Loading...
HomeMy WebLinkAbout02 - Confirmations City Council and Administrators Entity Name City of Brooklyn Cente Closing Date December 31, 2008 Board Member Name/ Position on Term Member Employer/ Spouse Name December 31, 2008 Expires Spouse Employer Tim Willson Mayor 12/31/2010 Kay Lasman Councilmember 12/31/2008 Mary O'Connor Councilmember 12/31/2008 Dan Ryan Councilmember 12/31/2010 Mark Yelich Councilmember 12/31/2010 Administrator Name/ Admin Employer/ Spouse Name Title Spouse Employer Cornelius Boganey City Manager Scott Bechthold Chief of Police Steve Lillehaug Director of Public Works /City Engineer (present) Gary Eitel Director of Community Development Lee Gatlin Fire Chief Jim Glasoe Director of Community Activities, Recreation & Servi Dan Jordet Director of Fiscal and Support Services Be sure to use the correct spelling of each person's name and title as they will be included in the audit report based on the spelling on this worksheet. GF -5C 11/02 TO: All ADMINISTRATORS AND CITY COUNCIL MEMBERS FROM: Malloy, Montague, Karnowski, Radosevich & Co., P.A. 5353 Wayzata Boulevard, Suite 410 Minneapolis, MN 55416 DATE: February 5, 2009 SUBJECT: Auditors Compliance, M.S. 471.87 — Public Officers' Interest in contracts Per Minnesota Statute § 471.87, except as authorized in § 471.88, a public officer who is authorized to take part in any manner in making any sale, lease, or contract in official capacity shall not voluntarily have a personal financial interest, directly or through his or her spouse, in the sale, lease, contract, or personally benefit financially there from. To document compliance with this statute, we request that you complete the following: Name Councilmember Dan Ryan Principal place of business Spouse name Spouse principal place of business I hereby certify that during the 2008 fiscal year, I have not had a financial interest in the sale, lease, or contract with the City, nor have I personally benefited from any such transaction unless otherwise noted in the space provided below. Signature Title Date If you have had a financial interest in the sale, lease, or contract with the City, please describe below. ao , af BROOKLYN CENTER MEMORANDUM TO: Mayor, Councilmembers, and Department Heads FROM: Clara Hilger, Assistant Finance Director DATE: February 9, 2009 SUBJECT: Conflicts of Interest Statement Every year as part of the annual financial audit, our auditors require the Mayor, Councilmembers, and Department Heads to complete a Conflicts of Interest statement. This statement is required as a part of the legal compliance audit as directed by the State Auditor's Office. Please complete the enclosed statement with regards to activities conducted during the calendar year 2008. You may return it to the Finance department in the envelope provided, or if you prefer, you may mail this statement directly to our auditors at the following address: Malloy, Montague, Karnowski, Radosevich & Co., P.A. 5353 Wayzata Boulevard, Suite 410 Minneapolis, MN 55416 Thank you for your prompt attention to this matter. February 5, 2009 Mary M. Dyrseth Briggs and Morgan 2200 First National Bank Building St. Paul, Minnesota 55101 Dear Ms. Dyrseth, Our auditors, Malloy, Montague, Kamowski, Radosevich & Co., P.A., 5353 Wayzata Boulevard, Suite 410, Minneapolis, MN 55416 , are conducting an audit of our financial statements at December 31, 2008 and for the year then ended. Please furnish to them the information requested below involving matters with respect to which you have been engaged and to which you have devoted substantive attention on behalf of the City of Brooklyn Center in the form of legal consultation or representation. We do not intend either this request or your response to our auditor to constitute a waiver of the attorney - client privilege or the attorney work product privilege. Pending or Threatened Litigation, Claims, and Assessments (excluding unasserted claims and assessments) Please furnish our auditors a description of all material pending or threatened litigation, claims, and assessments (excluding unasserted claims and assessments). The description of each case should include: 1) the nature of the litigation; 2) the progress of the case to date; 3) how management of the City of Brooklyn Center is responding or intends to respond to the litigation; e.g., to contest the case vigorously or to seek an out -of -court settlement; and 4) an evaluation of the likelihood of an unfavorable outcome and an estimate, if one can be made, of the amount or range of potential loss. Also, please identify any pending or threatened litigation, claims, and assessments with respect to which you have been engaged but as to