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I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I. <br /> <br />[City's Letterhead] <br /> <br />Ms. Mary Alice Brophy <br />Commissioner of Securities <br /> and Real Estate <br />Minnesota Department of Commerce <br />Securities Division <br />Metro Square Building <br />St. Paul, Minnesota 55101 <br /> <br />Re: <br /> <br />City of Ramsey - Conunercial Development <br />Revenue Note of 1981 (Y R Sharp, Inc., <br />Project) <br /> <br />Dear Ms. Brophy: <br /> <br /> Attached hereto in duplicate is the application of <br />the City of Ramsey for approval of %he above referenced project <br />including a copy of the Preliminary Resolution adopted by the <br />City Council. <br /> <br /> As indicated in the attached Preliminary Resolu- <br />tion, we believe that this Project fully meets the public <br />purpose requirements of Minnesota Statutes, Chapter 474. In <br />particular, this project will accomplish an expansion of the ~ <br />community's tax base by addition of facilities worth more than~ <br />$350,000 and will provide our citizens with immediate access to' <br />greatly needed office-warehouse facilities. Employment from <br />the project should result in up to 20 employees. Finally, we <br />believe that the project will serve the interests of the <br />community by diversifying the commercial base and would help to <br />dampen the severity of any general economic, downturns. <br /> <br /> Reference is made to the Preliminary Resolution for a <br />more definitive statement of the public purposes served by the <br />financing. <br /> <br /> The Project does not contain any property to be sold <br />or affixed or consumed in the production of property for sale, <br />and does not include any housing facility to be rented or used <br />as a permanent residence. <br /> <br /> The City has complied with the notice and hearing <br />requirements of Minnesota Statutes, Section 474.01, as amended, <br /> <br /> <br />