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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: September 23, 2009 <br /> <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 23rd day <br />of September, 2009, at 6:30 P.M. <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 />RESOLUTION NO. 09- <br /> <br />RESOLUTION ACCEPTING PROPOSAL ON THE SALE OF $2,475,000 GENERAL <br />OBLIGATION IMPROVEMENT CROSSOVER REFUNDING BONDS, SERIES 2009B, <br />PROVIDING FOR THEIR ISSUANCE AND PLEDGING FOR THE SECURITY <br />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 heretofore issued its $2,700,000 General Obligation <br />Bonds, Series 2006A, dated September 1, 2006 (the "2006 Bonds"), pursuant to a resolution <br />dated August 9, 2006 (the "2006 Bond Resolution"); and <br /> <br />B. WHEREAS, the 2006 Bonds were issued pursuant to Minnesota Statutes, <br />Chapters 429 and 475 to fmance the construction of certain public improvements in the City (the <br />"Project"); and <br /> <br />C. WHEREAS, the City hereby determines and declares that it is necessary and <br />desirable to issue its $2,475,000 General Obligation Improvement Crossover Refunding Bonds, <br />Series 2009B (the "Bonds") pursuant to Minnesota Statutes, Chapter 475, to provide funds to <br />refund in advance of maturity the 2006 Bonds maturing in the years 2011 through 2022; and <br /> <br />9 <br />