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<br />approximately $25,000 in interest earnings. Staff reconunends that Council adopt the resolution <br />authorizing the issuance and awarding the sale of $955,000 General Obligation Tax Increment <br />Refunding Bonds of2007. <br /> <br />Councilmember Stronunen stated it was the recommendation of the Finance Committee that <br />Council adopt the proposed resolution authorizing both of these sales. <br /> <br />Motion by Coul1cilmember Elvig, seconded by Councilmember Look, to ratify the <br />recommendation of the Finance Committee in Case Nos. 1 and 2 and to adopt Resolution #07- <br />02-054 authorizing the issuance and awarding the sale of $790,000 General Obligation <br />Equipment Certificates of 2007, and to adopt Resolution #07-02-055 authorizing the issuance <br />and awarding the sale of $955,000 General Obligation Tax Increment Refunding Bonds of2007. <br /> <br />Further discussion: Mayor Gamec verified with Finance Officer Lund that the new water truck <br />was included in the 2007 budget. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Elvig, Look, Dehen, Jeffrey, <br />Olson, and Strommen. Voting No: None. <br /> <br />Further discussion: Councilmember Elvig stated there have been rumors about Ramsey Town <br />Center and the strife that organization will be going through with 'Mr. Nedegaaxd's death. That is <br />a private company; it is not the City. He has heard that the City is going bankrupt and in severe <br />fmancial rows. He would like to' share the City of Ramsey has a high rating of financial <br />healthiness; only 20% oftbe cities acquire an Aa rating, and the City's rating upgrade will save <br />money on bonds. Councilmember Strommen thanked Finance Officer Lund for ber efforts and <br />the City's upgraded fmancial rating. <br /> <br />3) Authorization of Fire Engine Specifications and to Solicit Bids <br /> <br />Fire Chief Kapler stated the 2007 budget includes funding to replace the first fire apparatus the <br />City of Ramsey purchased in 1989. An internal committee was formed in mid 2006 to create <br />specifications for this vehicle. A great deal of time was spent researching Ramsey's needs, today <br />and in the future. This included visits to other departments to view apparatus, and generate <br />specifications for build. Mr. Kapler stated the following is a summary of the specifications: <br />. 1250 gpm fire engine with rear pump panel <br />. Single rear axle <br />. Crew cab that holds a maximum of 6 firefighters <br />. 1000 gallons of on board water <br />. Foam capable <br />. Diesel engine with minimum of 330 bhp <br />. Meets or exceeds all NFP A standards <br />. Includes all carried hose, nozzles and tools <br /> <br />Fire Chief Kapler stated per state statute, purchases of this sort over $50,000 must go through a <br />sealed bid process. It should be noted that delivery will most likely be in early 2008, although <br />some contracts will ask for prepayments for the chassis. Staff would look forthe delivery of this <br /> <br />City Council / Febrnary 13,2007 <br />Page 17 of25 <br /> <br />P107 <br />