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FINANCE COMMITTEE <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br /> <br />The Ramsey Finance Committee conducted a regular meeting on Tuesday October 10, 2000, at <br />the Ramsey Municipal Center, 15153 Nowthen Boulevard NW, Ramsey, Minnesota. <br /> <br />Members Present: <br /> <br />Mayor Thomas Gamec <br />Councilmember Susan E. Anderson <br />Councilmember Margaret Connolly <br />Councilmember Terry Hendricksen <br />Councilmember Gerald Zimmerman <br /> <br />Also Present: <br /> <br />Assistant City Administrator Kim Moore-Sykes <br />Finance Officer Diana Lund <br /> <br />CALLTO ORDER <br /> <br />Mayor Gamec called the regular meeting of the Finance Committee to order at 5:10 p.m. <br /> <br />CITIZEN INPUT <br /> <br />There was Done. <br /> <br />COMMITTEE BUSINESS <br /> <br />Case #I: Award Contract for Financial Advisory Services <br /> <br />Finance Officer Lund stated that on September 11, 2000, staff solicited proposals for financial <br />advisory services by distributing the "Request for Proposal - Financial Advisory Services" to the <br />firms of Springsted Public Finance Advisors and Juran and Moody. Proposals were sent out at <br />this time, as the City had not solicited proposals on financial services for several years. The City <br />wanted to review what was available in the marketplace for financial services. Proposals were <br />due by Friday, September 22, 2000. Both Springsted and Juran and Moody returned a proposal <br />of services offered and a fee schedule. The Financial Advisor selection was discussed briefly at <br />the Finance Committee meeting on September 26, 2000, but was tabled for a later period when <br />there would be more time for open discussion. The City of Ramsey uses a financial consultant <br />not only in the structuring and issuance of bonds, but for the assistance in projects such as <br />revenue forecasting, cash analysis for applications like tax increment financing, and for any <br />special projects which the City has inquires about possible funding .alternatives. The financial <br />consultant works closely with the City's bond attorney (Briggs & Morgan) in several of the <br />projects listed above. The City has recently used a financial consultant for the sale and Lease of <br /> <br />Finance Committee/October 10, 2000 <br /> Page 1 of 5 <br /> <br /> <br />