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I <br />I <br /> <br />I <br />I <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />RANDALL, DEHN g GOODRICH <br /> <br /> ~TTO~4EY5 ~T LA'O~' <br /> <br /> ANOKA~MINNESOTA ~303 <br /> <br />December 2, 1982 <br /> <br />Lloyd G. Schnelle <br />Ramsey .City Administrator <br />15153 Nowthen Boulevard NW <br />Ramsey, Minnesota 55303 <br /> <br />Re: Use of 1979 Bond Issue Surplus Funds <br /> <br />Dear Mr. Schnelle: <br /> <br />I am enclosing a copy of M.S.A. 429.091 and I have underlined in <br />red the appropriate provision relating to the above subject. <br />After reading this provision, you will note that the City does <br />have the authority to use the surplus funds in the 1979 <br />assessment bond fund for its pending improvement project of 167th <br />Avenue Northwest, west of County Road #5. At the time of the <br />assessment, the City Council should adopt a resolution stating <br />that the proceeds from that part of the project to be assessed <br />are pledged to the 1979 fund for repayment. In addition, that <br />resolution should state from what other source of revenue the <br />balance of the monies borrowed out of the 1979 fund will be <br />repaid. <br /> <br />If you have any further questions regarding this subject, please <br />contact me at your convenience. <br /> <br />Very truly yours, <br /> <br />Enc. <br /> <br />I <br /> <br /> <br />