Agenda - Council - 12/10/2002 - Laserfiche WebLink

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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF RAMSEY, MINNESOTA HELD: December 10, 2002 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City ofRamsey, Anoka County, Minnesota, was duly held at the City Hail in said City on Tuesday, the 10th day of December, 2002, at __ o'clock __.M., for the purpose, in part, of authorizing the issuance of, and awarding the sale of, $295,000 General Obligation Capital Equipment Certificates of Indebtedness, Series 2002A of the City. The following members were present: and the follgwing were absent: Member its adoption: introduced the following resolution and moved RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $295,000 GENERAL OBLIGATION CAPITAL EQUIPMENT CERTIFICATES OF INDEBTEDNESS, SERIES 2002A, AND LEVYING A TAX FOR THE PAYMENT THEREOF A. WHEREAS, the City Council of the City of Ramsey, Minnesota (the "City"), has heretofore determined and declared that it is necessary and expedient to issue $295,000 ' General Obligation Capital Equipment Certificates of Indebtedness, Series 2002A (the "Certificates") of the City, pursuant to Minnesota Statutes, Chapter 475 and Minnesota Statutes, Section 412.301, for the purpose of providing money to finance the acquisition of certain capital equipment for the City (the "Equipment"); and B. WHEREAS, the Equipment has an expected useful life at least as long as the final maturity of the Certificates; and C. WHEREAS, the City has no outstanding certificates of indebtedness; and D. WHEREAS, the amount of the Certificates to be issued does not exceed one- quarter of one percent (0.25%) of the market value of the taxable property in the City; and E. WHEREAS, the Certificates are being sold pursuant to a private sale as permitted by Minnesota Statutes, Sections 412.301 and 475.60, Subdivision 2(1); and NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Ramsey, Minnesota, as follows: 1479060vl