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City of Ramsey <br />Five -Year Capital Improvement Plan <br />2015 through 2019 <br />I. INTRODUCTION <br />In 2003, the Minnesota State Legislature adopted a statute (Section 475.521, <br />referred to herein as the "CIP Act") that allows cities to issue municipal <br />bonds under a capital improvement plan without the usual referendum <br />requirement (except for the so-called "reverse referendum" described <br />below). The CIP Act applies to capital improvements consisting of city <br />halls, public works, and public safety facilities. The 2005 Legislature added <br />towns to the meaning of a municipality and town halls and libraries to the <br />meaning of a capital improvement under the CIP Act. <br />Throughout this plan, the term "capital improvement" refers only to those <br />improvements identified in the CIP Act, as summarized above. Capital <br />expenditures for other public improvements in the City will be financed <br />through other means, and are not governed by this plan. <br />Ehlers & Associates, Inc. Page 3 <br />