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<br />~n the opinion of Bond Counsel~ the interest to be paid on the Bonds {s not includable in the gross
<br />income of the recipient for United States or Minnesota income tax purposes but is subject to Minnesota
<br />taxes on banks and corporations measured by income.
<br />
<br />OFFICIAL STATEMENT
<br />==
<br /> (NEW t55UE)
<br />
<br /> $705,000* GENERAL OBLIGATtON
<br />REFUNDING IMPROVEMENT BONDS, SERIES 1985
<br />
<br />CITY OF RAMSEY, ANOKA COUNTY, MINNESOTA
<br />
<br />Bonds Dated: March 1, 1985
<br />
<br />Principal Due~ April 1, 1986/1992
<br />
<br />The Bonds are being issued pursuant to Minnesota Statutes, Section 475.67, to refund in advance of
<br />maturity an issue of $815,000 General Obligation Improvement Bonds, dated October 1, 1981. The 1981
<br />Bonds presently have $700,000 in principal amount outstanding.
<br />
<br />The Bonds will be general obligations of the City for which its full faith and credit and unlimited
<br />taxing powers will be pledged together with special assessments which have been levied against
<br />benefited properties.
<br />
<br />The Bonds will be issued as fully registered Bonds of single maturities in denominations of $5,000 or
<br />any integral multiple thereof, will be dated March 1, 1985, and will mature serially on April 1, in the
<br />years and amounts as follows:
<br />
<br />Year Amount Year Amount Year YAmount'
<br />
<br />1986 $ 95,000 1989 $100,000 1991 $105,000
<br />1987 90,000 1990 105,000 1992 105,000
<br />1988 105,000
<br />
<br />Bonds maturing in 1992 will be subject to redemption at the option of the City on April I, 1991, and any
<br />interest payment date thereafter at a price of par plus accrued interest to the date of redemption.
<br />
<br />Interest on the Bonds is payable on October 1, 1985, and semiannually thereafter on each April I and
<br />October 1 to registered owners of the Bonds appearing of record in the Bond Register as of the close of
<br />business on the 15th day of the immediately preceding month. First National Bank of Minneapolis will
<br />serve as Bond Registrar, Transfer Agent and Paying Agent on this issue.
<br />
<br />Bids must be for not less than $694,000, and accrued interest on the total principal amount of the Bonds.
<br />Bids must be accompanied by a certified or cashier's check or bank draft in the amount of $14,100 payable
<br />to the City Clerk-Treasurer.
<br />
<br />The Bonds are offered subject to the legal opinion of LeFevere, Lefler, Kennedy, O'Brien & Drawz, a
<br />Professional Association, of Minneapolis, Minnesota.
<br />
<br />BIDS RECEIVED UNTIL:
<br />
<br />BIDS CONSIDERED:
<br />RATING:
<br />
<br />11:00 A.M., C.T., Wednesday, February 27, 1985
<br />Office of the City Clerk-Treasurer
<br />Ramsey, Minnesota
<br />
<br />7:30 P.M., C.T., Wednesday, February 27, 1985
<br />
<br />An application has been made to Moody's Investors Service, Inc.
<br />
<br />The date of this Official Statement is February 15, 1985.
<br />
<br />The City reserves the right to increase or decrease the issue size by no more than $20,000 on the
<br />date of sale. If the issue size is adjusted, the purchase price will be adjusted proportionately;
<br />no single maturity will be adjusted by more than $5,000. The appearance of an "*" throughout this
<br />Official Statement refers to this provision.
<br />
<br />m. DODGE Financial Consultants
<br /> mm
<br /> EVENSEN
<br /> INC.
<br /> m[~ 3608 IDS Tower, Minneapolis, Minnesota 55402 612/338-3535
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