HomeMy WebLinkAboutA001 - Letter from Evensen Dodge dated December 18, 1992 EVENSEN DODGE INC ID : DEC 18 '92 15 :23 No .001 P .02
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Suite 430
EVENSEN DODGE INC 30
I t .. n r. i' I ♦ f ( ( n i I I I n N 1 N Co,,.Mesa CA 9247f
L.� 71454S-1712 800f32bD,71
DecembeI 18, 1992 71ttss7-9126 Fre=
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p - 4l Mon(&c Cry Sfrcct
DEC` 8i Q `i $ulro SOO
Ms. Alice Carroll set,rr•nct.co CA 94IDA
Finance Director C1ZY CLEFlK- "' 415/95S 2L75
Cl Of Allies LL02TY Of AMES, iQNq a
U5195>-7L1G Pe:
515 Clark Avenue
Ames,IA 50010
25S C4wth Onnsc Avenue
Dear Alice: suite sus
We are recommending for the City's General Obligation 4(17,P41.0757 8xl(67AJ=
Refunding Bonds, Series 1993 that the sale date remain flexible 40718727126114=
and be determined upon 48 hour notice to potential bidders via the
Munifacts wire. The notice to potential bidders will be given after 1W Court Mor(uc
consultation with the City of the expected savings level. This type wirzls
of sale is similar to your competitive sales in the past. The official Sate 21S F�sollw
statement will be mailed to potential bidders approximately two 515 Moir s
weeks before the earliest potential sale date. 51512R7,0252 re[
The benefits to this type of sale to the City are:
17370 Nurtl,I Aursl Part Dlivc
1) Daily monitoring of market conditions to determine Suite 4ani
approximate savings level 1S+ania Mt 48152
2) Greater flexibility and speed to enter tax-exempt 113,S91-400 600 M-2W
market 3131591.4554 rai
3 Reduced change of cancelling sale
4 Reduced possibility of rejecting bids 1951 P...Buena vi>la
We recommend this type of sale for refunding issues because of a Springricld MG 65P S
.1277
refunding bond issue's sensitivity to interest rates (both tax-exempt 4l741,(iPR77 791G,as
for bonds and taxable rates for escrow securities). This of sale
has no impact on potential bidders as they are given sufficient time
e(i.e. 48 hours) to prepare their bid for the refunding bonds. As 1726Pni(lcI M
mentioned in items #3 and #4 above, this tfpe of flexible sale date Fargo NL)S8103
actually provides a benefit for the potential bidders by allowing WWI-DS.4416 &W2&P200
them to concentrate on other bond sales. 701l139.4-WPax
Sincerely, 379 Pcdenl Circle
D[I4War5
EVENSEN DODGE,INC.
61u3�3 ss77 4.�15
77 aav6214791b
614/1G3-4.`,S7FA.
Wayne S. Burggraaff 7u1 btdr„t
Senior Vice President Suite SW
and Principal AuYin7'X 78701
517/32119047 600/264456 2
S1L32(11 19 Pax.
222 South Ninth Strcct,Suite 3800
Minneapolis,MN 55402
6121,318-3535 8001128-8200
l'-nx 6121338-7264
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