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AGREEMENT <br /> <br />~6IS AGREEMENT made and entered into this 1st day of March, 1984, by and between <br />the City of Ramsey, hereinafter referred to as "City", and the City's Admini- <br />strative Trust Fund. <br /> <br /> WHEREAS, the City of Ramsey, in order to meet certain obligations as a <br />result of purchasing computer software, computer hardware and ancillary support <br />equipment (Please see Exhibit "A" for list of equipment and software), needs to <br />borrow funds; and <br /> <br /> WHEREAS, the Administrative Trust Fund has adequate funds to loan the <br />City's General Fund to be used for the purpose stated above. <br /> <br />NOW ~HEREFORE, upon the following terms and conditions, it is hereby agreed as <br />follows: <br /> <br /> 1) The City's General Fund, for its use, borrows $54,702.00 for the <br />purchase of items as listed in Exhibit "A". <br /> <br /> 2) Such sums as are borrowed shall bear interest from the date the <br />City's General Fund borrows the funds from the Administrative Trust Fund and the <br />interest rate which the fund loaned to the City's General Fund shall be adjusted <br />on a yearly basis. Tne interest rate shall be the average paid on invested City <br />funds for the previous year. <br /> <br /> 3) Said funds shall be repaid to the Administrative Trust Fund in <br />equal principal installments over a period of five (5) years with the first in- <br />stallment due on the 15th day of December, 1985. <br /> <br />IN WITNESS WHEREOF, the parties hereto have caused these presents to be executed <br />by authorized officials. <br /> <br /> <br />