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5.5 1992 Bond Sale SPR1NGSTED 120 South Sixth Street ' Suite 2507 PUBLIC FINANCE ADVISORS sa u` Minneapolis, MN 55402 -1800 yip (612) 333 -9177 ' Fax: (612) 349 -5230 Home Office OCT 2 0 1992 85 East Seventh Place 16655 West Bluemound Road I CI Suite 100 Suite 290 Saint Paul, MN 55101 -2143 S r ur VnnivtiA$$EN Brookfield, WI 53005 -5935 (612) 223 3000 (414) 782 -8222 Fax: (612) 223 -3002 Fax: (414) 782 -2904 I 6800 College Boulevard Suite 600 Overland Park, KS 66211 -1533 (913) 345 -8062 Fax: (913) 345 -1770 1 1800K Street NW Suite 831 Washington, DC 20006 -2200 1 October 19, 1992 (202) 466 -3344 Fax: (202) 223 -1362 I Mr. Donald Ashworth, City Manager Chanhassen City Hall 690 Coulter Drive 1 Chanhassen, MN 55317 RE: $3,630,000 G.O. Improvement Bonds, Series 1992A 1 $1,350,000 G.O. Tax Increment Bonds, Series 19928 Dear Mr. Ashworth: 1 We are enclosing 10 copies of the Official Statement for the City's upcoming bond issues for distribution to Council members and staff as you deem appropriate. Please do not hesitate to call if you need additional copies or if you have any questions. 1 Respectfully, 1 Brenda Krueger . 1' Financial Analyst 1 enclosures 1 of .0° 1 ` V ?(A 1 Manager's Comments: Dave MacGillivray from Springsted will be present on Monday evening to present 1 the bid results. DWA (10- 20 -92) 1 1 1 pi S P R I N G ST E D 120 South Sixth Street Suite 2507 PUBLIC FINANCE ADVISORS Minneapolis, MN 55402 -1800 ' (612) 333 -9177 Fax: (612) 349 -5230 Home Office 85 East Seventh Place 16655 West Bluemound Road I Suite 100 Suite 290 Saint Paul, MN 55101 -2143 Brookfield, WI 53005-5935 (612) 223 -3000 (414) 782 -8222 Fax: (612) 223-3002 Fax:.(414) 782 -2904 I 6800 College Boulevard Suite 600 Overland Park, KS 66211 -1533 (913) 345 -8062 Fax: (913) 345 -1770 I 1800K Street NW Suite 831 $3,630,000 Washington, DC 20006-2200 I CITY OF CHANHASSEN, MINNESOTA (202) 466 - 3344 Fax: (202) 223 - 1362 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 1992A I AWARD: FBS INVESTMENT SERVICES, INC. NORWEST INVESTMENT SERVICES, INC. MERRILL LYNCH & CO. I PIPER JAFFRAY INC. And Associates I SALE: October 26, 1992 Moody's Rating: Baal Interest Net Interest True Interest Bidder Rates Price Cost Rate I FBS INVESTMENT SERVICES, INC. 5.00% 1995 - 1996 $3,584,625.00 $1,658,046.25 6.0996% NORWEST INVESTMENT SERVICES, INC. 5.25% 1997 -1998 MERRILL LYNCH & CO. 5.50% 1999 I PIPER JAFFRAY INC. 5.75% 2000 Cronin & Company, Incorporated 6.00% 2001 American National Bank Saint Paul 6.10% 2002 I Dougherty, Dawkins, Strand & 6.20% 2003 Bigelow, Incorporated 6.30% 2004 Moore, Juran and Company, Incorporated 6.40% 2005 I Peterson Financial Corporation Park Investment Corporation I REOFFERING SCHEDULE OF THE PURCHASER Rate Year Yield I 5.00% 1995 4.00% 5.00% 1996 4.50% 5.25% 1997 5.00% I 5.25% 1998 Par 5.50% 1999 Par 5.75% 2000 Par I 6.00% 2001 Par 6.10% 2002 Par 6.20% 2003 Par 