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EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE * * * * * * * * * * * Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, County of Ramsey, Minnesota was duly held on the 9th day of December, 2013 at 6:00 p.m. The following members were present: Willmus, Laliberte, Etten, McGehee; and Roe; and the following were absent: none. Member Etten introduced the following resolution and moved its adoption: RESOLUTION 11114 RESOLUTION DIRECTING THE COUNTY AUDITOR TO ADJUST THE APPROVED TAX LEVY FOR 2014 BONDED DEBT WHEREAS, the City will be required to make debt service payments on General Obligation Debt in 2014; and WHEREAS, there are reserve funds sufficient to partially reduce the originally scheduled levy for General Obligation Series 2009A, 2011A, 2012A, and 2013A; and WHEREAS, General Obligation Series 2008A requires a slightly higher amount; and WHEREAS, General Obligation Series 2004 Refunding and 2009B Refunding will require continued levy support to repay the internal loan used to retire the bonds early. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, Minnesota, that The Ramsey County Auditor is directed to change the 2014 tax levy for General Improvement Debt by $85,330.67 from that which was originally scheduled upon the issuance of the bonds as follows: Originally Additions Scheduled or Certified Bond Issue Levy Amount Reductions Debt Levy GO Refunding 2009B** $ - $ 160,000.00 $ 160,000.00 GO Refunding 2004 ** - 150,000.00 150,000.00 GO Equip Certs 2008A 354,690.00 310.00 355,000.00 GO Housing Imp 2009A 115,460.63 (115,460.63) - GO 2011A 837,983.70 (2,983.70) 835,000.00 GO 2012A 1,403,955.00 (28,955.00) 1,375,000.00 GO 2013A refunding 902,580.00 (77,580.00) 825,000.00 Total $3,614,669.33 $ 85,330.67 $3,700,000.00 **To repay internal loan used to pay off the bonds early