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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 />I <br />I <br />I <br />i <br />I <br />I <br />I <br />I <br /> <br />[Briggs and Morgan Stationery] <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-- Commercial Development <br />Revenue Note (Y R Sharp, Inc. Project) <br /> <br />Dear Ms. Brophy: <br /> <br /> This is to advise you that our firm has reviewed the <br /> attached resolution, the feasibility letter of , <br /> the application of the City of Ramsey and the letter of <br /> transmittal from the City. Based upon a review of that <br /> material it is our opinion that the Project referred to therein <br /> constitutes a project within the meaning of Minnesota Statutes, <br /> Section 474.02, Subdivision la and that the proposed financing <br /> thereof in the form of a single debt instrument (the "Note") as <br />· ',-.set forth in.the attache~ resolution is authorized by law. <br /> <br /> Please do not hesitate to give me a call if there are - <br />any questions. <br /> <br />Very truly yours, <br /> <br />Mary L. Ippel <br /> <br />Enclosures <br /> <br /> <br />