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Cou ncilmember Cook introduced the following Resolution and moved for its adoption: <br /> RESOLUTION #05-04-103 <br /> <br /> CITY OF RAMSEY <br />ANOKA COUNTY, MINNESOTA <br /> <br />RESOLUTION AUTHORIZING THE SALE OF APPROXIMATELY $18,640,000 PUBLIC PROJECT <br />LEASE REVENUE BONDS, SERIES 2005A AND $4,335,000 GENERAL OBLIGATION <br />PERMANENT IMPROVEMENT REVOLVING FUND BONDS SERIES 2005B <br /> <br /> WHEREAS, the City has an upcoming issuance of approximately $18,640,000 Public Project Lease <br />Revemle Bonds, Series 2005A and $4,335,000 General Obligation Permanent Improvement Revolving Fund Bonds <br />Series 2005B (together the "Bonds") and <br /> <br /> WHEREAS, the City desires to effectuate the transaction with Northland Securities Inc, when the <br />//nancing documents are in place and market conditions are appropriate. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF RAMSEY, MINNESOTA: <br /> <br />That the Ramsey City Council are hereby authorized to approve the sale of certain Bonds <br />to Northland Securities when market conditions warrant and on such date and at such <br />time as Northland Securities, Inc advises. <br /> <br />That within 72 hours of the foregoing approval, this City Council and the Economic <br />Development Authority will meet to adopt the necessary approval resolution(s) drafted <br />by bond counsel. <br /> <br />The motion for the adoption of the foregoing resolution was fully seconded by Councilmember Elvig, and upon <br />vote being taken thereon, the following voted in favor thereof: <br /> <br />Mayor Gamec <br />Councihnember Elvig <br />Councihnember Pearson <br />Councilmember Cook <br />Councihnember Olson <br />Councihncmber Strommen <br /> <br />a~cl the following voted against the same: <br /> <br /> Non(? <br /> <br />~md the following abstained: <br /> <br /> None <br /> <br /> <br />