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<br />EXTRACT OF MINUTES OF MEETING <br />OF CITY COUNCIL <br />CITY OF ROSEVILLE <br />RAMSEY COUNTY, MINNESOTA <br /> <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of <br />Roseville, Minnesota, was duly held in the City Hall on Monday, February 8, 1999, at 6:30 <br />o'clock p.m. <br /> <br />The following members were present: Wiski, Maschka, Mastel, and Goedeke, and the following <br />were absent: Wall. <br /> <br />Councilmember Maschka introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION 9632 <br /> <br />DECLARING THE OFFICIAL INTENT OF THE CITY OF ROSEVILLE <br />TO REIMBURSE CERTAIN EXPENDITURES FROM THE PROCEEDS OF <br />BONDS TO BE ISSUED BY THE CITY <br /> <br />WHEREAS, the Internal Revenue Service has issued Tres. Reg. 1.150-2 providing that proceeds <br />of tax-exempt bonds used to reimburse prior expenditures will not be deemed spent unless certain <br />requirements are met; and <br /> <br />WHEREAS, the City expects to incur certain expenditures which may be financed temporarily <br />from sources other than bonds, and reimbursed from the proceeds of a bond; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />ROSEVILLE (THE CITY) AS FOLLOWS: <br /> <br />1. The City intends to make expenditures for the projects P-99-02, Neighborhood 19,22, and <br />23, and reasonably intends to reimburse itself for such expenditures ftom the proceeds of <br />debt to be issued by the City. <br /> <br />2. This resolution is intended to constitute a declaration of official intent for purposes ofTres. <br />Reg. 1.150-2 and any successor law, regulation, or ruling. <br /> <br />The motion was seconded by Councilmember Wiski and upon vote being taken thereon, the <br />following voted in favor thereof: Wiski, Maschka, Mastel and Goedeke, and the following voted <br />against: None. <br /> <br />Whereupon said resolution was declared duly passed and adopted. <br />