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1I0VEMBER 1993, VOLUME 8, 110. 11 CITY OF RAMSEY BOND RATING UPGRADED TO A I Indicates Sound Fiscal Decisions The City of Ramsey's general obligation bond rating was reviewed by Moody's Investors Service on Friday, October 8, 1993 and was increased from A to A 1. This review was done in conjunction with the sale of $2,250,000 General Obligation Tax Increment Refunding Bonds. This issue is a crossover refund of the 1997-07 maturities of the City's S~s 1987 Tax Increment Bonds for an estimated net present value savings of $160,558. The last rating change for the City was in 1985 when the rating was upgraded from Baa1 to A. Councilmember Sheila Beyer reports that "the p.1. ~L,ent City Council has been aggressively pursuing this goal the past three ..)s, expanding upon the efforts of elected officials on past Councils." Generally, rating increases require either a formal presentation to Moody's in New York or an actual on-site visit from Moody's analysts. This rating increase is a direct result of a detailed review of the City's financial position and the following factors identified by Moody's: Financial operations are strong, as highlighted by conservative budgeting practices along with fiscally responsible policies that result in the building and maintenance of sizeable reserve levels in the various operating funds. Debt burden is moderately above average when taking into consideration all crossover debt; however, all outstanding direct debt obligations receive additional support from special assessment and tax increment revenue. Despite optimistic projections for future residential development, significant additional borrowing is not anticipated. Future improvements are expected to be developer financed or funded from internal resources. Existing debt service requirements are retired at a rapid rate. The City continues to experience rapid residential development contributing to steady tax base growth over the past several years. Building permit activity is currently at record levels and prospects for future development are favorable, given the availability of developable land and the City's proximity to Minneapolis-St. Paul. Resident wealth and housing values are above average. The Mayor and City Council are proud to report that this bond rating increase ranks Ramsey among the top when compared with the bond ratings of I'""') cities in Anoka County. It also places the City favorably when compared t..r.rl'other cities of comparable size in the State. According to Ramsey Finance Committee Chair Ken Peterson, "The effect of a bond rating increase is a reduction on interest paid by the City when it borrows money. This generally corresponds to a reduction in costs incurred by the City and therefore less tax burden on residents and businesses than would otherwise be the case." 4 DOG COMPLAINTS AND LICENSING There have been numerous complaints lately regarding dogs barking and dogs that are not on a leash. It has been requested that we provide residents with the applicable portion of the ordinance. "RUNNING AT LARGE" means any dog which is not either: . Effectively contained on private property; or . Effectively restrained, by chain or leash, to private property with the consent of the property owner; or . Effectively restrained by a chain or leash not to exceed 6 feet in length; or . Under the voice control of its owner. LICENSING All dogs kept, harbored, or maintained in the City of Ramsey shall be licensed and registered. Applications for licenses shall be made to the City Clerk upon forms provided by the Clerk. Said application shall require the owner, among other information required by the City Clerk, to supply the name, age, predominant breed, sex, color and marking of each dog sought to be licensed. DOGS DISTURBING THE PEACE It shall be unlawful for any person to own, keep, have in possession, or harbor any dog which howls, yelps, or barks to the reasonable annoyance of another person or persons. Any person violating this section, who upon first requested by a Police officer or Animal Control Officer to stop or prevent the annoyance, and refuses to comply with the request will be issued a citation or arrested in accordance with Minnesota Rules of Criminal Procedure, and, if the officer deems it necessary to stop the annoyance, may have the dog taken to the City animal pound. If you have any questions call Zoning Administrator Sylvia Frolik at 427-1410. If you have complaints or an animal that needs to be picked up, call the Police Department at 427-6812. CITY OFFICES WILL BE CLOSED ON THURSDAY, NOVEMBER 11TH\IN ~L:f."--'" OBSERVANCE OF VETERAN'S DAY AND '., . . THURSDAY, NOVEMBER 25TH IN " '. {; OBSERVANCE OF THANKSGIVING DAY.;. ." .