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• Standard & Poor's Rating(cost of rating more than offset by interest rate savings) <br /> • Limited Disclosure <br /> Oations Considered <br /> In addition to the recommended competitive sale as noted above, I considered other options before <br /> coming to that conclusion. For instance, I looked at intergovernmental funding options(MN Rural Water, <br /> USDA, PFA,etc.).These options were discarded for a variety of factors including, but not limited to: <br /> • Eligibility of programs for type of project be finance <br /> • Application process,time delays and uncertainty of funding <br /> • Pricing <br /> • Additional administrative, legal costs&ongoing reporting burden <br /> Schedule and Issuance <br /> The proposed schedule for putting the project financing in place is as follows: <br /> July 9,2018 Present Recommendations/Call for Tax Abatement Public Hearing <br /> August 7,2018 Tax Abatement Public Hearing/Set Sale Resolution <br /> September 4,2018 Council Awards Sale <br /> September 18,2018 Bond Closing <br /> We believe these recommendations are suitable for the City. Thank you and we look forward to working <br /> with the City on this project. <br /> Respectfully, <br /> Jason Murray,Associate <br /> David Drown Associates,Inc. <br /> iason@daviddrown.com <br />