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<br />Councilmember Johns introduced the following resolution and moved for its adoption: <br />RESOLUTION #15-05-129 <br />RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $3,880,000 <br />GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS, SERIES 2015A <br />AND LEVYING A TAX FOR THE PAYMENT THEREOF <br /> WHEREAS, <br />A. on March 10, 2015, the City Council of the City of Ramsey, <br />Minnesota (the "City"), held a public hearing on the proposed issuance of general obligation <br />capital improvement plan bonds and, pursuant to resolution approved and adopted the 2015 <br />through 2019 Five-Year Capital Improvement Plan (the "Plan"), and approved the issuance of <br />general obligation capital improvement plan bonds to finance the acquisition and betterment of a <br />new Fire Station #2 (the "Project"), all pursuant to the Plan and in accordance with the <br />provisions of Minnesota Statutes, Section 475.521; and <br /> WHEREAS, <br />B. no petition signed by voters equal to five percent of the votes cast in <br />the City in the last general election requesting a vote on the issuance of the general obligation <br />capital improvement plan bonds has been filed with the Administrator within thirty days after the <br />public hearing on the Plan and on the issuance of the general obligation capital improvement <br />plan bonds; and <br /> WHEREAS <br />C., the City Council hereby determines and declares that it is necessary <br />and expedient to issue $3,880,000 General Obligation Capital Improvement Plan Bonds, Series <br />2015A (the "Bonds" or, individually, a "Bond"), pursuant to Minnesota Statutes, Section 475.521 <br />and Chapter 475, to provide funds to finance the Project; and <br /> WHEREAS, <br />D. the City has heretofore determined, in accordance with Minnesota <br />Statutes, Section 475.521, Subd. 4, that the principal and interest to become due in any year on <br />all the outstanding bonds issued by the City under Minnesota Statutes, Section 475.521, <br />including the Bonds, will be less than 0.16 percent of the taxable market value of property in the <br />City; and <br /> WHEREAS, <br />E. the City has retained Ehlers & Associates, Inc., in Roseville, <br />Minnesota ("Ehlers"), as its independent financial advisor for the sale of the Bonds and was <br />therefore authorized to sell the Bonds by private negotiation in accordance with Minnesota <br />Statutes, Section 475.60, Subdivision 2(9) and proposals to purchase the Bonds have been <br />solicited by Ehlers; and <br /> WHEREAS, <br />F. the proposals set forth on Exhibit A attached hereto were received <br />by the Administrator, or designee, at the office of Ehlers, at 11:00 A.M. on the date hereof, <br />pursuant to the Preliminary Official Statement for the Bonds, dated May 14, 2015; and <br /> WHEREAS <br />G., it is in the best interests of the City that the Bonds be issued in <br />book-entry form as hereinafter provided; and <br /> 1 <br />7096715v1 <br /> <br /> <br />