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EXTRACT OF MINUTES OF MEETING OF CITY COUNCIL CITY OF ROSEVlLLE RAMSEY COUNTY, MINNESOTA Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, Minnesota, was duly held in the City Hall on Monday, the tenth day of February, 1997, at 6:30 o'clock p.m. The following members were present: Goedeke, Wiski, Maschka, Mastel and Wall and the following members were absent: None. Councilmember Wiski introduced the following resolution and moved its adoption: RESOLUTIONS 9380 DECLARING THE OFFICIAL INTENT OF THE CITY OF ROSEVlLLE TO REIMBURSE CERTAIN EXPENDITURES FROM THE PROCEEDS OF BONDS TO BE ISSUED BY THE CITY WHEREAS, the Internal Revenue Service has issued Tres. Reg. 1.150-2 providing that proceeds of tax-exempt bonds used to reimburse prior expenditures will not be deemed spent unless certain requirements are met; and WHEREAS, the City expects to incur certain expenditures which may be financed temporarily ITom sources other than bonds, and reimbursed ITom the proceeds of a bond; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROSEVILLE (THE CITY) AS FOLLOWS: 1. The City intends to make expenditures for the projects P-97-02 and P-97-03 and reasonably intends to reimburse itself for such expenditures ITom the proceeds of debt to be issued by the City in the maximum principal amounts of$538,433 and $308,200 respectively. 2. This resolution is intended to constitute a declaration of official intent for purposes ofTres. Reg. 1.150-2 and any successor law, regulation, or ruling. The motion was seconded by Councilmember Maschka and upon vote being taken thereon, the following voted in favor thereof: Goedeke, Wiski, Maschka, Mastel, and Wall and the following voted against: None. Whereupon said resolution was declared duly passed and adopted.