Agenda - Council - 04/14/2020 - Laserfiche WebLink

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #20-074 RESOLUTION AUTHORIZING THE CALL OF THE OUTSTANDING GENERAL OBLIGATION BONDS, SERIES 2011A WHEREAS, by Resolution duly adopted on August 23, 2011 (the "Resolution"), the City issued General Obligation Bonds, Series 2011A, in the original principal amount of $4,365,000, dated September 7, 2011 (the "Bonds"). The City proposes to call $1,815,000 principal amount of the Bonds which are the outstanding 2021 through 2032 maturities (the "Outstanding Bonds") on June 1, 2020, at a price of par plus accrued interest. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1. The City Council hereby determines to prepay on June 1, 2020, the Outstanding Bonds and the interest due thereon. 2. Northland Trust Services, Inc., in Minneapolis, Minnesota, the Bond Registrar at which the principal and interest on the Bonds are payable, is hereby authorized and directed to cause the Notice of Ca11 for Redemption attached hereto as Exhibit A to be given in accordance with the provisions of the Resolution. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember , and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same: and the following abstained: and the following were absent: Whereupon said resolution was declared duly passed and adopted by the Ramsey City Council this the 14th day of April, 2020. Mayor ATTEST: City Clerk 12451144v1