Laserfiche WebLink
EXTRACT OF MINUTES OF A MEETING <br />OF THE CITY COUNCIL <br />CITY OF RAMSEY, MINNESOTA <br />Pursuant to due call and notice thereof, a regular or special meeting of the City Council <br />of the City of Ramsey, Anoka County, Minnesota, was duly called and held at the City Hall on <br />February 8, 2011, commencing at 7:00 P.M. <br />The following Members were present: <br />Mayor Ramsey <br />Councilmember Backous <br />Councilmember Elvig <br />Councilmember Jeffrey <br />Councilmember McGlone <br />Councilmember Tossey <br />Councilmember Wise <br />and the following were absent: <br />None <br />Councilmember Elvig introduced the following resolution and moved its adoption: <br />RESOLUTION #11 -02 -043 <br />RESOLUTION AUTHORIZING THE RELEASE OF UNIMPROVED LAND <br />WHEREAS, the City of Ramsey, Minnesota (the "City "), as Lessee, entered into that <br />certain Lease Agreement, dated as of June 1, 2005, with the Economic Development Authority <br />of the City of Ramsey, Minnesota (the "Authority "), as Lessor (the "Lease ") in connection with <br />the Authority's issuance of its $19,200,000 Public Project Lease Revenue Bonds (City of <br />Ramsey, Minnesota Lease Obligations), Series 2005A, dated June 1, 2005 (the "Bonds "). The <br />proceeds of the Bonds were issued to finance the acquisition, construction, and equipping of a <br />municipal center, consisting of a city hall, administration facilities, police facilities and related <br />parking facilities (the "Project "). The City leased the land on which the Project was constructed <br />to the Authority pursuant to a Ground Lease Agreement, dated as of June 1, 2005 (the "Ground <br />Lease "). The Authority leased the Project to the City pursuant to the Lease. <br />WHEREAS, the City is proposing to release from the Lease the unimproved land <br />described on Exhibit A attached hereto pursuant to Sections 8.6 and 8.7 of the Lease. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Ramsey, Minnesota, as follows: <br />1. The City hereby consents to and authorizes the release of the unimproved land <br />described on Exhibit A attached hereto. Exhibit A attached to the Ground Lease and the Lease, <br />after the release of the unimproved land, shall be described as set forth on Exhibit B attached <br />hereto. <br />3093966v1 <br />