Laserfiche WebLink
City of Ramsey, Minnesota <br />November 3, 1989 <br /> <br />The Series A improvement bonds and Series B tax-exempt bonds are subject to the Tax <br />Reform Act of 1986 .in regards to the rebate and reporting requirements. Since the City will <br />issue less than $5 million of tax-exempt bonds during calendar year 1989 the City can <br />exempt itself as a "small issuer" from the rebate and reporting requirements, The taxable <br />bonds do not have to meet those requirements. <br /> <br />We are recommending that all three issues retain the right to have bonds maturing in the <br />years 1998 and beyond callable in 1997, without penalty to the City. This will permit the City <br />to prepay bonds if conditions so merit. <br /> <br />We are recommending the bonds be offered for sale on Tuesday, November 28, with bids to <br />be received in the offices of Springsted Incorporated at 1:00 P.M. The bids will be recorded, <br />verified for accuracy and presented to the Council for action that evening at 7:30 P.M. Bond <br />proceeds will be available to the City before the end of the calendar year. <br /> <br />Respectfully submitted, <br /> <br />SPRINGSTED Incorporated <br /> <br />mmr <br /> <br />Page 4 <br /> <br /> <br />