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WHEREAS <br />H., it is in the best interests of the City that the Bonds be issued in <br />book-entry form as hereinafter provided; and <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br />1.Acceptance of Proposal. <br /> The proposal of Piper Sandler & Co., in Minneapolis, Minnesota (the "Purchaser"), to <br />purchase the Bonds, in accordance with the Preliminary Official Statement established <br />for the Bonds, at the rates of interest hereinafter set forth, and to pay therefor the sum of <br />$10,590,850.52, plus interest accrued to settlement, is hereby found, determined and <br />declared to be the most favorable proposal received, is hereby accepted and the Bonds are <br />hereby awarded to the Purchaser. The Finance Director is directed to retain the deposit of <br />the Purchaser. <br /> <br />2.Terms of Bonds. <br /> <br />(a)Original Issue Date; Denominations; Maturities; Debt Limitations. The Bonds <br />shall be dated October 19, 2021, as the date of original issue, be issued forthwith on or after such <br />date in fully registered form, be numbered from R-1 upward in the denomination of $5,000 each <br />or in any integral multiple thereof of a single maturity (the "Authorized Denominations") and <br />mature on December 15 in the years and amounts as follows: <br />Year Amount Year Amount <br /> <br />2022 $ 785,000 2027 $1,010,000 <br />2023 865,000 2028 1,045,000 <br />2024 910,000 2029 1,070,000 <br />2025 955,000 2030 1,100,000 <br />2026 985,000 2031 1,120,000 <br /> <br />As may be requested by the Purchaser, one or more term Bonds may be issued having <br />mandatory sinking fund redemption and final maturity amounts conforming to the foregoing <br />principal repayment schedule, and corresponding additions may be made to the provisions of the <br />applicable Bond(s). <br />The Bonds, together with any outstanding bonds of the City that are subject to the City's <br />net debt limit, do not exceed the City's net debt limit. <br /> <br />(a)Book Entry Only System. The Depository Trust Company, a limited purpose <br />trust company organized under the laws of the State of New York or any of its successors or its <br />successors to its functions hereunder (the "Depository") will act as securities depository for the <br />Bonds, and to this end: <br /> <br />(i)The Bonds shall be initially issued and, so long as they remain in book entry form <br />only (the "Book Entry Only Period"), shall at all times be in the form of a separate <br />single fully registered Bond for each maturity of the Bonds; and for purposes of <br /> 2 <br /> <br />71128706v1 <br /> <br /> <br />