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Lakes State Bank has indicated that they could not match <br /> the 6.75%. <br /> Sid Inman of Ehlers also indicated that this rate was pretty <br /> good. He indicated that he may be able to get a little bit <br /> better rate, however, when you add in the costs associated <br /> with redrafting the lease purchase documents, the interest <br /> rate would be very close to the 6.75%. I believe it would be <br /> best to continue with American National Bank. They have <br /> been very accommodating in this endeavor. <br /> Council Action Requested: Council motion to continue <br /> the loan with American National Bank. <br />