Agenda - Council - 11/28/2000 - Laserfiche WebLink

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I I I I I I largest staff of resources. He explained that Springsted only represents the client and Works with their clients as a partnership. The term "independent" means that they do not have any relationship with any underwriter; they only work with the issuer, which ensures that the issuer is not compromised in a bond transaction. Mr. Boyer reviewed the management services that Springsted can provide as well as the Housing and Economic Development and Investment Services. Brenda Krueger, Springsted Public Finance Advisors, reviewed a list of their current clients. She explained that she has been with Springsted for 13 ye'ars and growing corm:nunities similar to Ramsey have been the "heart and soul" of Springsted. Ms. Krueger explained that her primary responsibility is to be in the office which would make her available for any quick responses the City would need from Springsted. Ms. Aho reiterated that growing communities are the "heart and soul" of Springsted. She explained that Springsted works with the large communities, but they started with cities similar to Ramsey. Councilmember Anderson questioned how the City of Ramsey 'can be assured that the communication problems will be improved with Springsted. Ms. Aho replied that Mr. Boyer will have a devoted relationship with his clients and Ms. Krueger is the best in the business. They are both committed to making the changes. Mr. Boyer replied that to him it does not matter if the City is large or small because he understands the urgency of a finance question for a City since he has been in the same situation as a Finance Officer. Mayor Gamec stated that he personally knows a lot of people from Springsted and the firm has a very good representation, but the City has to look at the service they have receixed from Springsted. Ms. Aho replied that Springsted went through a period where they had a high staff turnover and, unfortunately, the City of Ramsey felt the stress of the company's hard time. But the problems the City had experienced have definitely been brought to Springsted's attention. ' Councilmember Hendriksen stated that the City has been contemplating the Purchase of some acreage west of Ramsey Boulevard and the opinion he has heard is that 'the City of Ramsey received some bad advice from Springsted regarding the financial possibility of obtaining that land. Ms. Aho replied that she was not made aware of any .prOblems regarding that issue. Finance Officer Lund explained that a study was completed by Springsted to detern~ine if the City could use TIF funds for the project and Springsted continued on with the project even Finance Committee/October 10, 2000 Page 3 of 5 -31-