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I October 13, 1981 <br /> <br />~ ~ . · ' understand t~t ~hough we are 1. ab e ~ <br /> <br />  President - <br /> <br />INC. <br /> <br />SI'I:'CIALISTS IN POURED CONCRETE WALLS <br /> <br />Osseo, Mi~esota 55369 <br /> <br /> Telephone 425-2002 <br /> <br />Lice~sed - Bo~ded - h~sured <br /> <br />Proposed $350,000 Commercial Development <br /> (Y. R. Sharp, Inc. <br /> <br />As you know, we are involved in the development of an office-warehouse <br />facility to be located on property in the City of Ramsey. The purpose <br />of this letter is to request that the City .of Ramse~ undertake to au- <br />thorize municipal revenue bond financing of all or a portion of the <br />project in accordance with the Municipal Industrial Development Act of <br /> <br />We herebg confirm our representation that we have no present binding <br />financing commitment, no general contract, nor any legal obligation to <br />undertake the proposed project, and it is not certain the project would <br />be undertaken withoutthe assistance requested herein. <br /> <br />we have heretofore agreed and do hereby reaffirm that we will pay any <br />and all costs mutually agreed upon in advance that are incurred by the <br />City in connection~with.:the project whether.ornot the project is <br />completed and whether"o~ not the project islultimately financed b~ the <br />City under £he Municipal Industrial Development Act. In this regard we <br />understand that though we are liable for the fees of the gity's attorney <br />and its bond counsel, the~ will continue to owe a fiduciary obligation <br /> services rendered in connection <br /> <br />DLS:lc <br /> <br /> <br />