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H. WHEREAS, the City has retained Ehlers & Associates, Inc., in Roseville,
<br /> Minnesota ("Ehlers"), as its independent financial advisor for the sale of the Bonds and was
<br /> therefore authorized to sell the Bonds by private negotiation in accordance with Minnesota
<br /> Statutes, Section 475.60, Subdivision 2(9)and proposals to purchase the Bonds have been solicited
<br /> by Ehlers; and
<br /> L WHEREAS, the proposals set forth on Exhibit A attached hereto were received by
<br /> the City Administrator, or designee, at the office of Ehlers, at 11:00 A.M. on the date hereof,
<br /> pursuant to the Preliminary Official Statement for the Bonds, dated October 24, 2023; and
<br /> J. WHEREAS, it is in the best interests of the City that the Bonds be issued in book-
<br /> entry form as hereinafter provided; and
<br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ramsey,
<br /> Minnesota, as follows:
<br /> 1. Acceptance of Proposal. The proposal of Robert W. Baird & Co. Incorporated,
<br /> Milwaukee, Wisconsin (the "Purchaser"), to purchase the Bonds in accordance with the
<br /> Preliminary Official Statement, at the rates of interest hereinafter set forth, and to pay therefor the
<br /> sum of $8,536,005.31, plus interest accrued to settlement, is hereby found, determined and
<br /> declared to be the most favorable proposal received and is hereby accepted and the Bonds are
<br /> hereby awarded to the Purchaser. The Finance Director is directed to retain the deposit of the
<br /> Purchaser.
<br /> 2. Bond Terms.
<br /> (a) Original Issue Date; Denominations; Maturities; Term Bond Option. The Bonds
<br /> shall be dated November 15, 2023, as the date of original issue and shall be issued forthwith on or
<br /> after such date in fully registered form, shall be numbered from R-1 upward in the denomination
<br /> of $5,000 each or in any integral multiple thereof of a single maturity (the "Authorized
<br /> Denominations") and shall mature on December 15 in the years and amounts as follows:
<br /> Year Amount Year Amount
<br /> 2024 $405,000 2032 $645,000
<br /> 2025 455,000 2033 675,000
<br /> 2026 480,000 2034 530,000
<br /> 2027 505,000 2035 550,000
<br /> 2028 530,000 2036 570,000
<br /> 2029 560,000 2037 595,000
<br /> 2030 585,000 2038 620,000
<br /> 2031 610,000
<br /> As may be requested by the Purchaser, one or more term Bonds may be issued having
<br /> mandatory sinking fund redemption and final maturity amounts conforming to the foregoing
<br /> principal repayment schedule, and corresponding additions may be made to the provisions of the
<br /> applicable Bond(s).
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