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CITY OF RAMSEY CONDUIT DEBT POLICY TERM & CONDITIONS FOR THE ISSUANCE OF CONDUIT DEBT Municipalities may be asked by not-for-profit and other entities to issue pass-through, conduit debt. These projects are not projects of the governmental unit but ora separate corporation. In order to expedite the assistance that the City of Ramsey can offer and to avoid a resource drain on the City of Ramsey requires the following: Thc corporation wishing assistance must first request that the Financial Officer of the City review their proposal and provide the information and deposit the fee detailed below. After the Financial Officer reviews the proposal the applicant may then request that the City Attorney review their proposal and grant permission to move forward to the public hearing stage. Thc applicant must provide to the Financial Officer documentation about the entity requesting the assistance, the project, and the proposed financing method. The City also requires that the applicant assume all of the costs incurred by the City in examining the legal and fiscal aspects of the project as well as ongoing monitoring and reporting of outstanding bonds once issued. The applicant must make a deposit of one fourth of one percent (1/4%) of the proposed issuance amount with a minimum deposit of $500 and a maximum deposit of $12,500. These funds will be applied against the costs incurred by thc City tbr staff time, its consultants, and any other expenses caused by the proposal. If the application is denied, the deposit amount in excess of these costs will be refunded to the applicant. If the application is approved, the full deposit will be retained to additionally cover costs of issuance and future monitoring. In the event the City's actual c¢~sts exceed the deposit amount, the applicant will be required to reimburse these additional amounts. ~l-hc corporation should be prepared to demonstrate to the Ramsey City Council how the proposed project will benefit the community. The corporation may request to be placed on thc City' s agenda by: contacting the City of Ramsey at (763) 427-1410, submitting a letter outlining the request, and appearing before the Ramsey City Council when the request is heard. It' permission is granted by the City, the bond attorney for the issue must: Bc the City's Bond Council: Briggs & Morgan, w2200 First National Bank Building, 332 Minnesota Street, St. Paul, MN 55101. (651) 808-6600 Provide to the City a written statement indicating that the documents have been appropriately prepared, all concerns of the City and points covered by this document have been addressed, and it is acceptable for the City to adopt the