Laserfiche WebLink
Commissioner Ramsey introduced the following resolution and <br />moved its adoption: <br />EXTRACT OF MINUTES OF A MEETING OF THE BOARD OF <br />COMMISSIONERS OF THE HOUSING AND REDEVELOPMENT AUTHORITY <br />IN AND FOR THE CITY OF RAMSEY, MINNESOTA <br />HELD: April 24 , 2012 <br />Pursuant to due call and notice thereof, a regular or special meeting of the Board <br />of Commissioners of The Housing and Redevelopment Authority in and for the City of Ramsey, <br />Minnesota, was duly held at the Ramsey Municipal Ctron April 24, 2012, at 8:46 <br />o'clock P.M. <br />The following commissioners were present: <br />Chairperson McGlone, Commissioners Backous,Elvig, Ramsey, Strommen, Tossey & Wise <br />and the following were absent: <br />None <br />4591075v1 <br />RESOLUTION NO. HRA 12 - 04 - 006 <br />RESOLUTION AUTHORIZING EXECUTION <br />OF A PLEDGE AGREEMENT <br />A. WHEREAS, the City Council of the City of Ramsey, Minnesota (the "City "), has <br />on April 24, 2012 adopted a Resolution Accepting Proposal on sale of $7,420,000 Taxable <br />General Obligation Tax Increment Bonds, Series 2012B, providing for their issuance, pledging <br />tax increments for the security thereof and authorizing execution of a tax increment pledge <br />agreement; and <br />B. WHEREAS, to provide additional security for the payment of the Bonds it is <br />necessary that The Housing and Redevelopment Authority in and for the City of Ramsey, <br />Minnesota (the "Authority "), execute the Pledge Agreement as provided herein. <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of The <br />Housing and Redevelopment Authority in and for the City of Ramsey, Minnesota, as follows: <br />The Pledge Agreement on file in the office of the City Administrator is hereby approved <br />in substantially the form submitted and the Chair and Executive Secretary of the Authority are <br />authorized and directed to execute the same (and such other agreements and documents as may <br />be required in connection therewith) on behalf of the Authority. The approval hereby given to <br />the document referred to above includes approval of such additional details therein as may be <br />necessary and appropriate and such modifications thereof, deletions therefrom and additions <br />thereto as may be necessary and appropriate and approved by the City Attorney and by the <br />Authority officials authorized herein to execute or accept, as the case may be, said document <br />