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II I I I I I I I '1 I I I I I I I I '1 Thank you for your response to our recent survey our Ramsey businesses. Your response was very helpful in formulating plans and goals for the Ramsey Economic Development Commission. Because 54% of the respondents listed their number one priority as encouraging new businesses in Ramsey; and 51% felt the need to encourage expansion of existing businesses, the Ramsey Economic Development Commission has decided to Continue with our plans to establish a local development company. This company, originally established in 1982 is a local non-profi% company. The primary purpose for the company is to assist the city and community by promoting the growth and expansion of new and existing businesses in Ramsey. The local development company will work as a liason between the city and the private sector as a source of information and assistance in meeting development needs. To encourage support of the local development company by local businesses and residents, we are offering each business and resident the opportunity to become a voting member of the company through the ownership of stock in the company. Stock shares will be offered at $25.00 per share. Proceeds from the sale of stock will be used by the company in its efforts to assist and promote growth, expansion and development of businesses in Ramsey. Prospective purchasers of the stock are advised that there is no expectation of income from the stock in the form of dividends from earnings. The sole purpose of the sale of stock is to provide an operating fund for the company to use if promoting business development.