Laserfiche WebLink
EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE <br /> CITY OF RAMSEY, MINNESOTA. <br /> <br />HELD: December 9, 2003 <br /> <br /> Pursuant to due call and notice thereof, a regular or special meeting of the City Council <br />of the City of Ramsey, Anoka County, Minnesota, was duly held at the City Hall on December 9, <br />2003, at __ o'clock P.M., for the purpose, in part of authorizing the issuance and awarding <br />the sale of $675,000 General Obligation Equipment Certificates of 2003. <br /> <br />The following members were present:_ <br /> <br />and the following were absent: <br /> <br />Member <br /> <br />introduced the following resolution and moved its adoption: <br /> <br />'RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $675,000 GENERAL <br />OBLIGATION EQUIPMENT CERTIFICATES OF 2003 AND LEVYING A TAX FOR THE <br />PAYMENT THEREOF <br /> <br /> A. WHEREAS, the City Council of the City of Ramsey, Minnesota (the "City"), <br />hereby determines that it is necessary and expedient to issue $675,000 General Obligation <br />Equipment Certificates of 2003 (the "Certificates" or, individually, a "Certificate"), pursuant to <br />Minnesota Statutes, Chapter 475 and Minnesota Statutes, Section 412.301, to finance the <br />acquisition of capital equipment for the City (the "Project"); and <br /> <br /> B. WHEREAS, each item of equipment to be financed by the Certificates has an <br />expected useful life at least as long as the term of the Certificates; and <br /> <br /> C. WHEREAS, the principal amount of the Certificates does not exceed one-quarter <br />of one percent (0.25%) of the market value of the taxable property in the City ($ <br />times 0.25% is $ ); and <br /> <br /> D. WHEREAS, the Certificates are being sold pursuant to a private sale as permitted <br />by Minnesota Statutes, Sections 412.301 and 475.60, Subdivision 2(1); and <br /> <br /> E. WHEREAS, it is in the best interests of the City that .the Certificates be issued in <br />book-entry form as hereinafter provided; and <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ramsey, <br />Minnesota, as follows: <br /> <br /> 1. Acceptance of Offer. The offer of Northland Securities, Inc. (the "Purchaser"), to <br />purchase the Certificates in accordance with the terms and at the rates of interest hereinafter set <br /> <br />1594839vl <br /> <br /> <br />