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EXTRACT OF MINUTES OF A MEETING OF THE <br /> CITY COUNCIL OF THE CITY OF CENTERVILLE, MINNESOTA <br /> HELD: May 22, 2013 <br /> Pursuant to due call and notice thereof, a regular meeting of the City Council of the City <br /> of Centerville, Minnesota was duly called and held at the City Hall in said City on the 22nd day <br /> of May, 2013, at 6:30 o'clock P M. <br /> The following members were present: <br /> and the following were absent: <br /> Member introduced the following resolution and moved its adoption: <br /> CITY OF CENTERVILLE, MINNESOTA <br /> RESOLUTION NO. <br /> RESOLUTION ACCEPTING PROPOSAL ON THE SALE OF $1,485,000 GENERAL <br /> OBLIGATION IMPROVEMENT BONDS, SERIES 2013A, PROVIDING FOR THEIR <br /> ISSUANCE AND PLEDGING FOR THE SECURITY THEREOF CERTAIN <br /> REVENUES. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CENTERVILLE <br /> (the "City ") AS FOLLOWS: <br /> A. WHEREAS, the City has authority pursuant to Minnesota Statutes Chapter 429, to <br /> issue its general obligation improvement bonds to finance the construction of public <br /> improvement projects within the City; and <br /> B. WHEREAS, the City desires to finance the construction of various public <br /> improvement projects listed on Exhibit B to this Resolution (collectively, the "Project "), which <br /> improvement projects have been combined into a single improvement for financing purposes, <br /> through the issuance of its general obligation bonds pursuant to Minnesota Statutes, section <br /> 429.091 and Minnesota Statutes, Chapter 475; and <br /> C. WHEREAS, the City determines and declares that it is necessary and desirable to <br /> issue its General Obligation Improvement Bonds, Series 2013A (the "Bonds ") in a principal <br /> amount of $1,485,000 to finance its costs of constructing the Project; and <br />