which you have not devoted substantive attention. Unasserted Claims and Assessments We understand that, whenever, in the course of performing legal services for us with respect to a matter recognized to involve an unasserted possible claim or assessment that may call for financial statement disclosure, if you have formed a professional conclusion that we should disclose or consider disclosure concerning such possible claim or assessment, as a matter of professional responsibility to us, you will so advise us and will consult with us concerning the question of such disclosure and the applicable requirements of Statement of Financial Accounting Standards No. 5 (excerpts of which can be found in the ABA's Auditor's Letter Handbook). Please specifically confirm to our auditors that our understanding is correct. We have represented to our auditors that there are no unasserted possible claims or assessments that you have advised us are probable of assertion and must be disclosed in accordance with Statement of Financial Accounting Standards No. 5. Briggs and Morgan February 5, 2009 Page 2 Response Your response should include matters that existed as of December 31, 2008 and during the period from that date to the effective date of your response. Please specify the date of your response if it is other than the date of reply. Please specifically identify the nature of, and reasons for, any limitations on your response. Our auditors would appreciate receiving your reply by April 1, 2009 with a specified effective date as close as feasible to that date. Sincerely, Clara Hilger Assistant Finance Director City of Brooklyn Center, Minnesota February 5, 2009 William G. Clelland Carson, Clelland & Schreder 6300 Shingle Creek Parkway, Suite 305 Brooklyn Center, Minnesota 55430 Dear Mr. Clelland, Our auditors, Malloy, Montague, Kamowski, Radosevich & Co., P.A., 5353 Wayzata Boulevard, Suite 410, Minneapolis, MN 55416 , are conducting an audit of our financial statements at December 31, 2008 and for the year then ended. Please furnish to them the information requested below involving matters with respect to which you have been engaged and to which you have devoted substantive attention on behalf of the City of Brooklyn Center in the form of legal consultation or representation. We do not intend either this request or your response to our auditor to constitute a waiver of the attorney - client privilege or the attorney work product privilege. Pending or Threatened Litigation, Claims, and Assessments (excluding unasserted claims and assessments) Please furnish our auditors a description of all material pending or threatened litigation, claims, and assessments (excluding unasserted claims and assessments). The description of each case should include: 1) the nature of the litigation; 2) the progress of the case to date; 3) how management of the City of Brooklyn Center is responding or intends to respond to the litigation; e.g., to contest the case vigorously or to seek an out -of -court settlement; and 4) an evaluation of the likelihood of an unfavorable outcome and an estimate, if one can be made, of the amount or range of potential loss. Also, please identify any pending or threatened litigation, claims, and assessments with respect to which you have been engaged but as to which you have not devoted substantive attention. Unasserted Claims and Assessments We understand that, whenever, in the course of performing legal services for us with respect to a matter recognized to involve an unasserted possible claim or assessment that may call for financial statement disclosure, if you have formed a professional conclusion that we should disclose or consider disclosure concerning such possible claim or assessment, as a matter of professional responsibility to us, you will so advise us and will consult with us concerning the question of such disclosure and the applicable requirements of Statement of Financial Accounting Standards No. 5 (excerpts of which can be found in the ABA's Auditor's Letter Handbook). Please specifically confirm to our auditors that our understanding is correct. We have represented to our auditors that there are no unasserted possible claims or assessments that you have advised us are probable of assertion and must be disclosed in accordance with Statement of Financial Accounting Standards No. 5. Carson, Clelland & Schreder February 5, 2009 Page 2 Response Your response should include matters that existed as of December 312008, and during the period from that date to the effective date of your response. Please specify the date of your response if it is other than the date of reply. Please specifically identify the nature