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CITY COUNCIL <br /> PUBLIC HEARING <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br /> <br />The Ramsey City Council conducted a public hearing on June 12, 1990 at the Ramsey <br />Municipal Center, 15153 Nowthen Boulevard N.W., Ramsey, Minnesota, regarding <br />industrial development project and issuance of revenue bonds by the City on behalf of <br />Ramsey Investments and ParaBody, Inc. <br /> <br />Members Present: <br /> <br />Mayor Gary Reimann <br />Councilmember Stephen F. DeLuca <br />Councilmember Alan Pearson <br />Councilmember Kenneth Peterson <br /> <br />Also Present: <br /> <br />City Administrator David Hartley <br />City Attorney Bill Goodrich <br />Finance Officer Sandra Ashley <br />Mr. Merland Otto, Hakanson Anderson Associates <br /> <br />Members Absent: Councilmember Richard Cich <br /> <br />CALL TO ORDER <br /> <br />Mayor Reimann called the public hearing to order at 7:32 p.m. <br /> <br />PRESENTATION <br /> <br />Mr. Hartley stated that the purpose of this public hearing is to receive public comment on <br />the involvement of the City of Ramsey by way of having its name on the bonds that will be <br />sold by ParaBody, Inc. and Ramsey Investments. These bonds will be industrial revenue <br />bonds secured fully by the assets of those who are selling the bonds. Ramsey has no <br />obligation other than the use of its name on the bonds. <br /> <br />CITZEN INPUT <br /> <br />Mr. Dennis Sharp of Ramsey Investments, was present and stated that Parabody is <br />proposing to lease the building that will be constructed by Ramsey Investments. Mr. Sharp <br />stated that the interest rate on financing through the use of industrial revenue bonds would <br />be less and those savings can be passed on to ParaBody in order that they can expand their <br />operation in Ramsey. <br /> <br />There was no other citizen input. <br /> <br />PUBLIC HEARING/JUNE 12, 1990 <br /> Page 1 of 2 <br /> <br /> <br />