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Worden, Heather <br /> From: Worden, Heather <br /> Sent: Tuesday,July 15, 2014 8:39 AM <br /> To: Worden, Heather <br /> Subject: Pioneer House Refunding Revenue Bonds <br /> Attachments: betsey_aby.vcf <br /> Heather: <br /> All of the bond proceeds from the 1999 issue were used to construct the 48 unit assisted living facility. The bond <br /> proceeds from the 2010 issue were used (1)to refund the outstanding 1999 issue and (2)to renovate/remodel the <br /> existing facility and expand the therapy space. <br /> The request now is due to the interest rate on the refunding note will be much lower than the interest rate on the 2010 <br /> note. <br /> Thank you <br /> Betsey Aby, Partner <br /> Lindquist&Vennum LLP <br /> 4200 IDS Center <br /> 80 South 8th Street <br /> Minneapolis, MN 55402 <br /> 612/371-3535 <br /> 1 <br />