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Recommendations for <br /> <br /> City of Ramsey, Minnesota <br /> $2,600,000 <br /> General Obligation Tax Increment Bonds, Series t995A <br /> <br /> EXECUTIVE SUMMARY <br /> <br />This ~ummary is intended to highlight data contained in these recommendations, it is intended <br />to b~ an adjunct to the recommendations and not to be used solely as the basis of <br />dete~ination of actions required. Your actions should be based on the information more fully <br />set forth in the recommendations. <br /> <br />1. Action Requested To establish the date and time of receiving <br />:~ bids and establish the terms and conditions <br />~ of the Offering. <br />2. ~ Type and Purpose of Offering Proceeds of the issue will be used to finance <br />i~ various public improvements within the City's <br />~ Development District No. 1. <br />3. ii Principal Amount of Offering $2,600,000 <br /> <br />4.~ ~ Repayment Term February 1, 1996 through 2010. , <br />5. ~ Source of Debt Service Revenues Tax increment revenues from the City s Tax <br />!:~ 4.Increment Financing Districts Nos. 1, 2 and <br /> <br />6. ~ Optional Redemption The City may elect on February 1, 2005, and <br />~ on any date thereafter, to prepay bonds due <br />~ on or after February 1, 2008 at a price of par <br />~ plus accrued interest. <br /> <br />7. ? Credit Rating Comments Moody's rating recommended. The City is <br /> ~ currently rated "Al ." _. <br /> <br />8. ~ Sale Date and Time Tuesday, March 21, 1995, 11:00 A.M. <br />9.:~ Award Date and Time Tuesday, March 21, 1995, 7:00 P.M. <br /> <br /> <br />