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lip <br /> Elk River <br /> 1 Municipal Utilities <br /> 13069 Orono Parkway phone: 763.441.2020 <br /> I <br /> Elk River,MN 55330 Fax.763.441 8099 <br /> I <br /> October 5, 2005 <br /> I To: Elk River Municipal Utilities Commission <br /> Jerry Takle <br /> John Dietz <br /> IJim Tralle <br /> From: Bryan Adams <br /> ISubject: Electric Bond Options <br /> I <br /> At the September 13`11, 2005 Elk River Municipal Utilities Commission meeting, we <br /> discussed options for our upcoming electric bond issue. Anthony Hedlof of MMUA <br /> made a presentation using MCMU bond pool. Anthony Hedlof and Kathleen Aho of <br /> NO Springsted will be at our meeting with more information. Srpingsted is MCMU financial <br /> advisors and the former City of Elk River financial advisor. <br /> I Enclosed is an Email and graph reflecting the history of tax-exempt variable rates which <br /> is a good indicator of MCMU program rates. <br /> I The commission asks what would be the impact on communities with outstanding loans <br /> if the $50 million draw down bond was not completely spent before the required time. <br /> The initial response is no effect. This issue will be addressed further at our meeting. <br /> I <br />