Municipal Advisor Rule

Municipal Advisor Rule under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010

By publicly posting the following written disclosure, The City of Saint Paul intends that market participants receive and use it for purposes of the independent registered municipal advisor exemption to the SEC Municipal Advisor Rule. The City of Saint Paul (the “City”) has retained an independent registered municipal advisor. The City is represented by and will rely on its municipal advisor, Springsted Inc., to provide advice on proposals from financial services firms concerning the issuance of municipal securities and municipal financial products including investments of bond proceeds and escrow investments. This certificate may be relied upon until December 31, 2018. Proposals and inquiries may be addressed to:

Todd Hurley, Director, Office of Financial Services

Michael Solomon, Treasurer

City of Saint Paul Office of Financial Services

15 W. Kellogg Blvd, 700 City Hall Saint Paul, Minnesota 55102

David MacGillivray, Chairman Springsted, Inc.

380 Jackson Street, Suite 300 Saint Paul, Minnesota 55101