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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE, MINNESOTA HELD: January 13,2003 Pursuant to due call thereof, a regular meeting of the City Council of the City of Roseville, Ramsey County, Minnesota, was duly held at the City Hall on the 13th day of January, 2003, at _ o'clock _.M. for the purpose in part of authorizing the competitive negotiated sale of the $9,700,000 General Obligation Municipal Building Bonds, Series 2003A. The following members were present: and the following were absent: Member introduced the following resolution and moved its adoption: RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED SALE OF $9,700,000 GENERAL OBLIGATION MUNICIPAL BUILDING BONDS, SERIES 2003A A. WHEREAS, the City Council of the City of Roseville, Minnesota (the "City"), has heretofore determined that it is necessary and expedient to issue its $9,700,000 General Obligation Municipal Building Bonds, Series 2003A (the "Bonds") to finance the expansion of the City's police and public works facilities; and B. WHEREAS, the City has retained Springsted Incorporated, in Saint Paul, Minnesota ("Springsted"), as its independent financial advisor and is therefore authorized to sell these obligations by a competitive negotiated sale in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9); and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville, Minnesota, as follows: 1. Authorization. The City Council hereby authorizes Springsted to solicit bids for the competitive negotiated sale of the Bonds. 2. This City Council shan meet at specified in the Terms of Proposal attached hereto as Exhibit A for the purpose of considering sealed bids for, and awarding the sale of, the Bonds. The Finance Director or designee, shall open bids at the time and place specified such Terms of ProposaL 11486062vl