of, and reasons for, any limitations on your response. Our auditors would appreciate receiving your reply by April 1, 2009 with a specified effective date as close as feasible to that date. Sincerely, Clara Hilger Assistant Finance Director City of Brooklyn Center, Minnesota February 5, 2009 Mr. Charles LeFevre Kennedy & Graven, Chartered 470 U.S. Bank Plaza 200 South Sixth Street Minneapolis, MN 55402 Dear Mr. LeFevre, Our auditors, Malloy, Montague, Kamowski, Radosevich & Co., P.A., 5353 Wayzata Boulevard, Suite 410, Minneapolis, MN 55416 , are conducting an audit of our financial statements at December 31, 2008 and for the year then ended. Please furnish to them the information requested below involving matters with respect to which you have been engaged and to which you have devoted substantive attention on behalf of the City of Brooklyn Center in the form of legal consultation or representation. We do not intend either this request or your response to our auditor to constitute a waiver of the attorney - client privilege or the attorney work product privilege. Pending or Threatened Litigation, Claims, and Assessments (excluding unasserted claims and assessments) Please furnish our auditors a description of all material pending or threatened litigation, claims, and assessments (excluding unasserted claims and assessments). The description of each case should include: 1) the nature of the litigation; 2) the progress of the case to date; 3) how management of the City of Brooklyn Center is responding or intends to respond to the litigation; e.g., to contest the case vigorously or to seek an out -of -court settlement; and 4) an evaluation of the likelihood of an unfavorable outcome and an estimate, if one can be made, of the amount or range of potential loss. Also, please identify any pending or threatened litigation, claims, and assessments with respect to which you have been engaged but as to which you have not devoted substantive attention. Unasserted Claims and Assessments We understand that, whenever, in the course of performing legal services for us with respect to a matter recognized to involve an unasserted possible claim or assessment that may call for financial statement disclosure, if you have formed a professional conclusion that we should disclose or consider disclosure concerning such possible claim or assessment, as a matter of professional responsibility to us, you will so advise us and will consult with us concerning the question of such disclosure and the applicable requirements of Statement of Financial Accounting Standards No. 5 (excerpts of which can be found in the ABA's Auditor's Letter Handbook). Please specifically confirm to our auditors that our understanding is correct. We have represented to our auditors that there are no unasserted possible claims or assessments that you have advised us are probable of assertion and must be disclosed in accordance with Statement of Financial Accounting Standards No. 5. Kennedy & Graven, Chartered February 5, 2009 Page 2 Response Your response should include matters that existed as of December 312008, and during the period from that date to the effective date of your response. Please specify the date of your response if it is other than the date of reply. Please specifically identify the nature of, and reasons for, any limitations on your response. Our auditors would appreciate receiving your reply by April 1, 2009 with a specified effective date as close as feasible to that date. Sincerely, Clara Hilger Assistant Finance Director City of Brooklyn Center, Minnesota Kennedy Offices in 470 U.S. Bank Plaza 200 South Sixth Street Minneapolis Minneapolis, MN 55402 G ' Saint Paul (612) 337 -9300 telephone raven (612) 337 -9310 fax St. Cloud http: / /www.kennedy- graven.com C H A R T E R E D Affirmative Action, Equal Opportunity Employer CHARLES L. LEFEVERE Attorney at Law i Direct Dial (612) 337 -9215 email: clefevere @kennedy- graven.com April 30, 2009 Malloy Montague Karnowski Radosevich & Co. PA Certified Public Accountants 5353 Wayzata Blvd., Suite 410 Minneapolis, MN 55416 -9962 RE: City of Brooklyn Center Dear Sir or Madam: The City of Brooklyn Center (hereinafter referred to as the "City ") has requested us to furnish you certain information in connection with your examination of the accounts of the City as of December 31, 2008, and as of the date of this letter. I We call your attention to the fact that while this firm represents the City regularly, our engagement by it during the past year has been limited to specific matters as to which we were consulted by the City. There may exist matters of a legal nature which could have a bearing on the City's financial