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Debt Issuance Services <br /> 11—E-01-1=1 <br /> with IRS parameters and to avoid penalties for carrying too high of a <br /> balance during the life of the issue. <br /> Rating: The City has an AA rating from Standard&Poor's. <br /> Bank Qualification: Because the City is issuing less than$10 Million in the calendar year, the <br /> City will be able to designate the Bonds as "bank qualified"obligations. <br /> Bank qualified status broadens the market for the Bonds. <br /> Term/Call Feature: Interest is payable each six months beginning August 1, 2013. Principal <br /> on the Bonds will be due on February 1 in the years 2013 through 2023. <br /> The Bonds maturing on February 1, 2020 and thereafter will be callable on <br /> February 1, 2019. <br /> Other We will continue to monitor the market and the call dates for the City's <br /> Considerations: outstanding debt and will alert you to any future refunding opportunities. <br /> Proposed Debt Issuance Schedule <br /> Pre-Sale Review by Council: February 28, 2012 <br /> Distribute Official Statement: March 15, 2012 <br /> Conference with Rating Agency: Week of March 19, 2012 <br /> City Council Meeting to Award Sale of the Bonds: March 27, 2012 <br /> Estimated Closing Date: April 19, 2012 <br /> Prepayment of 2004A and 2004C Prior Bonds: Approximately June 1,2012 <br /> Attachments <br /> Sources and Uses of Funds <br /> Proposed Debt Service Schedule <br /> Ehlers Contacts: <br /> Financial Advisors: Mark Ruff (651) 697-8505 <br /> Dave Callister (651) 697-8553 <br /> Bond Analyst Ginene Schultz (651) 697-8547 <br /> Bond Sale Coordinator: Alicia Baldwin (651) 697-8523 <br /> The Official Statement for this financing will be mailed to the Council Members at their home address for <br /> review prior to the sale date. <br /> el Presale Report <br /> February 28, 2012 Page 3 <br />