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I <br />APPENDIX D <br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF GEM LAKE, MINNESOTA <br />HELD: January 16, 2007 <br />Pursuant to due call and notice thereof, a regular or special. meeting of the City Counoij of <br />City of Gem Lake, Minnesota, was duly called and held at the.. City Hall in -the City of C-Tem, Lake, <br />Mininesota on Tuesday, the 1. 0h day of January, 2007 at 7:00.p.M. for the. purpose, :in part <br />of callIn. 9 <br />a public hearingon the intention to issue. <br />general obligation capital improvement: plan bonds and the <br />proposal to adopt ca* ital. improtveMejit 1p. . an - therefor. <br />The following members. were present: <br />And the following were absent- <br />. Merio* introduced the following -resolution and moved its <br />adoption! <br />kESOLtIT1614 CALLING PUBLIC HEARING -ON <br />THE INTENTION TO ISSUE GENERAL OBLIGATION 'CAPITA <br />.IMPROVEMENT PLAN BONDS AND THE PROPOSAL TO <br />ADOPT A CAPITAL IMPROVEMENT PLAN THEREFOR - <br />A. MinnesotaWHEREAS:pursuatit-toStatutes, Section 475.5.2.1 the City of Gem Lake, <br />4 <br />Minnesota (the "City") may issue bonds to finance capital expenditures under its capital <br />improvement plan (the "Plan"} without an election provided that, among other things, prior to <br />issuing the bonds. the Oty-adopti -the Plan a&r. apuhlic heanng thereon and publikhes aiwfiee of its - <br />intention to issue the bonds and the date and firriq of a hearing to obtain public comment on the <br />matter; and <br />B. WHEREAS, the City Council will hold a publiehearing on its. intention tib <br />issue general obligation capital improvepient- plan bonds (the ."Bondsl and -to adopt - the- Plan <br />therefor pursuant thereto on February 20, * and <br />Ehlers & Associates, Inc. Page 14 <br />