condition with respect to which we have not been consulted. Our response is directed only to matters that have been given substantive attention by us in the form of legal consultation and, where appropriate, legal representation, since January 1, 2008. These are matters which we have recognized as loss contingencies falling within the scope of material pending or threatened litigation, claims and assessments and unasserted claims or assessments considered to be probable of assertion that, if asserted, would have at least a reasonable possibility of an unfavorable outcome and as described in this letter. For purposes of this letter, we have assumed that pending or threatened litigation is not material if the alleged damages are less than $50,000, no monetary damages are alleged, or the matter has been accepted as covered by the City's insurance carrier. In the preparation of this response, our procedures have been limited to an endeavor to determine from lawyers presently in our firm who have performed services for the City since January 1, 2008, whether such services involve substantive attention in the form of legal consultation concerning any such loss contingencies of the types referred to above and described below in this letter. i I 349372v1 CLL BR291 -59 Malloy Montague Audit Letter April 30, 2009 Page 2 Accordingly, it is to be noted that we have made no independent review of the City's transactions or contractual arrangements for purposes of this response. Subject to the foregoing and to the last paragraph of this letter, we advise you that since January 1, 2008, we have not been engaged to give substantive attention to, or represent the City in connection with, loss contingencies referred to above and described below that come within the scope of clause (a) of paragraph 5 of the Statement of Policy referred to in the last paragraph of this letter. Unless requested to comment upon a specified, contractually assumed obligation, or upon a specified, unasserted possible claim or assessment that does not meet the definitions contained herein, we are not undertaking to comment upon loss contingencies of such type, as we understand that you can satisfy yourself with respect thereto through other audit procedures. The information set forth herein is as of the date of this letter, except as otherwise noted, and we disclaim any undertaking to advise you of changes that thereafter may be brought to our attention. As of the close of business on December 31, 2008, the City was indebted to our firm for legal fees and disbursements of $5,266.36; additionally, the City had incurred indebtedness for services and disbursements that were accrued but unbilled as of that date of $3,376.98. This response is limited by, and in accordance with, the ABA Statement of Policy Regarding Lawyers' Responses to Auditors' Requests for Information. Without limiting the generality of the foregoing, the limitations set forth in such Statement on the scope and use of this response (paragraphs 2 and 7) are specifically incorporated herein by reference, and any descriptions herein of any "loss contingencies" is qualified in its entirety by paragraph 5 of the Statement and the accompanying Commentary (which is an integral part of the Statement). Consistent with the last sentence of paragraph 6 of the ABA Statement of Policy, and pursuant to the City's request, this will confirm as correct the City's understanding as set forth in its audit inquiry letter to us that whenever, in the course of performing legal services for the City with respect to a matter recognized to involve an unasserted possible claim or assessment which may call for financial statement and disclosure, we have formed the professional conclusion that the City should disclose or consider disclosing such possible claim or assessment we, as a matter of professional responsibility to the City, will so advise the City and will consult with the City concerning the question of such disclosure and the application requirements of Statement of Financial Accounting Standards No. 5. Very truly yours, Charles L. LeFevere CLL:peb cc: Mr. Curt Boganey Mr. Dan Jordet 349372v1 CLLBR291 -59 BRIGGS 33 2 First National Bank Building 332 Mi nnesota Street St. Paul MN 55101 -1396 A N o NIIIIIIIIIIIIII tel 651.808.6600 fax 651.808.6450 April 1, 2009 Malloy, Montague, Karnowski, Radosevich & Co., P.A. 5353 Wayzata Boulevard Suite 410 Minneapolis, MN 55416 Re: City of Brooklyn Center, Minnesota By letter dated February 8, 2009, Clara Hilger, the Assistant Finance Director of the City of Brooklyn Center has requested that we furnish you with certain information in connection with your examination of the