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To the City Council of the City of Ramsey, Anoka County, Minnesota <br /> <br />Attn: <br /> <br />City Administrator <br /> <br />Re: $170,000 General Obligation Improvement Bonds of 1984 <br /> <br />Gentlemen: <br /> <br /> The undersigned, as Purchaser of $170,000 in principal amount of the <br />above-captioned bonds (Bonds) pursuant to a resolution of the City Council <br />adopted on June 26, 1984 (Resolution), hereby represents to you and to <br />LeFevere, Lefler, Kennedy, O'Brien & Drawz, a Professional Association, <br />Minneapolis, Minnesota, as follows: <br /> <br /> I. We have sufficient knowledge and experience in financial and <br />business matters, including purchase and ownership of municipal and other <br />tax-exempt obligations, to be able to evaluate the risks and merits of the <br />investment represented by the purchase of the above-stated principal amount <br />of the Bonds. <br /> <br /> 2. We understand that the Bonds are payable as to principal and <br />interest from special assessments against benefited property, and from ad <br />valorem tax levies. <br /> <br /> 3. We acknowledge that we have either been supplied with or have <br />access to information, including financial statements and other financial <br />information, to which a reasonable investor would attach significance in <br />making investment decisions, and we have had the opportunity to ask ques- <br />tions and receive answers from knowledgeable individuals concerning the <br />City, the Bonds and the security therefor, so that as a reasonable investor <br />we have been able to make our decision to purchase the above-stated princi- <br />pal amount of the Bonds. <br /> <br /> 5. We represent to you that ye are purchasing the Bonds for our own <br />account and for resale or other distribution thereof. <br /> <br />Dated: <br /> <br /> Purchaser <br /> <br />By: <br /> <br />Its <br /> <br />13 <br /> <br /> <br />