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Commissioner <br /> <br />introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION #99-10- <br /> <br />RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED SALE OF <br />$I,665,000 PUBLIC FACILITY LEASE REVENUE BONDS,SERIES 1999A (CITY OF <br />RAMSEY, MINNESOTA LEASE OBLIGATION) <br /> <br /> A. WHEREAS, the Board of Commissioners of the Economic Development <br />Authority of the City of Ramsey, Minnesota (the "Authority"), has heretofore determined that it <br />is necessary and expedient to issue its $1,665,000 Public Facility Lease Revenue Bonds, Series <br />1999A (City of Ramsey, Minnesota Lease Obligation)(the "Bonds") to finance construction of a <br />fire station; and <br /> <br /> B. WHEREAS, the Authority has retained Springsted Incorporated, in Saint <br />Paul, Minnesota ("Springsted"), as its independent financial advisor and is therefore authorized <br />to sell these obligations by a competitive negotiated sale in accordance with Minnesota Statutes, <br />Section 475.60, Subdivision 2(9); and <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of <br />the Economic Development Authority of the City of Ramsey, Minnesota, as follows: <br /> <br /> 1. Authorization. The Board of Commissioners hereby authorizes Springsted <br />to solicit bids for the competitive negotiated sale of the Bonds. <br /> <br /> 2. Meeting; Bid Opening. This Board of Commissioners shall meet at the <br />time and place specified in the Terms of Proposal attached hereto as Exhibit A for the purpose of <br />considering sealed bids for, and awarding the sale of, the Bonds. The Secretary, or designee, <br />shall open bids at the time and place specified in such Terms of Proposal. <br /> <br /> 3. Terms of Proposal. The terms and conditions of the Bonds and the <br />negotiation thereof are fully set forth in the "Terms of Proposal" attached hereto as Exhibit A and <br />hereby approved and made a part hereof. <br /> <br /> 4. Official Statement. In connection with said competitive negotiated sale, <br />the Secretary and other officers or employees of the Authority are hereby authorized to cooperate <br />with Springsted and participate in the preparation of an official statement for the Bonds, and to <br />execute and deliver' it on behalf of the Authority upon its completion. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Commissioner <br /> and upon vote being taken thereon, the following voted in favor thereof: <br /> <br /> <br />