financial statements of the City at and for the year ended December 31, 2008. By making the request set forth in its letter to us, the City does not intend to waive the attorney-client privilege with respect to any information that the City has furnished to us. Moreover, please be advised that our response to you should not be construed in any way to constitute a waiver of the protection of the attorney work - product privilege with respect to any of our files involving the City. Although this Firm has during the past year represented the City as bond counsel and in connection with certain condemnation matters, there may exist matters of a legal nature that could have a bearing on the City's financial condition with respect to which we have not been consulted, Furthermore, this letter does not necessarily discuss any or all matters of a legal nature of which we may have become aware but that have not been referred to us for legal representation of the City. Subject to the foregoing and to the penultimate paragraph of this letter, we advise you that, since January 1, 2008, we have not been engaged to give substantive attention to, or represent the City in connection with, material loss contingencies existing at January 1, 2008, or at any time during the period from that date to December 31, 2008, and coming within the scope of clause (a) of Paragraph 5 of the ABA Statement of Policy Regarding Lawyers' Responses to Auditors' Requests for Information, and the related commentary (December 1975) (together the "ABA Statement"). Briggs and Morgan, professional Association 2320988v1 Minneapolis I St. Paul I www.briggs.com Member- Lex Mundi, a Global Association of Independent Law Firms BRIGGS AND MORGAN Malloy, Montague, Karnowski, Radosevich & Co., P.A. j April 1, 2009 Page 2 There being no matters specifically identified in the City's letter and upon which comment has been specifically requested, as contemplated by clauses (b) and (c) of Paragraph 5 of the ABA Statement, we are not commenting to you with respect to contractually assumed obligations and /or unasserted possible claims or assessments, or any representations of the City with respect thereto in its letter, except to the extent set forth in the penultimate paragraph of this letter. The information set forth herein is as of April 1, 2009, the date on which we commenced our internal review procedures for purposes of preparing this response, except as otherwise noted, and we disclaim any undertaking to advise you of changes that thereafter may be brought to our attention. This response is further limited to inquiry of the appropriate lawyers and legal assistants with our Firm as of that date. We disclaim responsibility to comment on any matters j to which any lawyer who is not presently with our Firm may have given substantive attention while with our Firm or any matters to which any lawyer who is presently with our Firm may have given substantive attention prior to joining our Firm but to which substantive attention has not been given after such lawyer became a member of our Firm. If any lawyer affiliated with our Firm serves or has served as a director and /or officer of the City (or any affiliate of the City), our Firm does not assume responsibility for disclosing any matters that may have come to his or her attention in such capacity. This response is limited by, and is in accordance with, the ABA Statement. Without limiting the generality of the foregoing, the limitations set forth in the ABA Statement on the scope and use of this response (Paragraphs 2 and 7) are specifically incorporated herein by reference, and any description herein of any "loss contingencies" is qualified in its entirety by Paragraph 5 of the ABA Statement. Consistent with the last sentence of Paragraph 6 of the ABA Statement and pursuant to the City's request, this will confirm as correct the City's understanding as set forth in its audit inquiry to us that whenever, in the course of performing legal services for the City with respect to a matter recognized to involve an unasserted possible claim or assessment that may call for financial statement disclosure, we have formed a professional conclusion that the City must disclose or consider disclosure concerning such possible claim or assessment, it is our policy so to advise the City and consult with the City concerning the City's legal obligation to make disclosure. We are not experts with respect to accounting standards; and we would not expect the City to rely upon us to interpret those that control the instances when, and the manner in which, financial statement disclosure must be made. As noted above, please recall that during the past year this Firm represented the City only in connection with certain economic development and public finance matters. In view of the limited extent to which we represented the City, and our lack of familiarity with the City's affairs and the requirements for financial statement disclosures applicable to the City, it is unlikely that we would form any professional conclusions concerning such disclosures. 