Agenda - Council - 03/13/1991 - Laserfiche WebLink

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I I I I I I I I I I I I I I I I ! I Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #91-03- RESOLUTION TO COMMISSIONER OF TRANSPORTATION REQUESTING A BOND' RECORD WHEREAS, the City of Ramsey, Anoka County, Minnesota has issued and sold bonds, dated March 1,3, 1991, in the amount of $500,000.00 exclusively for the purpose of establishing, locating, relochting, constructing, reconstructing or improving its State-Aid Highways or Streets in accordm~ce with law; and WHEREAS, said City of Ramsey has irrevocably pledged to the sinking fund from which said obligations are payable, that amount of their future State-Aid allotments as is permissible by law and needed to pay the principal and interest thereon; which principal payments shall be made from the regular construction account of such State-Aid fund and the interest payments made from their Regular State-Aid maintenance account, all as detailed herein: YEAR DATE PRINCIPAL INTEREST TOTAL DUE 1992 March 13 $100,000.00 $36,000.00 $136,000.00 1993 March 13 $100,000.00 $28,800.00 $128,800.00 1994 March 13 $100,000.00 $21,750.00 $121,750.00 1995 March 13 $100,000.00 $14,500.00 $114,500.00 1996 March 13 $100,000.00 $ 7,300.00 $107,300.00 NOW TItEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the Commissioner of Transportation be and is hereby requested to keep a bond record in the Commissioner's office for the City of Ramsey. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same: and the following abstained: and the following were absent: whereupon said resolution was declared duly passed and adopted by the City Council this the 13th da3, of March, 1991. ATTEST: Mayor C/ty Administrator