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E. WHEREAS, the Certificates are bein~ sold pursuant <br />to a private sale as permitted by Minnesota Statutes, Sections <br />412.301 and 475.60, Subdivision 2(1); and <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the <br />City of Ramsey, Minnesota, as follows: <br /> <br /> 1. Ac~eptaD~ of.~Off~. The offer of Northland <br />Security Bank (the "Purchaser"), to purchase the Certificates of <br />the City (or individually, a "Certificate"), in accordance with <br />the tetras established therefor and at the rates of interest <br />hereinafter set forth, and to pay therefor the sum of par, plus <br />interest accrued to settlement, is hereby accepted. <br /> <br /> 2. ~i~.le~_Origknal Issue Dat.e~ DenominatiQns;. <br />~aDurities_. The Certificates shall be ti~led "General Obligation <br />Capital Equipment Certificates of ~ndebtedness, Series 2000A", <br />shall be dated March 21, 2000, as the daze of original issue and <br />shall be issued forthwith on or after such date as fully <br />registered certificates. The Certificates shall be nur0bered from <br />R-1 upward in the denomination of $1,000 each or in any integral <br />multiple thereof of a single maturity. The Certificates shall <br />mature on January 1 in the years and amounts as follows: <br /> <br />year Amoun__~t <br /> <br />2001 $61,000 2003 $65,000 <br />2002 62,000 2004 69,000 <br /> <br /> 3. PurpDs~. The Certificates shall provide funds for <br />the Equipment. The total cost of the Equipment, which shall <br />include all costs enumerated in Minnesota Statutes, Section <br />475.65, is estimated Eo be at least equal to the amount of the <br />Certificates herein authorized. <br /> <br /> 4. ~$D.r~s~. The Certificates shall bear interest <br />payable semiannually on January 1 and July 1 of each year (each, <br />an "Interest Paymen~ Date"), commencin~ January 1, 2001, <br />calculated on the basis of a 360-day year of twel%~: 30-day <br />months, at the respective fanes per ~nnu~ set forth opposite the <br />maturity years as follows: <br /> <br />Maturity Interest Maturity Interest <br />ye.ar ~ _Rate . ~ _.Rats.. <br /> <br />2001 5.25% 2003 5.25% <br />2002 5.25 2004 5.25 <br /> <br /> 5. ~edemp~io~. All Certificates shall be subjec~ to <br />redemption and prepayment az the option of the City on any date <br />at a price of par plus accrued interest. Redemption may be in <br />whole or in part. If redemption is in part, the maturities and <br /> <br /> <br />