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CITY COUNCIL <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br /> <br />The Ramsey City Council conducted a special meeting on Tuesday, March 21, 1995, at the <br />Ramsey Municipal Center, 15153 Nowthen Boulevard N.W., Ramsey, Minnesota. <br /> <br />Members Present: <br /> <br />Mayor Glen Hardin <br />Councilmember Carolyn Beahen <br />Councilmember Sheila Beyer <br />Councilmember Kenneth Peterson <br />Councilmember Gerald Zimmerman <br /> <br />Also Present: <br /> <br />City Administrator Ryan Schroeder <br />Finance Officer Jessie Hart <br />Gerard Shannon, Springsted, Inc. <br /> <br />CALL TO ORDER <br /> <br />Mayor Hardin called the special meeting of the Ramsey City Council to order at 6:45 p.m. <br /> <br />CITIZEN INPUT <br /> <br />None <br /> <br />APPROVE AGENDA <br /> <br />Consensus was to approve the agenda as presented. <br /> <br />COUNCIL BUSINESS <br /> <br />Case gl: Sale of Sunwood Bond Issue (Anoka Electric Cooperative) <br /> <br />Finance Officer Hart stated that Council had previously authorized a $2.6 million bond sale <br />set for today's date. Springsted, Inc. dealt with the competitive bidding. <br /> <br />Mr. Gerard Shannon, Springsted, Inc., stated that they received a total of nine bids which <br />is indicative of the City's A-1 Rating which was reconfirmed by Moody's Municipal; the <br />rating is attractive to the investing public. Smith Barney submitted the best bid - 5.48% <br />with a net interest cost of $1,349,879. Mr. Shannon recommended awarding the sale of <br />the bond to Smith Barney. <br /> <br />Motion by Councilmember Peterson and seconded by Councilmember Beyer to adopt <br />Resolution g95-03-050 awarding the sale of $2,600,000 General Obligation Tax Increment <br />Bonds, Series 1995A to Smith Barney, Inc. <br /> <br />Motion carried. Voting Yes: Mayor Hardin, Councilmembers Peterson, Beyer, Beahen <br />and Zimmerman. Voting No: None. <br /> <br />ADJOURNMENT <br /> <br />Motion by Councilmember Beyer and seconded by Councilmember Beahen to adjourn the <br />meeting. <br /> <br />City Council/March 21, 1995 <br /> Page 1 of 2 <br /> <br /> <br />