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<br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF CENTERVILLE, MINNESOTA <br /> <br />HELD: July 22, 2009 <br /> <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City <br />ofCenterville, Minnesota was duly called and held at the City Hall in said City on the 22nd day <br />of July, 2009, at 6:30 o'clock PM. <br /> <br />The following members were present: <br /> <br />and the following were absent: <br /> <br />Member <br /> <br />introduced the following resolution and moved its adoption: <br /> <br />CITY OF CENTERVILLE, MINNESOTA <br /> <br />RESOLUTION NO. <br /> <br />RESOLUTION ACCEPTING PROPOSAL ON THE SALE OF $3,715,000 GENERAL <br />OBLIGATION TAXABLE IMPROVEMENT BONDS, SERIES 2009A (BUILD <br />AMERICA BONDS), PROVIDING FOR THEIR ISSUANCE AND PLEDGING FOR <br />THE SECURITY THEREOF CERTAIN REVENUES. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CENTERVILLE <br />(the "City") AS FOLLOWS: <br /> <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 /> <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 /> <br />C. WHEREAS, the City determines and declares that it is necessary and desirable to <br />issue its General Obligation Taxable Improvement Bonds, Series 2009A (Build America Bonds) <br />(the "Bonds") in a principal amount of $3,715,000 to finance its costs of constructing the Project; <br />and <br />