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Competitive Sale Results <br /> PURPOSE: For the purposes of financing the acquisition of capital equipment <br /> and street improvements within the City's Tax Increment Financing <br /> (Redevelopment) District No. 14 ("TIF District No. 14") <br /> RATING: S&P Global Ratings "AA+" <br /> NUMBER OF BIDS: 6 <br /> LOW BIDDER: Baird, Milwaukee, Wisconsin <br /> COMPARISON FROM LOWEST TO HIGHEST BID: <br /> (TIC as bid) <br /> LOW BID:* 4.1475% <br /> HIGH BID: 4.3148% <br /> Summary of Sale Results: <br /> Principal Amount*: $8,3151000 <br /> Underwriter's Discount: $933126 <br /> Reoffering Premium: $3143131 <br /> True Interest Cost: 4.1480% <br /> Costs of Issuance: $823000 <br /> Yield: 3.80%-4.25% <br /> Total Net P&I $113495,662 <br /> NOTES: * Subsequent to bid opening, the issue size was decreased <br /> to $8,315,000.00. <br /> CLOSING DATE: November 15, 2023 <br /> CITY COUNCIL Adopt a resolution awarding the sale of $8,315,000 General <br /> ACTION: Obligation Bonds, Series 2023A. <br /> SUPPLEMENTARY ATTACHMENTS <br /> • Bid Tabulation <br /> • Sources and Uses of Funds and Updated Debt Service Schedules <br /> • Rating Report (Distributed to City via email from S & P) <br /> • Bond Resolution (Distributed in City Council Packets) <br /> Sale Day Report for City of Ramsey, Minnesota 1 <br />