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' '■ <br />& <br />* <br />i i <br />ki <br />k k A J <br />L J <br />Ehlers & Associates, Inc. <br />LEADERS IN PUBUC RNANCE <br />February 23,1998 <br />City Council <br />City of Orono <br />P.O. Box 66 <br />Crystal Bay, Minnesota 55323-0066 <br />Re: Crossover Advance Refunding of 1991 Public Facililies Revenue Bonds <br />it does qualify for refunding <br />6.50%. <br />interest rates have <br />savings of the $120,900 is $89,764.57 ° about $17,200 per year. Fhe “present value” <br />Exhibi. 4.00, Sources and Uses, shows ,he es.ima.ed cosls involved in ,he refunding. <br />Please note that the savings Is net of all costs of refunding. <br />•"i"--"S’ for a crossover advance refunding be a, least 3.00a on apresent value” basis. We have computed Oris Savings to be 4.20a <br />Sincerely, <br />Carolyn DruSe, CIPFA <br />Executive Vice President/Director <br />enc <br />N.\MlNNSOTA\ORONO\REFUNOIN\REaj.\DLTR <br />D»’'ve • Roseville. Minnesota 55113-1105 <br />(612) 697-8500 • FAX (612) 697-8555 • www.ehlers-inc.com