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APPENDIX C <br />Pre -Sale Schedule dated March 10, 2015 <br />5-Year City Street Reconstruction Plan Bond Issuance <br />City of Ramsey, Minnesota <br />The City Council must take the following actions before Bonds can be issued: <br />• City Council directs preparation of a 5-Year Street Reconstruction Plan. <br />• City Council conducts a Public Hearing on issuance of Bonds and Street Reconstruction Plan. <br />• City Council approves Bonds and Street Reconstruction Plan by unanimous vote. <br />The table below lists the steps in the issuing process: <br />February 10, 2015:City Council adopts Resolution calling for Public Hearing on issuance of Bonds and on Street <br />Reconstruction Plan. <br />February 16, 2105:Close date to get Notice of Public Hearing on issuance of Bonds and on Street Reconstruction Plan to <br />official newspaper for publication. <br />February 20, 2015:Publish Notice of Public Hearing on issuance of Bonds and on Street Reconstruction Plan (publication <br />no more than 28 days and no less than 10 days prior to hearing date). <br />March 10, 2015: City Council holds Public Hearing at 7:00 p.m. on Bonds and on Street Reconstruction Plan and adopts <br />Resolution giving preliminary approval for their issuance and approving Street Reconstruction Plan by <br />unanimous vote of its membership present. <br />March 10, 2015:City Council provides for sale of Bonds. <br />April 9, 2015: Reverse referendum period ends (within 30 days of the public hearing). <br />April 14, 2015: City Council accepts offer for Bonds and adopts Resolution -Approving sale of Bonds. <br />May 7, 2014: Tentative closing/receipt of funds. <br />Net Debt Limit <br />Assessor's Estimated Market Value <br />Multiply by 3% <br />Statutory Debt Limit <br />Less: Debt Paid Solely from Taxes <br />Unused Debt Limit <br />1,795,975,400 <br />0.03 <br />53,879,262 <br />(20,050,000) <br />33,829,262 <br />Ehlers & Associates, Inc. Page 15 <br />