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<br />
<br />E.WHEREAS, the City will determine, in accordance with Minnesota Statutes,
<br />Section 475.521, Subd. 4, that the maximum principal and interest to become due in any year on
<br />the Outstanding CIP Bonds and Bonds issued by the City under Minnesota Statutes, Section
<br />475.521, will be less than 0.16 percent of the estimated market value of property in the City; and
<br />
<br />F.WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville,
<br />Minnesota ("Ehlers"), as its independent municipal advisor for the sale of the Bonds and was
<br />therefore authorized to sell the Bonds by private negotiation in accordance with Minnesota
<br />Statutes, Section 475.60, Subdivision 2(9) and proposals to purchase the Bonds have been
<br />solicited by Ehlers; and
<br />
<br />G.WHEREAS, the proposals set forth on Exhibit A attached hereto were received
<br />by the Administrator, or designee, at the offices of Ehlers at 10:30 A.M. this same day pursuant
<br />to the Preliminary Official Statement for the Bonds, dated November 15, 2020; and
<br />
<br />H.WHEREAS, it is in the best interests of the City that the Bonds be issued in book-
<br />entry form as hereinafter provided; and
<br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Ramsey,
<br />Minnesota, as follows:
<br />1. Acceptance of Proposal. The proposal of Northland Securities, Inc.,
<br />Minneapolis, Minnesota (the "Purchaser"), to purchase the Bonds, in accordance with the
<br />Preliminary Official Statement established for the Bonds, at the rates of interest hereinafter set
<br />forth, and to pay therefor the sum of $8,973,887.92, plus interest accrued to settlement, is hereby
<br />found, determined and declared to be the most favorable proposal received, is hereby accepted
<br />and the Bonds are hereby awarded to the Purchaser. The Finance Director is directed to retain
<br />the deposit of the Purchaser and to forthwith return to the unsuccessful bidders their good faith
<br />checks or drafts.
<br />2. Bond Terms.
<br />
<br />(a)Original Issue Date; Denominations; Maturities; Term Bond Option; Debt
<br />Limitations. The Bonds shall be dated December 30, 2020, as the date of original issue, be
<br />issued forthwith on or after such date in fully registered form, be numbered from R-1 upward in
<br />the denomination of $5,000 each or in any integral multiple thereof of a single maturity (the
<br />"Authorized Denominations"), and shall mature on December 15 in the years and amounts as
<br />follows:
<br />Maturity Year Amount Maturity Year Amount
<br />
<br />2032 $860,000 2037 $905,000
<br />2033 865,000 2038 920,000
<br />2034 875,000 2039 935,000
<br />2035 885,000 2040 950,000
<br />2036 895,000 2041 965,000
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