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Councilmember Riley introduced the following resolution and moved for its adoption: <br />RESOLUTION #16-10-203 <br />RESOLUTION ADOPTING CONDUIT DEBT POLICY <br />WHEREAS, the City of Ramsey issues what is known as "Pass Through Debt" for a not -for <br />profit or other agency to take advantage of the city's tax exempt status; and <br />WHEREAS, the Conduit Debt Policy outlines the terms and conditions for the issuance of <br />conduit debt. <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br />1) That the City Council hereby authorizes the Conduit Debt Policy with its Terms and <br />Conditions as listed. <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />LeTourneau, and upon vote being taken thereon, the following voted in favor thereof: <br />Mayor Strommen <br />Councilmember Riley <br />Councilmember LeTourneau <br />Councilmember Johns <br />Councilmember Kuzma <br />Councilmember Shyrock <br />Councilmember Williams <br />and the following voted against the same: <br />None <br />and the following abstained: <br />None <br />and the following were absent: <br />None <br />Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this <br />the 25h day of October, 2016. <br />