2320988v1 I I i i BRIGGS AND M O R G A N Malloy, Montague, Karnowski, Radosevich & Co., P.A. April 1, 2009 Page 3 This letter is solely for your information in connection with your audit of the financial statements of the City as at December 31, 2008, and is not to be quoted in whole or part or otherwise referred to in any financial statements of the City or related document, nor is it to be filed with any governmental agency or other person, without the prior written consent of this Firm. Very truly yo s, Briggs and Morgan, P.A. % Xc: Clara Hilger 2320988vi CARSON, GLELLAND & SCHREDER ATTORNEYS AT I.AW PROFESSIONAL LIMITED LIABILITY PARTNERSHIP JEFFREY A. CARSON 6300 SHINGLE CREEK PARKWAY, SUITE 305 TELEPHONE WILLIAM G. CLELLAND (763) 561 -2800 ELLEN M. SCHREDER MINNEAPOLIS, MINNESOTA 55430-2190 FAX DAVID K. ROSS (763) 561 -1943 DAWN E. SPELTZ - JOHN J. THAMES 16 February 2009 Malloy, Montague, Karnowski, Radosevich & Co., P.A. Wayzata Boulevard, Suite 410 Minneapolis, Minnesota 55416 RE: City of Brooklyn Center Dear Sir, Clara Hilger, Assistant Finance Director of the City of Brooklyn Center, has asked me to identify any pending or threatened litigation or claims for calendar year 2008. The only matter of which I am aware is a conciliation court lawsuit brought pro se by DeMarcus Brown. I charged Brown with a misdemeanor offense of renting without a rental license. Subsequently, during the prosecution, we concluded we could not prove that the property was rented because, even though there was circumstantial evidence of tenancy, he claim it was simply a matter of his girlfriend tending to the home and he had evicted other tenants. We believed there was sufficient probable cause to commence these criminal proceedings, based upon the information provided us by the City but, ultimately, not proof beyond a reasonable doubt. Brown sued the City for the maximum amount of $7,500. Apparently, he claims only several hundred dollars in lost wages but wants significant punitive damages. Minnesota law and procedure does not permit one to plead a claim for punitive damages, absent a special showing of the basis of these damages to the court and approval of the court. He made no such motion and received no such permission. This matter has been tendered to the League of Minnesota Cities for coverage and defense. I have furnished my file to defense counsel and conferred with him by telephone. I am satisfied they are defending the City well. I also believe there is no liability to the City and, in any event, if there were, the claim is only several hundred dollars at most. Please contact me if you need further information. Malloy, 16 February 2009 p. 2. Sincerely, O C L N S HREDER 1 in e Ian `�--- Prosecuting Attorney City of Brooklyn Center cc Clara Hilger February 5, 2009 Paula Cooper 4M Fund 27545 Diehl Road, Suite 100 Warrenville, IL 60555 Ms. Cooper: Please confirm directly to our independent auditors, Malloy, Montague, Karnowski, Radosevich & Co., P.A., 5353 Wayzata Boulevard, Suite 410, Minneapolis, MN 55416, information as of December 31, 2008, on securities held in account number 35026 -101, 4M and 4M Plus. We ask that you confirm all of the following information to our auditors: 1. A complete list of our securities (including securities underlying repurchase agreements) in your possession, including: a. Description b. The name in which certificate or instrument is registered. * If securities are not registered in the City's name, how are the City's rights to the security established? c. Principal amount. d. Market value at December 31, 2008. e. Where the securities are held. * If held at Federal Reserve or Depository Trust Company, in whose account? Is this a separate custodial account? How are the City's rights to the securities established? f Description of insurance coverage, if any, for the City's securities. 2. Credit rating on all investments. 3. Maturity date on all investments. 4. Securities out for transfer in our name. 5. Persons authorized to withdraw securities. 