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APPENDIX B <br />Pre -Sale Schedule dated March 10, 2015 <br />5 -Year City Capital Improvement Plan Bond Issuance <br />City of Ramsey, Minnesota <br />The City Council must take the following actions before Bonds can be issued: <br />• City Council directs preparation of a 5 -Year Capital Improvement Plan. <br />• City Council conducts a Public Hearing on issuance of Bonds and Capital Improvement Plan. <br />• City Council approves Bonds and Capital Improvement Plan by at least a 3/5ths vote of the governing body <br />membership. <br />The table below lists the steps in the issuing process: <br />February 10, 2015City Council adopts Resolution calling for Public Hearing on issuance of Bonds and on Capital <br />Improvement Plan. <br />February 16, 2015Close date to get Notice of Public Hearing on issuance of Bonds and on Capital Improvement Plan to <br />official newspaper for publication. <br />February 20, 2015Publish Notice of Public Hearing on issuance of Bonds and on Capital Improvement Plan (publication <br />no more than 28 days and no less than 14 days prior to hearing date). Additionally, notice may be <br />posted on the City's official web site, if any. <br />March 10, 2015 City Council holds Public Hearing at 7:00 p.m. on Bonds and on Capital Improvement Plan and adopts <br />Resolution giving preliminary approval for their issuance and approving Capital Improvement Plan by <br />at least a 3/5ths vote of the governing body membership. <br />April 9, 2015 Reverse referendum period ends (within 30 days of the public hearing). <br />April 14, 2015 City Council accepts offer for Bonds and adopts Resolution -Approving sale of Bonds. <br />May 7, 2015 Tentative closing/receipt of funds. <br />Net Debt Limit <br />Annual Levy Limit <br />Assessor's Estimated Market Value <br />1,795,975,400 <br />Assessor's Estimated Market Value <br />1,795,975,400 <br />Multiply by 3% <br />0.03 <br />Multiply by .16% <br />0.0016 <br />Statutory Debt Limit <br />53,879,262 <br />Statutory Levy Limit <br />2,873,561 <br />Less: Debt Paid Solely from Taxes <br />(20,050,000) <br />Less: Annual Levy under CIP <br />(1,608,000) <br />Unused Debt Limit <br />33,829,262 <br />Unused Levy Limit <br />1,265,561 <br />0 LEADERS IN PUBLIC FINANCE <br />EHLERS <br />Ehlers & Associates, Inc. <br />Page 13 <br />