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EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br /> RAMSEY, MINNESOTA <br /> <br />HELD: December 19, 2000 <br /> <br /> Pursuant to due call, a regular meeting of the City Council of the City of Ramsey, Anoka <br />County, Minnesota, was duly held at the City Hall on Tuesday, December 19, 2000, at 7:00 <br />P.M., for the purpose, in part, of considering proposals for, and awarding the competitive <br />negotiated sale o f, $920,000 General Obligation Tax Increment Bonds, Series 200lB. <br /> <br />The following members were present: <br /> <br />and the following were absent: <br /> <br /> The City Administrator presented proposals on $920,000 General Obligation Tax <br />Increment Bonds, Series 200lB, for which proposals were to be received, opened and tabulated <br />by the City Administrator, or desi~m2ee, this same day, in accordance with the resolution adopted <br />by the City Council on November 28, 2000. <br /> <br /> The following proposals were received, opened and tabulated at 11:00 A.M., at the <br />offices of Juran & Moody, a division of Miller Johnson Steichen Kinnard, Inc., in the presence of <br />the City Administrator, or his designee, on this same day: <br /> <br />Bidder Interest Rate Net Interest Cost <br /> <br /> (See attached) <br /> <br /> The Council then proceeded to consider and discuss the proposals, after which member <br /> introduced the following resolution and moved .its adoption: <br /> <br /> RESOLUTION ACCEPTING PROPOSAL ON THE <br />COMPETITIVE NEGOTIATED SALE OF <br />$920,000 GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 200lB, <br />PROVIDING FOR THEIR ISSUANCE AND <br /> PLEDGING FOR THE SECURITY THEREOF TAX INCREMENTS <br /> <br /> A. WHEREAS, 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 /> <br />1237483.1 <br /> <br /> <br />