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Bond Sale Report <br /> <br />INTRODUCTION <br /> <br />This report describes the proposed plan to issue $3,590,000 G.O. Water Revenue Bonds, Series <br />2001A. Ehlers & Associates prepared this report in consultation with Staff' and bond counsel. <br />The report describes: <br /> <br />Purpose and components of bond issue. <br /> <br />Structure. <br /> <br />Other considerations in issuing bonds. <br /> <br />Market conditions. <br /> <br />Issuing process. <br /> <br />PURPOSE <br /> <br />The $3,590,000 G.O. Water Revenue Bonds, Series 200lA (the "Bonds") are being issued <br />pursuant to Minnesota Statutes, Chapter 475 and Section 444.075. The Bonds are being issued <br />to finance improvements to the municipal water system including storage, well and treatment <br />facilities. <br /> <br />Financing these projects requires a bond issue in the amount of $3,590,000. The proposed <br />finance plan consists of the following sources and uses of funds: <br /> <br />SOURCES <br />Par Amount of Bonds $3,590,000 <br />Up-Front Revenue 0 <br /> <br />USES <br />Project Costs $3,504,900 <br />Costs of Issuance 30,100 <br />Discount 55,000 <br />Capitalized Interest 0 <br />Other 0 <br /> <br />Total Sources $3,590,000 Total Uses $3,590,000 <br /> <br />The above costs reflect construction bids received by the Utilities Commission. <br /> <br />Page 2 <br /> <br /> <br />