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EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE * * * * * * * * * * * Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, County of Ramsey, Minnesota was duly held on the 19th day of December, 2005 at 6:00 p.m. The following members were present: Kough, Mascl1ka, Ihlan, Schroeder and Klausing , and the following were absent: none. Member Maschka introduced the following resolution and moved its adoption: RESOLUTION 10365 RESOLUTION DIRECTING THE COUNTY AUDITOR TO ADJUST THE FINAL APPROVED TAX LEVY FOR 2006 BONDED DEBT WHEREAS, the City will be required to make debt service payments on General Improvement Debt in 2006 and WHEREAS, there are reserve funds sufficient to reduce the levy for General Improvement Issues Series 19,25, 2003A, and 2004A by a combined amount of$385,626 and WHEREAS, General Improvement Issues Series 17 and 22 have been defeased and are no longer outstanding; and series 23 has been refunded and replaced with series 2004A. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, Minnesota, that The Ramsey County Auditor is directed to decrease the 2006 tax levy for General Improvement Debt by $385,626 from that which was originally scheduled upon the issuance of the bonds, which is being paid by debt service reserves or are for debt issues no longer outstanding. The motion for the adoption of the foregoing resolution was duly seconded by Member Klausing and upon a vote being taken thereon, the following voted in favor thereof: Kough, Mascl1ka, Ihlan, Schroeder and Klausing and the following voted against the same: none. WHEREUPON, said resolution was declared duly passed and adopted.