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<br />FINANCE COMMITTEE <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br /> <br />The Finance Committee conducted a regular meeting on Tuesday, March 25, 2008, at the <br />Ramsey Municipal Center, 7550 Sunwood Drive NW, Ramsey, Minnesota. <br /> <br />Members Present: <br /> <br />Chairperson Sarah Strommen <br />Councilmember David Elvig <br />Councilmember Matt Look <br /> <br />Also Present: <br /> <br />City Administrator Kurt Ulrich <br />Finance Officer Diana Lund <br />Mark Ruff, Ehlers and Associates <br />Karen Skepper, Anoka County HRA <br />Asst. Comm. Development Dir./HRA Exec. Director Sylvia Frolik <br /> <br />CALL TO ORDER <br /> <br />Chairperson Strommen called the regular meeting of the Finance Committee to order at 5:32 <br />p.m. <br /> <br />CITIZEN INPUT <br /> <br />There was none. <br /> <br />APPROVE AGENDA <br /> <br />Motion by Councilmember Elvig, seconded by Councilmember Look, to approve the agenda as <br />submitted. <br /> <br />Motion carried. Voting Yes: Chairperson Strommen, Councilmembers Elvig and Look. Voting <br />No: None. <br /> <br />COMMITTEE BUSINESS <br /> <br />Case #1: <br /> <br />Refinancing of Anoka County HRA Bonds Relating to the Savannah Oaks <br />Senior Housing Project <br /> <br />Finance Officer Lund stated that this item 'was discussed at one of the January 2008 Council <br />meetings. She stated that the County is looking to refinance the bonds related to the senior <br />housing project. She stated that part of the refinancing would take the general obligation away <br />from the City and move it to the County, which would also remove the City from the priority list <br />for residency. She stated that the County has asked if the City would like to use $320,000 <br />collected from prior HRA levy collections to pay down the debt. <br /> <br />Finance Committee / March 25, 2008 <br />Page 1 of5 <br />