6. Amounts due to you. Your prompt attention to this request will be appreciated. A stamped, self - addressed envelope is enclosed for your reply. Sincerely, Clara Hilger Assistant Finance Director February 5, 2009 Mr. Darcy Kent Wells Fargo ITS Minnesota MAC N9303 -08B 608 Second Ave South Minneapolis, MN 55479 Mr. Kent: Please confirm directly to our independent auditors, Malloy, Montague, Karnowski, Radosevich & Co., P.A., 5353 Wayzata Boulevard, Suite 410, Minneapolis, MN 55416, information as of December 31, 2008, on securities held in account number 13455300. We ask that you confirm all of the following information to our auditors: 1. A complete list of our securities (including securities underlying repurchase agreements) in your possession, including: a. Description b. The name in which certificate or instrument is registered. * If securities are not registered in the City's name, how are the City's rights to the security established? c. Principal amount. d. Market value at December 31, 2008. e. Where the securities are held. * If held at Federal Reserve or Depository Trust Company, in whose account? Is this a separate custodial account? How are the City's rights to the securities established? f Description of insurance coverage, if any, for the City's securities. 2. Credit rating on all investments. 3. Maturity date on all investments. 4. Securities out for transfer in our name. 5. Persons authorized to withdraw securities. 6. Amounts due to you. Your prompt attention to this request will be appreciated. A stamped, self - addressed envelope is enclosed for your reply. Sincerely, Clara Hilger Assistant Finance Director February 5, 2009 Wells Fargo Bank N.A. Public Funds Administration MAC: A0119 -173 333 Market Street, 17th Floor San Francisco, CA 94105 RE: Collateral Pledged to the City of Brooklyn Center, Minnesota Our auditors, Malloy, Montague, Karnowski, Radosevich & Co., P.A., 5353 Wayzata Boulevard, Suite 410, Minneapolis, MN 55416, are now engaged in an examination of our financial statements. In connection therewith, please provide directly to them the amount of securities pledged in accordance with applicable state law to cover balances on deposit at June 30, 2008 and December 31, 2008, credited to City of Brooklyn Center and attest to the adequacy of pledged securities during the City's fiscal year by signing the statement below. The securities pledged can be listed on the following page. 1. Was the collateral pledged one of the instruments allowable under Minnesota Statutes § I I8A.03, Subd. 2? 2. Is each security assigned to the City in the City's name or bank's name? a. Was the assignment approved by your institution's Board of Directors or Loan Committee? b. Was the assignment an official record of your institution? c. Did the assignment provide that, upon default, your institution shall release the collateral pledged to the City on demand? 3. Is the security held in safekeeping and where? 4. The market value of each security at June 30, 2008 and December 31, 2008. A stamped, self - addressed envelope is enclosed for your convenience. Sincerely, Clara Hilger Assistant Finance Director Wells Fargo Bank N.A. February 5, 2009 Page 2 In total, securities pledged, combined with federal insurance, were adequate in amount to cover deposits of the City during the year ended December 31, 2008, as required by state law. Signed: By: Date: Securities Pledged: Security Maturity Original Market CUSIP Description Rate Date Face Value June 30, 2008: December 31, 2008: Please provide explanations, if necessary: January 8, 2009 Taxpayer Services — Settlements Hennepin County Government Center 300 S. Sixth St., A -600 Minneapolis, MN 55487 -0060 In connection with the audit of our accounts, will you please provide the following information as of December 31, 2008: Report Contains the following information 2002 through 2008 Tax receivable ledger summary, for each year 2002 through 2008 S06RP01 Dollar amount: Settlement ad valorem & special assessments Table X Tax levies extended, rates S02RP02 Increment finance settlement report S10RP01 Tax increment percentages P1424201 Delinquent Tax Increment Report Market/Tax Capacity Values Final values and tax capacity values for taxes payable 2008 PIDK48YE Deferred special assessments PIDK46YE Delinquent special assessments P1373901 Prepayments (after all prepayments have been posted, please) P1373101 New special assessments P1423801 Special assessments delinquent receivable run in 2009 P1375401 Specials by municipality, levy and project Please contact me at 763- 569 -3352 if you have any questions. Please use the delivery method that is most convenient for you. You may e -mail this information to me at chilger @ci.brooklyn - center.mn.us, fax to 763- 569 -3337 or mail to 6301 Shingle Creek Pkwy, Brooklyn Center, MN 55430. Thank you for your help, it is greatly appreciated. Sincerely, Clara Hilger Assistant Finance Director