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<br />EXTRACT OF MINUTES OF MEETING OF THE <br />CITY COUNCIL OF THE CITY OF ROSEVILLE <br /> <br />* * * * * * * * * * * <br /> <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of <br />Roseville, County of Ramsey, Minnesota was duly held on the 11 th day of September, 2006 at <br />6:00 p.m. <br /> <br />The following members were present: Maschka, Ihlan, Kough, Pust and Klausing, <br />and the following were absent: none. <br /> <br />Member Klausing introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION 10430 <br /> <br />RESOLUTION DIRECTING THE COUNTY AUDITOR TO <br />ADJUST THE APPROVED TAX LEVY FOR 2007 BONDED DEBT <br /> <br />WHEREAS, the City will be required to make debt service payments on General Improvement <br />Debt in 2007 and <br /> <br />WHEREAS, there are reserve funds sufficient to reduce the levy for General Improvement Issues <br />Series 17, 19,22,23,25, 2003A, and 2004A by a combined amount of$871,870.92 and <br /> <br />WHEREAS, General Improvement Issues Series 17 and 22 have been defeased and are no longer <br />outstanding; and series 23 has been refunded and replaced with series 2004A. <br /> <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, <br />Minnesota, that <br /> <br />The Ramsey County Auditor is directed to decrease the 2007 tax levy for General Improvement <br />Debt by $871,870.92 from that which was originally scheduled upon the issuance of the bonds, <br />which is being paid by debt service reserves or are for debt issues no longer outstanding. <br /> <br />The motion for the adoption ofthe foregoing resolution was duly seconded by Member Maschka <br />and upon a vote being taken thereon, the following voted in favor thereof: Maschka, Ihlan, <br />Kough, Pust and Klausing <br /> <br />and the following voted against the same: none. <br /> <br />WHEREUPON, said resolution was declared duly passed and adopted. <br />