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I <br /> DOUGHERTY, D^WKINg STRAND & YOST <br /> I I NCORPOR^T <br /> <br /> City ~nager <br /> City of Ramsey <br /> I 15153 Nowthen Blvd. <br /> Ramsey, MN 55303 <br /> <br /> I D~r Lloyd: <br /> Relative to our recent telephone conversation, I ~ for- <br /> I warding to you a copy of recently published M~orandum from the <br /> Department of Energy and Economic Development here in the State <br /> of Minnesota. This publication is specifically relative to the <br /> I implementation of the $150 per capita vol~e limitation on the <br /> issuance of Industrial Revenue Bonds. <br /> <br /> As we discussed in our telephone conversation, any prospec- <br /> I tive project with a preliminary resolution approved by the City <br /> Council prior to June 19, 1984 is grandfathered in under this <br /> vol~e limitation cap. Consequently, any of these projects <br /> I closed prior to the end of this year, you need not be concerned <br /> about how it fits with the vol~e limitation. <br /> <br />I My reading of the attached information indicates that the <br /> City of Ramsey is not an entitlement city and consequently then <br /> must follow the formula as prescribed in the ~terials for <br /> issuance of Industrial Revenue Bonds from this ~int forward. <br />I Should you have any questions with regard to the interpreta- <br /> tion of these ~terials, or if we can be of assistance to you in <br />I any way, please do not hesitate to contact me. <br /> With personal regards, I am <br /> <br />! <br /> Vice President <br />I ~S/kjo <br /> Enclosure <br /> <br />I <br />I <br /> <br /> INVESTMENT BANKERS <br />700 LUMBEFI EXOHANGE BUILDING [] MINNEAPOLIS, MINNESOTA 55401 [] 612/341-8000 <br /> <br /> <br />