /> <br />Dear Mr. Ammerman: <br /> <br />The purpose of his letter is to provide you with a written request to the <br />United Power Association Board of Directors to consider becoming <br />shareholders in the Anoka County Capital Fund- soon to be <br />Anoka/Sherburne County Capital Fund. <br /> <br />Since our initial meeting of potential investors in the fund, we have received <br />verbal acknowledgment of approximately $125,000 in total investments from <br />three sources within Sherburne County. This falls short of our initial goal in <br />this first round recapitahzation of the fund but surely indicates a significant <br />commitment. <br /> <br />As we discussed on the phone several weeks ago, an ongoing issue which I am <br />concerned about is that Elk River and the portion of Sherburne County which <br />is in a territory served by Anoka Electric Cooperative, are unable to tap into <br />any of the business financing resources offered by UPA. Elk River and <br />Sherburne County continue to have substantial needs for business financing <br />programs such as those you offer. Due to the fact that I don't foresee any <br />changes in the future availability of these programs here in Elk River, the <br />Anoka County Capital Fund provides an excellent opportunity for UPA to <br />participate in sharing its financial resources for the benefit of local business. <br />Not only is Anoka County Capital Fund an excellent opportunity for UPA to <br />share its resources, but it is also a method to possibly achieve a significant <br />return on investment. <br /> <br />13065 Orono Parkway · P.O. Box 490 · Elk River, MN 55330 · (612) 441-7420 · Fax: (612) 441-7425 <br /> <br /> <br />