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IF <br />City of Pequot Lakes, Minnesota <br />January 20, 2012 <br />Page 2 <br />We are confident that our firm's assets and experiences will provide significant value to the City of IF <br />Pequot Lakes and differentiate Springsted's proposal from the competition. If selected to perform your IF <br />utility rate analysis, we will deliver our products and services professionally, ethically and with an <br />unmatched commitment to outstanding customer service. <br />y <br />On behalf of Springsted Incorporated, thank you for the opportunity to submit. <br />R pectfull)su mi tted, <br />Paul Stei , CIPFA, Vice President <br />Client Representative <br />ldr <br />