Agenda - Council - 10/27/2020 - Laserfiche WebLink

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8. Alternatives for providing services more efficiently through shared facilities with other local governmental units; and E. WHEREAS, the City Council has determined that the issuance of general obligation capital improvement plan bonds in the aggregate principal amount of up to $10,000,000 is the best way to finance the capital improvements identified in the Plan. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ramsey, Minnesota, that: 1. The City hereby ratifies the actions of the City Clerk in causing the publication of the Notice of Public Hearing to be published in the official newspaper of the City or in a newspaper of general circulation in the City as required by law; and 2. The City hereby adopts the Plan and authorizes the issuance of up to $10,000,000 aggregate principal amount of general obligation capital improvement plan bonds. 3. The City has retained Ehlers & Associates, Inc., in Roseville, Minnesota ("Ehlers"), as its independent municipal advisor for the approximately $9,935,000 General Obligation Capital Improvement Plan Bonds, Series 2020A(the "Bonds") in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9) to finance the capital improvements identified in the Plan. The City Council hereby authorizes Ehlers to assist the City for the sale of the Bonds. The City Council shall meet at 7:00 p.m. on December 8, 2020, for the purpose of considering proposals for and awarding the sale of the Bonds. In connection with said sale, the officers or employees of the City are hereby authorized to cooperate with Ehlers and participate in the preparation of an official statement for the Bonds and to execute and deliver it on behalf of the City upon its completion. The motion for the adoption of the foregoing resolution was duly seconded by councilmember and, after full discussion thereof and upon a 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 the resolution was declared duly passed and adopted by the Ramsey City Council this the 27th day of October, 2020. [Bonds must be approved by at least a three -fifths vote of the membership.] [Issuance of Bonds is subject to a 30-day reverse referendum after the public hearing.] 2 12908483v1