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Councilmember Pearson <br />adoption: <br /> <br />introduced the following resolution and moved its <br /> <br />RESOLUTION #05- 05-146 <br /> <br />RESOLUTION ACCEPTING OFFER TO PURCHASE <br />$4,335,000 GENERAL OBLIGATION IMPROVEMENT <br />BONDS, SERIES 2005B, PLEDGING SPECIAL <br />ASSESSMENTS FOR THE SECURITY THEREOF AND <br />LEVYING A TAX FOR THE PAYMENT THEREOF <br /> <br /> A. WHEREAS, the City Council of the City of Ramsey, Minnesota (the "City"), has <br />hcretolbre determined and declared that it is necessary and expedient to issue $4,335,000 <br />General Obligation Improvement Bonds, Series 2005B (the "Bonds") of the City, pursuant to <br />Minnesota Statutes, Chapters 429 and 475, to finance a portion of the improvements related to <br />the Rarnsey Town Center Project (the "Improvements"); and <br /> <br /> B. WHEREAS, the Improvements and all their components have been ordered prior <br />to thc date hereof, after a hearing thereon for which notice was given describing the <br />Improvements or all their components by general nature, estimated cost, and area to be assessed; <br />and <br /> <br /> C. WItEREAS, the City has entered into a Joint Powers Agreement with Anoka <br />County, dated ,2004 (the "Joint Powers Agreement"), pursuant to which Anoka <br />County has agreed to pay a portion of the cost of the Improvements financed by the Bonds; and <br /> <br /> D. WHEREAS, the City has retained <br />in , , as its independent financial advisor for the <br />sale of the Bonds and was therefore authorized to sell the Bonds by private negotiation in <br />accordance with Minnesota Statues, Section 475.60, Subdivision 2(9); and <br /> <br /> E. WHEREAS, it is in the best interests of the City that the Bonds be issued in <br />book-entry form as hereinafter provided; and <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF ILAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br /> 1. Acceptance of Offer. The offer of Northland Securities, Inc. (the "Purchaser"), to <br />purchase the Bonds of the City (or individually, a "Bond"), in accordance with the terms and at <br />thc rates of interest hereinafter set forth, and to pay therefor the sum of $ , plus <br />interest accrued to settlement, is hereby accepted. <br /> <br />2. Bond Terms. <br /> <br /> (a) Title; Original Issue Date; Denominations; Maturities; Term Bond Option. The <br />Bonds shall be titled "General Obligation Improvement Bonds, Series 2005B", shall be dated <br />June 1, 2005, as the date of original issue and shall be issued forthwith on or after such date in <br /> <br />1765284vl <br /> <br /> <br />