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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE, MINNESOTA HELD: July 24, 2000 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, Ramsey County, Minnesota, was duly held at the City Hall in said City on Monday, the 24th day of July, 2000 at 6:30 o'clock P.M. The following members were present: Mastel, Goedeke & Kysylyczyn. and the following were absent: Maschka and Wiski. Member Mastel introduced the following resolution and moved its adoption: RESOLUTION No. 9792 RESOLUTION CALLING FOR REDEMPTION OF OUTSTANDING GENERAL OBLIGATION TAX INCREMENT BONDS, SERIES 1995 A. WHEREAS, the City Council of the City of Roseville, Minnesota (the "City"), issued on behalf of the City, $6,500,000 General Obligation Tax Increment Bonds, Series 1995, dated May 15, 1995 (the "Bonds"), of which Bonds $4,550,000 still remains outstanding; and B. WHEREAS, all of the Bonds maturing in the years 2002 to 2010, both inclusive, totaling $4,550,000 in principal amount, are subject to redemption and prepayment at the option of the City in inverse order, on March 1, 2001, and on any date thereafter at par and accrued interest, all as provided in the resolution of the City Council dated April 14, 1995 authorizing the issuance of the Bonds (the "Resolution"); and C. WHEREAS, the City Council deems it desirable and in the best interests of the City to call all of the Bonds maturing in the years 2002 to 2010, both inclusive, totaling $4,550,000 in principal amount on March 1, 2001 in accordance with the Resolution; and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville, Minnesota, as follows: 1. Bonds to be Redeemed. All of the Bonds maturing in the years 2002 to 2010, both inclusive, shall be redeemed and 986410.1