Financial issues and bond ratings are Minneapolis issues. Therefore, I hope that the List Manager will permit the following cautionary tale about Indianapolis excerpted from a recent issue of The Bond Buyer: "Citing shortfalls in the city budget and in the police and firefighter pension fund, Moody's Investors Service has assigned a negative outlook to Indianapolis' precious Aaa general obligation bond rating. . . . The Moody's report noted that Indianapolis had a $16 million deficit in its 2001 budget and a $13 million shortfall in its police and fire pension fund. the city will make up its budget deficit from its reserve fund. [A Moody's analyst] said future credit quality could be undermined by further reserve draw-downs after 2001. . . ." On the (much) brighter side Moody's has assigned a Aaa rating to our series 2000 ($8.88 million) general obligation convention center and judgment bonds. Barret W. S. Lane City of Minneapolis Council Member -- Ward 13 Minority Leader 307 South Fifth Street Minneapolis, MN 55415-1383 Voice: (612) 673-2213 Fax: (612) 673-3940 E-Mail: [EMAIL PROTECTED]
