Resolution - #04-12-373 - 12/14/2004

Home

NONARBITRAGE CERTI~'ICATE Thc undersigned are the duly qnalified and acting Mayor and Administrator of the City of Ramscy, Anoka CoLmty, Minnesota (the "City" or "Issuer"), charged, either alone or with others, wiitt thc responsibility of issuing the Issuer's $345,000 General Obligation Equipment (_'crti ficates of Indebtedness, Series 2004B, dated December 15, 2004, as the date of original i ssu ¢ (thc "Certi ficatcs"). This Certificate is being executed in accordance with the income tax regulations relating to arbitrage bonds (the "Regulations") and may be relied upon as a ccrtification under Section 1.148-2(b)(2) of the Regulations and under Section 148 the Internal Rcvcmlc Code of 1986, as amended (the "Code"). The undersigned, having made an invcsti.gation of' the facts, circumstances and estimates pertaining to and in connection with the Ccrtificatcs, hereby certify and reasonably expect as follows with respect to the Certificates: I. Purpose; Statement. The proceeds of the Certificates will be used to finance the Imrclmsc of various equipment for the City (the "Equipment"). As of the date hereof, all of the rcpresclmttions and statements of fact contained in the resolution adopted by the City Council on December 14, 2004 (the "Resolution"), relating to the Certificates are true and correct, and m~thing has occurred between the date of adoption of the Resolution and the date hereof to cause any expectation or covenant stated in the Resolution to become unlikely or impossible of occu n'cnce or performance, unreasonable or otherwise invalid. 2. Proceeds and Uses. The Certificates were delivered and paid for on the date of this (Tee't iii cate. The total sale proceeds of the Certificates (i.e., the issue price of the Certificates or the o fi'ering price o/' the Certificates to the public) is $ ., which together with ~!cc~ ucd interest ($ ) and earnings thereon (estimated to be $ ), do not c'xcccd thc total of: (i) Equipment; , estimated total financeable costs of the acquisition of the (ii) $ ., expenses anticipated to be incurred in connection with the issuance of the Certificates, including Underwriting Compensation as defined below; and (ii i) $ , accrued interest. "tJndcrwriting Compensation" is the difference between the amount paid by the tmdc~-w~-itcr in purchasing the Certificates from the Issuer and any amount of the issue price or n:o ITeri ~g price oF the Certificates to the public. 3. Governmental Purposes; No Over-issuance. The stated purposes of the Ccrfi fi calcs are governmental purposes within the meaning of applicable law and regulations. Thc "Sale Proceeds" o f the Certificates (i.e., the issue price of the Certificates less accrued interest); loss any amounts used to pay issuance expenses, together with estimated earnings lhcroom xvill not exceed the estimated dollar cost of acquiring the Equipment less all other funds lo bc expended for paying such costs. I J i 459.q',' I