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EXTRACT OF MINUTES OF MEETING <br /> OF CITY COUNCIL <br /> CITY OF ROSEVILLE <br /> RAMSEY COUNTY, MINNESOTA <br /> Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of <br /> Roseville, County of Ramsey, Minnesota, was duly held in the City Hall at 2660 Civic Center <br /> Drive, Roseville, Minnesota, on Monday, February 14, 2000, at 6:30 o'clock p.m. <br /> The following members were present: and the following were absent: <br /> Member introduced the following resolution and moved its adoption: <br /> RESOLUTION XXXX <br /> DECLARING THE OFFICIAL INTENT OF THE CITY OF ROSEVILLE <br /> TO REIMBURSE CERTAIN EXPENDITURES FROM THE PROCEEDS OF <br /> BONDS TO BE ISSUED BY THE CITY <br /> WHEREAS, the Internal Revenue Service has issued Tres. Reg. 1.150-2 providing that proceeds <br /> of tax-exempt bonds used to reimburse prior expenditures will not be deemed spent unless <br /> certain requirements are met; and <br /> WHEREAS, the City expects to incur certain expenditures which may be financed temporarily <br /> from sources other than bonds, and reimbursed from the proceeds of a bond; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br /> ROSEVILLE (THE CITY) AS FOLLOWS: <br /> 1 The City intends to make expenditures for the projects P-00-02, Neighborhood 32, 34, 35 <br /> and 36, and reasonably intends to reimburse itself for such expenditures from the proceeds <br /> of debt to be issued by the City. <br /> 2 This resolution is intended to constitute a declaration of official intent for purposes of Tres. <br /> Reg. 1.150-2 and any successor law, regulation, or ruling. <br /> The motion was duly seconded by and upon vote being taken thereon, the following <br /> voted in favor thereof: and and the following voted against: <br /> Whereupon said resolution was declared duly passed and adopted. <br />