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Series 2003A (the "Bonds" or, individually, a "Bond"), pursuant to Minnesota Statutes, Chapter 475, to finance the cost ofthe Project; and C. WHEREAS, it is in the best interests of the City that the Bonds be issued in book- entry form as hereinafter provided; and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville, Minnesota, as follows: 1. Acceptance of Proposal. The proposal ofLegg Mason Wood Walker, Inc. (the "Purchaser"), to purchase the Bonds in accordance with the Terms of Proposal, at the rates of interest hereinafter set forth, and to pay therefor the sum of $9,678,627.75, plus interest accrued to settlement, is hereby found, determined and declared to be the most favorable proposal received and is hereby accepted and the Bonds are hereby awarded to such proposal maker. The City Finance Director is directed to retain the deposit of said proposed maker and to forthwith return to the unsuccessful proposed makers their good faith checks and drafts. 2. Bond Terms. (a) Title: Original Issue Date: Denominations: Maturities: Term Bond Option. The Bonds shall be dated March 1,2003, as the date of original issue and shall be issued forthwith on or after such date as fully registered bonds. The Bonds shall be numbered from R-l upward in the denomination of $5,000 each or in any integral multiple thereof of a single maturity (the "Authorized Denominations"). The Bonds shall mature on March 1 in the years and amounts as follows: Year Amount Year Amount Year Amount 2005 $165,000 2010 $605,000 2015 $740,000 2006 535,000 2011 625,000 2016 770,000 2007 545,000 2012 650,000 2017 805,000 2008 565,000 2013 680,000 2018 845,000 2009 580,000 2014 705,000 2019 885,000 All dates are inclusive. As may be requested by the Purchaser, one or more term Bonds may be issued having mandatory sinking fund redemption and fmal maturity amounts conforming to the foregoing principal repayment schedule, and corresponding additions may be made to the provisions of the applicable Bond(s). (b) Book Entry Only System. The Depository Trust Company, a limited purpose trust company organized under the laws of the State of New York or any of its successors or its successors to its functions hereunder (the "Depository") will act as securities depository for the Bonds, and to this end: (i) The Bonds shall be initially issued and, so long as they remain in book entry form only (the "Book Entry Only Period"), shall at all times be in the form of a 2 1493021vl