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I <br />I <br />I <br />I <br />I <br />I <br />I. <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> I <br /> <br /> RESOLUTION ACCEPTING PROPOSAL ON THE <br /> COMPETITIVE NEGOTIATED SALE OF <br /> $1,680,000 GENERAL OBLIGATION TAXABLE <br /> TAX INCREMENT BoNDs, SERIES 200lA, <br /> PROVIDING FOR THEIR ISSUANCE AND <br />PLEDGING FOR THE SECURITY THEREOF TAX INCREMENTS <br /> <br /> A. W'HEREAS, the City Council of the City of Ramsey, Minnesota (the "City"), has <br />heretofore created Municipal Development District No. 1 (the "Development District") pursuant <br />to the provisions of Minnesota Statutes, Sections 469.124 through 469.I34, and has approved a <br />development program (the "Program") with respect to the Development District; and <br /> <br /> B. WHEREAS, the Council has also heretofore created Tax Increment Financing District <br />Nos. 2 and 8 as redevelopment districts within the Development District (together, the "Tax <br />Increment District") under the provisions of Minnesota Statutes, Sections 469.174 through <br />469.179 and has approved a tax increment financing plan (the "Plan") with respect to the Tax <br />Increment District; and <br /> <br /> C. WHEREAS, pursuant to the provisions of the Pro,am and Plan, funds are to be <br />expended within the Development District to provide money to finance land acquisition and site <br />improvement costs within the Development District, as set forth in the Plan (the 'tProject"); and <br /> <br /> D. WHEREAS, the City Council has heretofore determined that it is necessary and <br />expedient to issue $1,680,000 General Obligation Taxable Tax Increment Bonds, Series 200lB <br />(the "Bonds" or individually, a "Bond"), pursuant to Minnesota Statutes, Chapters 469 and 475, <br />to finance the Project; and <br /> <br /> E. WHEREAS, it is in the best interests of the City that the Bonds be issued in book- <br />entry form as hereinafter p~[.ovided; and <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Ramsey, <br />Minnesota, as follows: <br /> <br /> 1. Acceptance ofProp, osal. The proposal of <br />(the "Purchaser"), to purchase the Bonds in accordance with the Official Terms of Bond Sale, at <br />the rates of interest hereinafter set forth, and to pay therefor the sum ors , plus <br />interest accrued to settlement, is hereby found, determined and declared to be the most favorable <br />proposal received and is hereby accepted, and the Bonds are hereby awarded to the Purchaser. <br />The Administrator is directed to retain the deposit of the Purchaser and to forthwith return to the' <br />unsuccessful bidders their good faith checks or drafts. <br /> <br />1237035.l <br /> <br /> <br />