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<br /> Revenue Bonds (Fire Station #2), Tax Increment Bonds (Water Tower #2), and .C[~[~I. I
<br /> Equipment Certificates. In looking through the proposals by Springsted Public
<br /> and Juran and Moody, the services they offer are very comparable and either conSU'~i~i4t could'?' I
<br /> provide the services requested by the City. Although the scoring was close, Jur~!~d Moody
<br /> ranked hizher than Spfingsted on a few issues which ~bllow: .;~ ?: !:~!??;?~ '
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<br /> 1) Proposed Fees for Debt Issuance- The cost of issuing General O~on debt
<br /> consistent between the firms, but Springsted is considerably higb~ .in th~e':'}i,i~gap, ce of
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<br /> $1,000,000 Lease Revenue Bonds, whereas, Juran y .,~..:¢? ·
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<br /> Additionally, Springsted charges for all issuance costs invO~t such as'}rinting of statement, ~:~:.:;!?~? I
<br /> travel, etc. Juran and Moody's fees for ~ssuance costs.ammctuded re.the ~mt~al fee.
<br /> 2) Studies and Analysis- Juran and Moody perfo~'~i,: manager~:'~?~dies and fi.nancial
<br /> plann/ng analysis free of charge. Spfingsted chK.f,~'S'"'~:~'~ hour rate?'O~'~¢, services that are
<br /> non-debt obligation related. , :"~(~!~'!?.~,~ i~?~
<br /> 3) Personal Attention - The majority of Springsted. s clients"~?~&~::i'~rge cities such as Maple
<br /> Grove, Coon Rapids, and Woodbury. Juran and Moody foc'~)i~re on the. smaller cities,
<br /> such as Andover, Chaska, and Osseo. This may seem like a ~fi'or de~i~?but in recent
<br /> negotiations with Springsted (wh~i}~7~ City has currently used ;'h~!!~{~O~t sales) it was
<br /> apparent that Springsted con~dL~d'~:~h¢?~i~:a minor player. By~i~i~g this, staff was
<br /> referring to the lack of staffldP~'t~ ~d co~~:don~between th~?~i'ty and Spdngsted. A
<br /> smaller firm repres,e, ntativa:,'''with ~ler cities.~Ul&~rgp.~:!!~elY devote more personal
<br /> the Git s ro'ects and p6k~i..b, ly eveni'.eXpedite im~9,rt'ant projects.
<br /> attention to y p J ,:..,. ~,.~,~-
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<br /> FinanCe Officer Ltmd:noted that award off'th&!i}:d6~ract for financial services does not eliminate
<br /> Springsted Publiekih~e:Advisors from n~:6hating with the City in future years. The City is,
<br /> at this time, n'~g~tiating a ;n~'Year agreementS~.Xt th~end of the term, the City will examine the
<br /> service o ff~,d; from the financial consultant ar~::f~xrnendation will be made at to whether to
<br /> Continu~:~ the said financ4'~i institution for~th~i~6ilowing year.
<br />Kathy Aho, S~rfngst~:P...ubhc~FFnancmIi-%avm°rs, stated that she has worked with the City for
<br />numerous years '~d3feels that spdn~s~ is the fight firm for the City. She explained that
<br />.~?:~7~2~4i~gste~d does n~e~and sell securities they only offer advice to their customers. She
<br />..,:~)?~i.:?~x'~'~',vegi~the types of ~e~ices flint Springsted has to offer the City of Ramsey. Ms. Aho stated
<br />that she'~fid~erstands thai:-::m e.:has been some communications problems over the last year
<br />between th~-i':'~iw of RamseS' and Spfingsted staff, and explained that Spr/ngsted has had
<br /> numerous mr~brs whid~'~ave impacted the City of Ramsey more than other cities. She stated
<br /> ~f~ ~[~t ~rsoh~fin ~he teaTrn would be John Boyer who recently came to Sp.n, ngs. ted after ,b~e~,nge
<br /> that Snrinqste~.l~s rmt to~ether a team that they feel will be a benefit to the City of Ramsey.
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<br /> ~:;:~'77: the Finance D~ctor for the City of Minneapolis, the second member on me ream woum '~'-:t} Brenda Kru'~g~r who is in the client services.
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<br /> Jo~i:::B~er, Springsted Public Finance Advisors, reviewed Springsted's municipal market
<br /> an~Ysis. He explained that Springsted is the #1 financial advisor in Minnesota and has the
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<br />Finance Committee/October 10, 2000
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