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