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421 <br /> <br /> n ommercial Development <br /> Revenue Note of the City of Ramsey (Y. R. <br /> Gent].ementSharp, Inc.) <br />At the request of Y. R. Sharp, Inc., we have examined the <br />economic feasibility that the City of Ramsey issue its revenue <br />bonds/and or revenue note under the provisions of the Minnesota <br />Municipal Industrial Development Act, to provide funds for the <br />acquisition and construction of an office/warehouse facility <br />located within the City of Ramsey to be owned by Y. R. Sharp, <br />Inc., and leased to various tenants. <br /> <br /> Our examination has led us to the conclusion that on the <br />basis of current financial condition, the project is economically <br />feasible and the revenue bond(s) of the City could be issued. <br /> <br /> We understand a copy of this letter will be forwarded by the <br />Ramsey City Mayor, to the Commissioner of Securities, and Real <br />Estate of the State of ~finnesota to serve as the letter of <br />feasibility required by the Commissioner. <br /> <br />Sincerely yours, <br /> <br />Larry E. Pietrzak <br />Vice President Executive Vice President <br /> <br />LEP/df <br /> <br /> <br />