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• <br />1146366.1 <br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />RAMSEY, MINNESOTA <br />HELD: March 14, 2000 <br />Pursuant to due call and notice thereof, a regular <br />meeting of the City Council of the City of Ramsey, Anoka County, <br />Minnesota, was duly held at the City Hall in said City on <br />Tuesday, the 14th day of March, 2000, at 7:00 o'clock P .M. , for <br />the purpose, in part, of authorizing the issuance of, and <br />awarding the sale of, $257,000 General Obligation Capital <br />Equipment Certificates of Indebtedness, Series 2000A of the City. <br />The following members were present: <br />Mayor Gamec, Councilmember Zimmerman, Councilmember Connolly, Councilmember Anderson, and <br />Councilmember Hendrikben <br />and the following were absent: <br />None <br />Member Gerald Zimmerman introduced the following <br />resolution and moved its adoption: <br />RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE <br />OF $257,000 GENERAL OBLIGATION CAPITAL EQUIPMENT <br />CERTIFICATES OF INDEBTEDNESS, SERIES 2000A, <br />AND LEVYING A TAX FOR THE PAYMENT THEREOF <br />A. WHEREAS, the City Council of the City of Ramsey, <br />Minnesota (the "City "), has heretofore determined and declared <br />that it is necessary and expedient to issue $257,000 General <br />Obligation Capital Equipment Certificates of Indebtedness, Series <br />2000A (the "Certificates ") of the City, pursuant to Minnesota <br />Statutes, Chapter 475 and Minnesota Statutes, Section 412.301, <br />for the purpose of providing money to finance the acquisition of <br />certain capital equipment for the City (the "Equipment "); and <br />B. WHEREAS, the Equipment has an expected useful life <br />at least as long as the final maturity of the Certificates; and <br />C. WHEREAS, the City has no outstanding certificates <br />of indebtedness; and <br />D. WHEREAS, the amount of the Certificates to be <br />issued does not exceed one - quarter of one percent (0.250) of the <br />market value of the taxable property in the City; and <br />