Resolution - #85-032 - 02/27/1985

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Members of the City Council Sale Date: February 27, 1985 City of Ramsey, Minnesota Members of the City Council: For all or none of the principal amount of $705,000* General Obligation Improvement Bonds of 1984, Series II of your City, legally issued and as described in the Official Notice of Sale, we will pay the City $ ~0q~.~.oO (not less than $694,000') plus accrued interest on thd total principal of $705,000* to date of delivery, provided the Bonds bear the following interest rates: Year Amount Rate Year Amcunt Rate 1986 $ 95,000 4.oo % 1990 $105,000 ~.~q % 1987 90,000 ~.~ % 1991 105,000 q.~O % 1988 105,000 ' ].oO % 1992 105,000 '].q~ % 1989 100,000 ~,[O % The Bonds mature on April 1 in each of the years as indicated above and interest is payable October 1, 1985, and semiannually thereafter on April 1 and October 1 of each year. This bid is made for prompt acceptance and subject to the conditions of the Official Notice of Sale. We enclose, herewith, our good faith check in the amount of $14,100. *The City reserves the right to increase or decrease the issue size by no more than $20,000 on the date of sale. If the issue size is adjusted, the purchase price will be adjusted proportionately; no single maturity will be adjusted by more than $5,000. The appearance of an "*" throughout this Official Statement refers to this provision. NOT PART OF THE BID Respectfully submitted, Explanatory Note: According to cur computation, this bid involves the ~ollowing: Net Interest Cost Net Interest Rate NORWEST INVESTME~V SERVICES Syndicate Manager n lkenburg, ~ice President (~list of the firms associate~P with us in this bid is on the reverse side of this proposal.) I hereby acknowledge receipt of the above-described good faith check. The foregoing offer is hereby accepted~by and on behalf of the City of/Ramsey, Minnesota, this 27th L~/of Feb~ar), tf .RAmsey - MN220.85a/43