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rv <br />i-’. <br />k•y <br />I <br />r <br />I <br />&■;. <br />Iir <br />I'- <br />vvl <br />I <br />f-s <br />n: <br />^MenillLynch <br />Chris Dunne <br />Vice President <br />Private Client Group <br />lWent> ’Seven Hundred IDS Tower <br />80 South Eighth Street <br />Mlnneapote, MinnesoU 55402 <br />6123497998 A20 South Brown Rd <br />Long Lake 55356 <br />August 8, 1991 <br />cnvof <br />ORONO 1lissom <br />City of orono <br />Attention John Gerhardson <br />Box 66 <br />Crystal Bay, MN 55323 <br />AUG 1 3 1991 <br />Dear Mr. Gerhardson; <br />I would like to advise you of my opposition to tl s City <br />Councils proposed issue of H.P.A. bonds for a new cty <br />administration complex. <br />At the current time our county is awash in buildings <br />built ostensibly to cater to perceived future demands. <br />Many buildings nave been foreclosed upon, many suffer <br />from poor cash flow vs. initial proiections. Yet our <br />council proposes to build at this time a complex which <br />many do not consider to be modest! <br />The council refuses to take the issue to the voting <br />population; the press coverage implies there is <br />significant debate as to whether the people feel we need <br />this type of proposed complex. <br />The issue of H.R.A. bonds is a back door approach to <br />skirt the issue of the people's consent that would be <br />needed for a G.O. issue. The onus of the debt service <br />will still fall upon us the constituency, yet the <br />council persists in a manner that will probably require <br />a higher debt service be borne by us through the Revenue <br />Bond issue vs. a G.O. financing.