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<br /> <br />Of 1 <br />doc JIM f" ki'o,-- <br /> <br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE <br />CITY OF ROSEVILLE, MINNESOTA <br /> <br />HELD: February 9, 2004 <br /> <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 February <br />9,2004, at _ o'clock .M. for the purpose in part of authorizing the competitive negotiated <br />sale of the $1,760,000 General Obligation Improvement Refunding Bonds, Series 2004A. <br /> <br />The following members were present: <br /> <br />and the following were absent: <br /> <br />introduced the following resolution and moved its adoption: <br /> <br />Member <br /> <br />RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED SALE OF $1,760,000 <br />GENERAL OBLIGATION IMPROVEMENT REFUNDING BONDS, SERIES 2004A <br /> <br />A. WHEREAS, the City Council of the City of Roseville, Minnesota (the <br />"City"), has heretofore determined that it is necessary and expedient to issue $1,760,000 General <br />Obligation Improvement Refunding Bonds, Series 2004A (the "Bonds") to refund the City's <br />outstanding $2,750,000 original principal amount of General Obligation Improvement Bonds, <br />Series 23, dated March 21,1997, which mature on and after March 1,2005; and <br /> <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 /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville, <br />Minnesota, as follows: <br /> <br />1. Authorization. The City Council hereby authorizes Springsted to solicit <br />proposals for the competitive negotiated sale of the Bonds. <br /> <br />2. Meeting; Proposal Opening. This City Council shall meet at the time and <br />place specified in the Terms of Proposal attached hereto as Exhibit A for the purpose of <br />considering sealed proposals for, and awarding the sale of, the Bonds. The Finance Director or <br />designee, shall open proposals at the time and place specified in such Terms of Proposal. <br /> <br />3. Terms of Proposal. The terms and conditions of the Bonds and the <br />negotiation thereof are fully set forth in the "Terms of Proposal" attached hereto as Exhibit A and <br />hereby approved and made a part hereof. <br /> <br />4. Official Statement. In connection with the sale, the Finance Director and <br />other officers or employees of the City are hereby authorized to cooperate with Springsted and <br />