Resolution - #91-03-068 - 03/13/1991

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Councilmember Peterson introduced the following resolution and moved for its adoption: RESOLUTION #91-03-068 RESOLUTION TO COMMISSIONER OF TRANSPORTATION REQUESTING A BOND RECORD WHEREAS, the City of Ramsey, Anoka County, Minnesota has issued and sold bonds, dated March 13, 1991, in the amount of $500,000.00 exclusively for the purpose of establishing, locating, relocating, constructing, reconstructing or improving its State-Aid Highways or Streets in accordance with law; and WHEREAS, said City of Ramsey has irrevocably pledged to the sinking fund from which said obligations are payable, that amount of their future State-Aid allotments as is permissible by law and needed to pay the principal and interest thereon; which principal payments shall be made from the regular construction account of such State-Aid fund and the interest payments made from their Regular State-Aid maintenance account, all as detailed herein: ,YEAR DATE PRINCIPAL INTEREST TOTAL DUE 1992 March 13 $100,000.00 $36,000.00 $136,000.00 1993 March 13 $100,000.00 $28,800.00 $128,800.00 1994 March 13 $100,000.00 $21,750.00 $121,750.00 1995 March 13 $100,000.00 $14,500.00 $114,500.00 1996 March 13 $100,000.00 $ 7,300.00 $107,300.00 NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the Commissioner of Transportation is hereby requested to keep a bond record in the Commissioner's office for the City of Ramsey. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Hardin and upon vote being taken thereon, the following voted in favor thereof: Mayor Gilbertson Councilmember Peterson Councilmember Hardin Councilmember Cich Councilmember Beyer and the following voted against the same: None and the following abstained: None and the following were absent: None