Resolution - #93-08-164 - 08/24/1993

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Councilmeml~ar ~rnmerman introduced the following resolution and moved for its adoption: i ! RESOLUTION g93-08-164 RESOLUTI[oN: AUTHORIZING PROCESS TO CONTINUE REFUNDING $2,800,000"~.O. TAX INCREMENT BONDS, SERIES 1987A WH~. F~S, thc fmancial advisory fu'm of Springsted periodically reviews the City of Ramsey bond~sslies and makes recommendations pertaining to call features or refundings; and WH~EAS, during these reviews it was noted that it would be beneficial to the City to refund at its c~l d~.te the $2,800,000 G.O. Tax Increments Bonds, Series 1987A; and WH']~ F~ S, at the Economic Development Authority meeting on August 16, 1993, Bob Thistle of Sl~ngSted reviewed the benefits of refunding this issue with all members present and based on th .e~' fat~ts, staff recommended that the City proceed with the refunding; and WH.r~ EAS, the Economic Development Authority approved this recommendation and hereby reco ~ rm~_et~ds that the Ramsey City Council approve the continuation of refunding the G.O. Tax Incremea~,t, BOnds, Series 1987A. NOW TH~I~EffORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMS'~Y, ::ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That t~e Rarnsey City Council hereby directs Staff to continue the process of refunding the G.O ~ ,I~crement Bonds, Series 1987A. The mofion.f~r the adoption of the foregoing resolution was duly seconded by Councilmember Beyer and uPO~n vote being taken thereon, the following voted in favor thereofi MayO~- Cfiibertson Cou~fim0mber Zimmerman Coun~ber Beycr Counc~aber Hardin and the follov~ingVoted against the same: None! None and the folloWing ~were absent: Counciln~mber Peterson whereupon ~d rosolution was declared duly passed and adopted by the Ramsey Ci y Council this ~3'tayor ATTEST; '[