6.30% 2004 Par I 6.40% 2005 Par BBI: 6.53 I Average Maturity: 7.50 Years 1 FrA S P R I N GST E D 120 South Sixth Street Suite 2507 ,, PUBLIC FINANCE ADVISORS Minneapolis, MN 55402 -1800 I (612) 333.9177 Fax: (612) 349 -5230 Home Office 85 East Seventh Place 16655 West Bluemound Road I Suite 100 Suite 290 Saint Paul, MN 55101 -2143 Brookfield, WI 53005-5935 (612) 223 -3000 (414) 782 -8222 Fax: (612) 223-3002 Fax: (414) 782-2904 I 6800 College Boulevard Suite 600 Overland Park, KS 66211 -1533 (913) 345 -8062 Fax: (913) 345 -1770 I 1800K Street NW Suite 831 Washington, DC 20006 -2200 I $1,350,000 (202) 466 -3344 Fax: (202) 223 -1362 CITY OF CHANHASSEN, MINNESOTA 1 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1992B AWARD: FBS INVESTMENT SERVICES, INC. I NORWEST INVESTMENT SERVICES, INC. MERRILL LYNCH & CO. PIPER JAFFRAY INC. And Associates I SALE: October 26,. 1992 Moody's Rating: Baal I Interest Net Interest True Interest Bidder Rates Price Cost Rate FBS INVESTMENT SERVICES, INC. 5.00% 1994 -1996 $1,333,125.00 $397,343.75 5.7156% I NORWEST INVESTMENT SERVICES, INC. 5.25% 1997 -1998 MERRILL LYNCH & CO. 5.50% 1999 PIPER JAFFRAY INC. 5.75% 2000 I Cronin & Company, Incorporated American National Bank Saint Paul Dougherty, Dawkins, Strand & I Bigelow, Incorporated Moore, Juran and Company, Incorporated Peterson Financial Corporation Park Investment Corporation REOFFERING SCHEDULE OF THE PURCHASER 1 Rate Year Yield 5.00% 1994 3.75% I 5.00% 1995 4.00% 5.00% 1996 4.50% 5.25% 1997 5.00% I 5.25% 1998 Par 5.50% 1999 Par 5.75% 2000 Par I BBI: 6.53 Average Maturity: 5.18 Years 1 Changes in the Bond Buyer's 20 -Year G.O. Index Week 1990 1991 1992 I 1 7.03 7.09 6.52 Trends 1985 To Date 2 7.03 7.15 6.40 3 7.14 7.10 6.56 10.00 I 4 7.19 7.06 6.59 / 5 7.24 7.00 6.65 6 7.20 6.86 6.71 I r ' I 7 7.16 6.81 6.74 9.00 h 8 7.27 6.97 6.75 � 9 7.25 7.01 6.74 10 7.25 7.06 6.71 l I 11 7.32 7.06 6.76 8.00 12 7.33 7.13 6.79 i ;) 13 7.33 7.14 6.77 It ' p ,e,ivki I 14 7.31 7.06 6.73 15 7.39 7.02 6.66 7.00 t W 16 7.51 6.98 6.60 17 7.54 7.01 6.68 I 18 7.39 6.95 6.69 19 7.29 6.93 6.64 6.00 20 7.26 6.94 6.54 ' 21 7.26 6.98 6.51 22 7.21 6.97 6.58 23 7.20 7.06 6.57 5.00 I I 1985 1986 1987 1988 1989 1990 1991 1992 1 24 7.28 7.19 6.52 25 7.27 7.15 6.46 26 7.24 7.13 6.42 27 7.21 7.10 6.38 I 28 7.17 7.07 6.17 29 7.15 7.04 6.16 30 7.08 7.00 6.05 I 31 7.22 6.99 5.89 Annual Trends 32 7.26 6.94 6.06 33 7.56 6.88 6.05 7 34 7.47 6.86 6.21 I 35 7.41 6.85 6.31 7.60 - 36 7.35 6.86 6.24 37 7.41 6.81 6.16 7.40 - I 38 7.53 6.78 6.27 39 7.48 6.73 6.33 7.20 - 1990 40 7.56 6.64 6.27 I 41 7.48 6.66 6.29 7.00 - 42 7.43 6.67 6.34 6.80 - 1991 43 7.29 6.73 6.53 44 7.24 6.69 6.60 - ' 45 7.15 6.71 46 7.13 6.69 6.40 47 7.08 6.75 1992 I 48 7.06 6.78 6.20 - 49 7.05 6.80 50 7.11 6.71 6.00 - 51 7.14 6.66 52 7.09 6.58 5.80 I I I I I I 1 11 21 31 41 51 MINIMUM 7.03 6.58 5.89 6 16 26 36 46 MAXIMUM 7.56 7.19 6.79 I AVERAGE 7.27 6.92 6.47 Prepared by SPRINGSTED Incorporated