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Councilmember Kuzma introduced the following resolution and moved for its adoption:
<br /> RESOLUTION#17-07-179
<br /> RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $895,000 GENERAL
<br /> OBLIGATION STREET RECONSTRUCTION BONDS, SERIES 2017A, PLEDGING
<br /> SPECIAL ASSESSMENTS AND LEVYING A TAX FOR THE PAYMENT THEREOF
<br /> A. WHEREAS, the City of Ramsey, Minnesota(the "City"), has heretofore
<br /> determined and declared that it is necessary and expedient to issue $895,000 General Obligation
<br /> Street Reconstruction Bonds, Series 2017A(the "Bonds" or individually, a "Bond"),pursuant to
<br /> Minnesota Statutes, Chapter 475 and Section 475.58, Subdivision 3b, to finance street
<br /> reconstruction improvement projects under the City's 2015 through 2019 Five-Year Street
<br /> Reconstruction Overlay Plan adopted on March 10, 2015 (the "Improvements"); and
<br /> B. WHEREAS, on March 10, 2015, following duly published notice thereof, the
<br /> Council held a public hearing on the issuance of approximately$10,000,000 principal amount of
<br /> bonds to finance the Improvements and all persons who wished to speak or provide written
<br /> information relative to the public hearing were afforded an opportunity to do so; and
<br /> C. WHEREAS, no petition signed by voters equal to 5 percent of the votes cast in
<br /> the City in the last municipal general election requesting a vote on the issuance of the street
<br /> reconstruction bonds has been filed with the City Administrator within 30 days after the public
<br /> hearing on March 10, 2015; and
<br /> D. WHEREAS, the Bonds, together with any outstanding bonds of the City that are
<br /> subject to the City's net debt limit, do not exceed the City's net debt limit; and
<br /> E. WHEREAS,the City has retained Ehlers &Associates, Inc., in Roseville,
<br /> Minnesota("Ehlers"), as its independent municipal advisor for the sale of the Bonds and was
<br /> therefore authorized to sell the Bonds by private negotiation in accordance with Minnesota
<br /> Statutes, Section 475.60, Subdivision 2(9) and proposals to purchase the Bonds have been
<br /> solicited by Ehlers; and
<br /> F. WHEREAS, the proposals set forth on Exhibit A attached hereto were received
<br /> by the Administrator, or designee, at the office of Ehlers, at 11:00 A.M. on the date hereof,
<br /> pursuant to the Preliminary Official Statement for the Bonds, dated July 13, 2017; and
<br /> G. WHEREAS, it is in the best interests of the City that the Bonds be issued in book-
<br /> entry form as hereinafter provided;
<br /> NOW, THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
<br /> RAMSEY,ANOKA COUNTYY, STATE OF MINNESOTA, as follows:
<br /> 1. Acceptance of Proposal. The proposal of
<br /> (the "Purchaser"),to purchase the Bonds, in accordance with the Preliminary Official Statement
<br /> established for the Bonds, at the rates of interest hereinafter set forth, and to pay therefor the sum
<br /> 8394444v1
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