Agenda - Council - 08/24/1993 - Laserfiche WebLink

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I I '1 I I ! I I I I I I I I I I I I I Councilmember introduced the following resolution and movexi for its adoption: RESOLUTION #93-08- RESOLUTION AUTHORIZING PROCESS TO CONTINUE REFUNDING $2,800,000 G.O. TAX INCREMENT BONDS, SERIES 1987A WHEREAS, the financial advisory firm of Springsted periodically reviews the City of Ramscy bond issues and makes recommendations pertaining to call features or refundings; and WHEREAS, during these reviews it was noted that it would be beneficial to the City to refund at its call date the $2,800,000 G.O. Tax Increments Bonds, Series 1987A; and WHEREAS, at the Economic Development Authority meeting on August 16, 1993, Bob Thistle of Springsted reviewed the benefits of refunding this issue with all members present and based on these facts, staff recommended that the City proceett with the refunding; and WHEREAS, the Economic Development Authority approved this recommendation and hereby recommends that the Ramsey City Council approve the continuation of refunding the G.O, Tax Increment Bonds, Series 1987A. NOW THEREFORE, BE IT RESOL~ BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the Ramsey City Council hereby directs Staff to continue the process of refunding the G.O Tax Increment Bonds, Series 1987A. 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 Ramsey City Council this the 24th day of August 1993. ATTEST: Mayor City Administrator