Resolution - #93-09-177 - 09/14/1993

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I I I I I I I I$ I I I I I I I i$ Extract of Minutes of Meeting of the City Council of the City of Ramsey, Anoka County, Minnesota Co~ncilmember Zimmerman [ Purs~nt to due call and notice thereof a regular meeting of the City Council of the City ~f Ramsey, Anoka County, Minnesota, was held at the City Hall irt the City on TueSday, September 14, 1993, commencing at 7:00 P.M. The f,~llowing members of the Council were present: Mayor !Gi~bertson Counci~member Hardin Cou_n¢~lmember Beyer Councilmember Peterson and the folldwing were absent: None The following written resolution was presented by Councilmember Peterson who moved its adoption the reading of which had been dispensed with by unanimous consent: RESOLUTION NO. 93-09-177 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE:OF APPROXIMATELY $2,250,000 GENERAL OBLIGATION TAX INCREMENT REFUNDING BONDS, SERIES 1993A BE ITi RESOLVED by the City Council of the City of Ramsey, Anoka County, Minnesota (City) as follows: 1. i It is determined that: [ . ~ (a) § The City is authorized by the provisions of Minnesota Statutes, Chap,~r ~17 (Act) and Section 475.67, Subdivisions 4 through 12 of the Act to iss~te ,and sell its general obligation bonds to refund outstanding bonds when ~determined by the City Council to be necessary and desirable for the reduction of debt service or interest cost and the adjustment of maturities of outst4~nding issues of bonds. F(b) It is necessary and desirable for the reduction of interest cost and ,the ,~djustment of maturities of bonds that the City issue $2,250,000 Gene~l Obligation Tax Increment Refunding Bonds, Series 1993A (Bonds) to refun~l i": advance of maturity certain outstanding general obligations of the City. SN~58320 RA125-35