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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 Council of <br />City of Gem Lake, Minnesota, was duly called and held at the City Hall in the City of Gem Lake, <br />Minnesota on Tuesday, the 161" day of January, 2007 at 7:00 p.m. for the purpose, in part, of calling <br />a public hearing on the intention to issue general obligation capital improvement plan bonds and the <br />proposal to adopt a capital improvement plan therefor. <br />The following members were present: <br />And the following were absent: <br />Member <br />adoption: <br />introduced the following resolution and moved its <br />RESOLUTION CALLING PUBLIC HEARING ON <br />THE INTENTION TO ISSUE GENERAL OBLIGATION CAPITAL <br />IMPROVEMENT PLAN BONDS AND THE PROPOSAL TO <br />ADOPT A CAPITAL IMPROVEMENT PLAN THEREFOR <br />A. WHEREAS, pursuant to Minnesota Statutes, Section 475.521 the City of Gem Lake, <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 City adopts the Plan after a public hearing thereon and publishes a notice of its <br />intention to issue the bonds and the date and time of a hearing to obtain public comment on the <br />matter; and <br />B. WHEREAS, the City Council will hold a public hearing on its intention to <br />issue general obligation capital improvement plan bonds (the "Bonds") and to adopt the Plan <br />therefor pursuant thereto on February 20, 2007; and <br />Ehlers & Associates, Inc. Page 14 <br />