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Item~ 4.1. <br /> <br />MEMORANDUM <br /> <br />TO: <br /> <br />FROM: <br /> <br />Mayor and City Council <br /> <br />Lori Johnson, Finance Director <br /> <br />DATE: <br /> <br />August 27, 2001 <br /> <br />SUBJECT: Consider Resolution Providing for the Sale of $3,590,000 General <br /> Obligation Water Revenue Bonds Series 200lA. <br /> <br />The Elk River Municipal Utilities has requested that the City issue $3,590,000 of General <br />Obligation Water Revenue Bonds to finance new water system facilities. Please see the <br />attached Bond Sale Report prepared by Ehlers & Associates for detailed information on this <br />bond issue. Bryan Adams has determined the bond amount and terms in consultation with <br />Rusty Fifield of Ehlers & Associates, Inc. Both Bryan Adams and Rusty Fifield will be at <br />Monday's meeting to address any questions you have on this issue. Rusty will also give you an <br />update on a change in the way bids will be received for this issue in an attempt to reduce <br />interest costs by increasing the number of bidders. <br /> <br />Action Requested <br /> <br />The City Council is asked to consider the attached resolution providing for the sale of <br />$3,590,000 General Obligation Water Revenue Bonds Series 200lA. <br /> <br />s:\council\watrevbonds.doc <br /> <br /> <br />