#11-08-148 - Laserfiche WebLink

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NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Ramsey, Minnesota, as follows: 1. Acceptance of Proposal. The offer of Northland Securities, Inc. (the "Purchaser "), to purchase the Bonds in accordance with the terms and the rates of interest hereinafter set forth, and to pay therefor the sum of $4,346,836.55, plus interest accrued to settlement, is hereby accepted. 2. Bond Terms. (a) Original Issue Date; Denominations; Maturities; Term Bond Option. The Bonds shall be dated September 1, 2011, as the date of original issue and shall be issued forthwith on or after such date in fully registered form, shall be numbered from R -1 upward in the denomination of $5,000 each or in any integral multiple thereof of a single maturity (the "Authorized Denominations ") and shall mature on February 1 in the years and amounts as follows: Year Amount Year Amount Year Amount 2013 $220,000 ' 2020 $365,000 2027 $105,000 2014 265,000 2021 370,000 2028 105,000 2015 270,000 2022 380,000 2029 110,000 2016 375,000 2023 90,000 2030 115,000 2017 345,000 2024 95,000 2031 120,000 2018 350,000 2025 100,000 2032 125,000 2019 360,000 2026 100,000 As may be requested by the Purchaser, one or more term Bonds may be issued having mandatory sinking fund redemption and final maturity amounts conforming to the foregoing principal repayment schedule, and corresponding additions may be made to the provisions of the applicable Bond(s). (b) Allocation. The aggregate principal amount of $1,730,000 maturing in each of the years and amounts hereinafter set forth are issued to finance the Public Improvements (the "Improvement Portion "); and the aggregate principal amount of $2,635,000 maturing in each of the years and amounts hereinafter set forth are issued to finance the State -Aid Improvements (the "State -Aid Portion "): 4057760v3 2