|
EXTRACT OF MINUTES OF A MEETING
<br />OF THE CITY COUNCIL
<br />CITY OF RAMSEY, MINNESOTA
<br />HELD: JUNE 26, 2018
<br />Pursuant to due call and notice thereof, a regular or special meeting of the City Council
<br />of the City of Ramsey, Anoka County, Minnesota, was duly called and held at the City Hall on
<br />June 26, 2018, at 7:00 P.M., for the purpose of, in part, of authorizing the issuance and awarding
<br />the sale of $1,175,000 General Obligation Street Reconstruction Bonds, Series 2018A.
<br />The following members were present: John LeTourneau, Melody Shryock, Mark Kuzma
<br />and Chris Riley
<br />and the following were absent: Jill Johns
<br />Member Riley introduced the following resolution and moved its adoption:
<br />RESOLUTION NO. 18-121
<br />RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $1,210,000 GENERAL
<br />OBLIGATION STREET RECONSTRUCTION BONDS, SERIES 2018A, 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 $1,175,000 General
<br />Obligation Street Reconstruction Bonds, Series 2018A (the "Bonds" or individually, a "Bond"),
<br />pursuant to Minnesota Statutes, Chapter 475 and Section 475.58, Subdivision 3b, to finance
<br />street 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 />10853171v1
<br />
|