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<br />Councilmember Riley introduced the following resolution and moved for its adoption:
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<br />RESOLUTION #20-297
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<br />EXTRACT OF MINUTES OF A MEETING
<br />CITY COUNCIL OF THE
<br />CITY OF RAMSEY, MINNESOTA
<br />HELD: DECEMBER 8, 2020
<br />Pursuant to due call and notice thereof, a regular or special meeting of the City Council
<br />of the City of Ramsey, Anoka County, Minnesota, was duly held at the City Hall on December 8,
<br />2020, at 7:00 P.M., for the purpose, in part, of authorizing the issuance and awarding the sale of
<br />$9,055,000 General Obligation Capital Improvement Plan Bonds, Series 2020A.
<br />RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $9,055,000
<br />GENERAL OBLIGATION CAPITAL IMPROVEMENT PLAN BONDS, SERIES
<br />2020A AND LEVYING A TAX FOR THE PAYMENT THEREOF
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<br />A.WHEREAS, on October 27, 2020, the City Council of the City of Ramsey,
<br />Minnesota (the "City"), held a public hearing on the proposed issuance of general obligation
<br />capital improvement plan bonds and, pursuant to resolution approved and adopted the 2020
<br />through 2024 Five-Year Capital Improvement Plan (the "Plan"), and approved the issuance of
<br />general obligation capital improvement plan bonds to finance a portion of the costs associated
<br />with the acquisition and betterment of a public works facility (the "Project"), all pursuant to the
<br />Plan and in accordance with the provisions of Minnesota Statutes, Section 475.521; and
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<br />B.WHEREAS, no petition signed by voters equal to five percent of the votes cast in
<br />the City in the last general election requesting a vote on the issuance of the general obligation
<br />capital improvement plan bonds has been filed with the City Clerk within thirty days after the
<br />public hearing on the Plan and on the issuance of the general obligation capital improvement
<br />plan bonds; and
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<br />C.WHEREAS, the City Council hereby determines and declares that it is necessary
<br />and expedient to issue $9,055,000 General Obligation Capital Improvement Plan Bonds, Series
<br />2020A (the "Bonds" or, individually, a "Bond"), pursuant to Minnesota Statutes, Section 475.521
<br />and Chapter 475, to provide funds to finance the Project; and
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<br />D.WHEREAS, the City has previously issued its (i) General Obligation Capital
<br />Improvement Plan Bonds, Series 2012A in the original principal amount of $16,875,000, dated
<br />April 1, 2012, and (ii) General Obligation Capital Improvement Plan Bonds, Series 2015A in the
<br />original principal amount of $3,880,000, dated June 18, 2015, and pursuant to Minnesota
<br />Statutes, Section 475.521 (together, the "Outstanding CIP Bonds"); and
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