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5313747v2
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<br />Attachment A
<br />EXTRACT OF MINUTES OF A MEETING
<br />OF THE CITY COUNCIL
<br />CITY OF ROSEVILLE, MINNESOTA
<br />HELD: March 11, 2013
<br />Pursuant to due call and notice thereof, a regul ar or special meeting of the City Council
<br />of the City of Roseville, Ramsey County, Minneso ta, was duly called and held at the City Hall
<br />on March 11, 2013, at 6:00 P.M., for the purpose, in part, of authorizing the issuance and
<br />awarding the sale of $4,145,000 General Obli gation Municipal Building Refunding Bonds,
<br />Series 2013A.
<br />The following members were present:
<br />and the following were absent:
<br />Member ______________ introduced the following resolution and move d its adoption:
<br />RESOLUTION ACCEPTING PROPOSAL ON THE SALE OF $4,145,000 GENERAL
<br />OBLIGATION MUNICIPAL BUILDING RE FUNDING BONDS, SERIES 2013A, AND
<br />LEVYING A TAX FOR THE PAYMENT THEREOF
<br />A. WHEREAS, the City Council of the City of Roseville, Minnesota (the "City"),
<br />hereby determines and declares that it is ne cessary and expedient to provide moneys for a
<br />crossover refunding of the C ity's $9,700,000 original principal amount of General Obligation
<br />Municipal Building Bonds, Series 2003A, date d March 1, 2003 (the "Prior Bonds"), which
<br />mature on and after March 1, 2015; and
<br />B. WHEREAS, $4,045,000 aggregate principal am ount of the Prior Bonds which
<br />mature or is subject to mandatory redemption on and after March 1, 2015, is callable on March 1,
<br />2014 (the "Refunded Bonds"), at a price of par plus accrued interest , as provided in the
<br />resolution adopted on February 10, 2003, authorizing the issuance of the Prior Bonds (the "Prior
<br />Resolution"); and
<br />C. WHEREAS, the crossover refunding of the Refunded Bonds on March 1, 2014
<br />(the "Crossover Date") is consis tent with covenants made with the holders thereof, and is
<br />necessary and desirable for the reduction of debt service cost to the City; and
<br />D. WHEREAS, the City Council he reby determines and declares that it is necessary
<br />and expedient to issue $4,145,000 General Oblig ation Municipal Building Refunding Bonds,
<br />Series 2013A (the "Bonds" or in dividually, a "Bond"), pursuant to Minnesota Statutes, Chapter
<br />475, to provide moneys for a crossover refunding of the Refunded Bonds; and
<br />E. WHEREAS, the City has retained Springste d Incorporated, in St. Paul, Minnesota
<br />("Springsted"), as its independent financial advisor for the sale of the Bonds and was therefore
<br />authorized to sell the Bonds by private negotia tion in accordance with Minnesota Statutes,
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