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CASE ~6: <br /> <br /> REO~EST, BY, LINWOOD .~(~NSBIP TO BORROW $5.500 OF RAMSEY'_S_ CDBG <br /> NDS: <br /> <br />Enclosure (D2-i) contains a letter dated January 15, 1985 from <br />Lir~ T~wnship requesting to borrow $5,500 of Ramsey's CDBG funds. <br />~here shouldn't be any problems in approving their request. <br />~his will all probably fit better into the City of Ramsey's time <br />frame in utilizing these funds. Approving this would require adopt- <br />ing the proposed resolution that is contained in the above enclosure. <br /> <br />Council Action: <br /> <br />ADVANCE REFUNDING OF CITY'S~981 GENERAL OBLIGATIQN IMPROVEMENT <br /> <br />Your action will be to approve/disapprove of the above request. <br />Unani~Dus consensus of the Council is required to dispense with the <br />reading of the proposed resolution. ~e following proposed motion is <br />he reby submi tted ~r~o~u. ~___~sidaration: ~..~ <br /> Motion by~<~...~- and seconded by approve/ <br /> disapprove of adopting Resolution ~85- autl~orizing the <br /> borrowing of $5,500 from the City's CDBG funds to Linwood <br /> T~wnship. (If you disapprove, you should state rasons in this <br /> motion.) Please refer to resolution file for Resolution <br /> #85-._.. <br /> <br /> Council discussion: <br /> <br /> Motion carried/failed. Voting yes ............ . ........ . <br /> Voting no . .~/~ .~. % ...... . <br /> <br /> utili <br />bea <br />Rams.= <br />marke <br /> <br />a <br /> <br /> Motion carried/failed. Voting yes ........ <br /> <br />~e bond market now appears to be looking favorable for the City to <br />utilize the advance refunding of 1981 improvement bond which would <br />be a major savings of approximately $30,000 to $35,000 to the City of <br />Ramsey. We tried to do this in 1983 and 1984 but at that time the <br />market would not settle down so we had to forgo it. A representative <br />Evensen-Dodge will be at the meeting to review this with the <br /> <br />fl3tmcil Action: <br /> <br />Your action will be to approve/disapprove of this request by adopting <br />a resolution authorizing the sale of the general obligation refunding <br /> Unanimous consensus of the Council is required to dispense <br />with the reading of the proposed resolution. 9/~e following proposed <br />motion is hereby submitted for your consideration:~ <br /> Motion byrd seconded by .~~ to adopt <br /> Resolution ~5-._. authorizing the sale of general obligation <br /> refunding bond to replace the 1981 general obligation improve- <br /> ment bond. Please refer to resolution file for Resolution <br /> ~85-._.. <br /> <br /> <br />