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DISBURSEMENT REQUEST <br /> <br />TO: U.S. BANK NATIONAL ASSOCIATION <br /> <br />DISBURSEMENT DIRECTION <br /> <br /> The undersigned Authorized Officer of the City of Ramsey, Minnesota, hereby authorizes <br />and requests you to disburse from the Construction Fund created by a Indenture of Trust, dated <br />as of June 1, 2005 between the Economic Development Authority of the City of Ramsey, <br />Minnesota and U.S. Bank National Association, as Trustee, relating to the issuance by the <br />Authority of $19,200,000.00 Public Project Lease Revenue Bonds, Series 2005A(City of <br />Ramsey, Minnesota. Lease Obligation) and in accordance with Section 3.3 of the Lease <br />Agreement dated June 1, 2005 between the Authority and the City (the "Lease".), the sums <br />indicated in Exhibit A to be paid to the parties listed therein in payment and/or reimbursement <br />for payment for the work described therein. A copy of each bill setting forth each item of Cost to <br />be paid or reimbursed (and in the case of reimbursement evidence of payment of such item of <br />Cost) as herein provided is attached hereto and incorporated herein by reference. <br /> <br /> l hereby certify that: <br /> (a) each item of Cost for which payment or reimbursements is herein requested was <br />necessary in connection with the Project and has not formed the basis for any previous payment <br />from the Construction Fund; <br /> <br /> (b) with respect to all Cost items incurred under any construction contract providing for <br />the retention of a portion of the contract price the total amount certified for payment or <br />reimbursement of such Project Costs does not exceed the net contract price after deducting any <br />portion to be withheld; and <br /> <br />Dated: July 12, 2005 <br /> <br />CITY OF RAMSEY, MINNESOTA <br /> <br />Approved by First American Title Insurance Com~x~.~y,~ursing Agent. <br /> <br />By <br /> <br />[ts <br /> <br /> <br />