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EXTRACT OF MINUTES OF A MEETING <br /> OF THE CITY COUNCIL <br /> CITY OF ROSEVILLE, MINNESOTA <br /> HELD: November 21, 2011 <br /> Pursuant to due call and notice thereof, a regular or special meeting of the City Council <br /> of the City of Roseville, Ramsey County, Minnesota,was duly held at the City Hall on <br /> November 21, 2011, at 6:00 P.M. for the purpose in part of authorizing the competitive <br /> negotiated sale of the $10,000,000 General Obligation Bonds, Series 2011A. <br /> The following members were present: <br /> and the following were absent: <br /> Member introduced the following resolution and moved its adoption: <br /> RESOLUTION AMENDING ITS RESOLUTION DATED OCTOBER 24, 2011 WHICH <br /> PROVIDED FOR THE COMPETITIVE NEGOTIATED SALE OF $10,000,000 GENERAL <br /> OBLIGATION BONDS, SERIES 2011A <br /> A. WHEREAS,the City Council of the City of Roseville, Minnesota(the "City"), <br /> has heretofore determined that it is necessary and expedient to issue $10,000,000 General <br /> Obligation Bonds, Series 2011A (the "Bonds")to finance public safety and open space <br /> improvements within the City; and <br /> B. WHEREAS, the City has retained Springsted Incorporated, in Saint Paul, <br /> Minnesota("Springsted"), as its independent financial advisor and is therefore authorized to sell <br /> these obligations by a competitive negotiated sale in accordance with Minnesota Statutes, <br /> Section 475.60, Subdivision 2(9); and <br /> C. WHEREAS,the City has determined to change the sale date of the Bonds from <br /> November 28, 2011 to a date to be set by the City Manager, City Finance Director and <br /> Springsted. <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville, <br /> Minnesota, as follows: <br /> 1. Authorization. The City Council hereby authorizes Springsted to solicit proposals <br /> for the competitive negotiated sale of the Bonds. <br /> 2. Meeting; Proposal Opening. This City Council shall meet at the time and place <br /> specified in the Terms of Proposal attached hereto as Exhibit A for the purpose of considering <br /> sealed proposals for, and awarding the sale of,the Bonds. The proposals shall be received at the <br /> offices of Springsted and shall be opened at the time specified in such Terms of Proposal. <br /> 4371132v1 <br />