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G. WHEREAS, the City has retained <br />as its independent financial advisor for the sale of the Bonds and was therefore authorized to sell <br />the Bonds by private negotiation in accordance with Minnesota Statutes, Section 475.60, <br />Subdivision 2(9); and <br /> <br /> H. WHEREAS, it is in the best interests of the City that the Bonds be issued in <br />book-entry form as hereafter provided. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY TIlE CITY COIJNCIL OF THE <br />CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br /> 1. Acceptance of Proposal. The offer Northland Securities, Inc. (the "Purchaser"), to <br />purchase the Bonds at the rates of interest hereinafter set forth, and to pay therefor the sum of <br />$__ __, plus interest accrued to settlement, is hereby accepted. <br /> <br />2. Bond Terms. <br /> <br /> (a) Original Issue Date; Denominations; Maturities; Combining Maturities; and Term <br />Bond Option. The Bonds shall be dated November 1,2004, as the date of original issue and shall <br />be issued forthwith on or after such date in fully registered form. The Bonds shall be numbered <br />from R-1 upward in the denomination of $5,000 each or in any integral multiple thereof of a <br />single maturity (the "Authorized Denominations") and shall mature on February 1 in the years <br />and amounts as follows: <br /> <br />Year Amount Year Amount <br /> <br />2005 2012 <br />2O06 2013 <br />20O7 2014 <br />2008 2015 <br />2009 2016 <br />2010 2017 <br />2011 <br /> <br />All dates are inclusive. <br /> <br /> As may be requested by the Purchaser, one or more term Bonds may be issued having <br />mandatory sinking fund redemption and final maturity amounts conforming to the forgoing <br />principal repayment schedule, and corresponding additions may be made to the provisions of the <br />applicable Bond(s). <br /> <br /> (b) Book Entry Only System. The Depository Trust Company, a limited purpose <br />trust company organized under the laws of the State of New York or any of its successors or <br />successors to its functions hereunder (the "Depository") will act as securities depository for the <br />Bonds, and to this end: <br /> <br /> (i) The Bonds shall be initially issued and, so long as they remain in book entry <br />form only (the "Book Entry Only Period"), shall at all times be in the form ora separate <br /> <br />1700675vl 2 <br /> <br /> <br />