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EXTRACT OF MINUTES OF A MEETING OF THE <br /> CITY COUNCIL OF THE CITY OF CENTERVILLE, MINNESOTA <br /> HELD: December 10, 2014 <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 10th day <br /> of December, 2014, 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. 14- <br /> RESOLUTION ACCEPTING PROPOSAL ON THE SALE OF $1,390,000 GENERAL <br /> OBLIGATION IMPROVEMENT REFUNDING BONDS, SERIES 2015A, PROVIDING <br /> FOR THEIR ISSUANCE AND PLEDGING FOR THE SECURITY THEREOF <br /> CERTAIN 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 heretofore issued its $2,430,000 General Obligation <br /> Improvement Crossover Refunding Bonds, Series 2009B, dated October 1, 2009 (the "2009 <br /> Bonds"), pursuant to a resolution approved on September 23, 2009 (the "2009 Bond <br /> Resolution"); and <br /> B. WHEREAS, the 2009 Bonds were issued pursuant to Minnesota Statutes, chapters <br /> 429 and 475, and the proceeds thereof were used to refund prior bonds issued to finance the <br /> construction of certain public improvements within the City (collectively, the "Project"); and <br /> C. WHEREAS, there is currently $1,770,000 in outstanding principal payable with <br /> respect to the 2009 Bonds; and <br /> 101 <br />