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<br />521AA <br /> <br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />ROSEVILLE, MINNESOTA <br /> <br />HELD: DECEMBER 17, 1985 <br /> <br />RESOLUTION 7849 <br /> <br />Pursuant to du~ call and notice thereof, a regular <br />meeting of the City Council of the City of Roseville, Ramsey <br />County, Minnesota, was duly called and held at the City Hall in <br />said City on the 17th day of December, 1985, at 5:30 P.M. for <br />the purpose of considering bids for and awarding the sale of <br />$16,525,000 General Obligation Bonds of 1985, consisting of <br />$2,225,000 General Obligation State-Aid Highway Bonds and <br />$14,300,000 General Obligation Tax Increment Bonds, Series 1 of <br />the City for which bids were received at the offices of <br />Knutson, Flynn & Hetlund, P.A. in the presence of an official <br />of the City at 12:00 P.M. of the sarne day. <br /> <br />The following members 'were present: Mayor Demos and <br />Councilmembers Franke, Curley and Kehri <br />and the following were absent: Councilmember Johnson. <br /> <br />The Manager presented affidavits showing publication of <br />notice of call for bids on $16,525,000 General Obligation Bonds <br />of 1985, consisting of $2,225,000 General Obligation State-Aid <br />Highway Bonds and $14,300,000 General Obligation Tax Increment <br />Bonds, Series 1 of the City, for which bids were to be received <br />at this meeting, in accordance with the resolution adopted by <br />the City Council on December 2, 1985. The affidavits were <br />examined, found to comply with the provisions of Minnesota <br />Statutes, Chapter 475, and were approved and ordered placed on <br />file. <br /> <br />The following bids were received: <br /> <br />Bidder <br /> <br />Interest Rate <br /> <br />Net Interest Cost <br /> <br />See attached <br />