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L. TALLE <br />VIRGIL C. HLRRICR <br />ROBERT MUNNS <br />WILLIAM R. GOODRICH <br />DAVID P. MCWM•N <br />DOUGLAS LRLINT <br />October 6, 1980 <br />LAW orrICCG <br />TALLE, HERRICK, MUNNS & GOODRICH <br />/n o°rna <br />n <br />Mr. Charles L. TPFevere <br />SERE TEFLER PEARSON O'BRIFN & DRP1WZ <br />Attorneys at Law <br />1100 First National Bank Building <br />Minneapolis, Minnesota 55402 <br />• RE: City of Ramsey General Obligation Improvement Bonds of 1980; <br />Second Issue <br />3I45 CAST MAIN STREET <br />ANOKA, MINNESOTA 55303 <br />421 -5419 <br />6279 UNIVCRSITT AVCNUC M.C. <br />FRIDLEY, MINNESOTA 55432 <br />/t ' r, <br />O C r <br />Dear Mr. LeFevere: <br />I would like to take this opportunity to confirm in writing that the City of <br />Ramsey needs additional improvement project funds. The funds will be used <br />for blacktop street improvements on the following streets and projects: <br />Project Total Cost <br />80-15 (Country Side Estates Streets) $ 201,500.00 <br />80 -16 (153rd, 154th, Zirconium and Xeon Streets) 110,000.00 <br />ah e costs shown above do include engineering and administrative expense. There - <br />ore, the total contract amount needed by the City for this bond issue will be <br />$311,500.00. This total amount is based on the city engineer's cost estivate. <br />Bids will be received by the City on October 20, 1930. <br />Because the projects will not be completed in time to assess out in 1980, funds <br />in addition to the $311,500.00 will be needed for capitalized interest. I would <br />appreciate your determining the anuunt you deem appropriate for such capitalized <br />interest. <br />On September 30, 1980 the City Council at a special meeting passed a Resolution <br />providing for the issuance and sale of G. O. Improvement;bonds in order to finance <br />the two projects. - The Council authorized the appropriate publications for the <br />sale and set the sale for Tuesday, October 28, 1980 at 7:30 p.m., at the Ramsey <br />City Hall. <br />