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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL CITY OF ROSEVILLE, MINNESOTA HELD: July 20, 2015 Pursuant to due call and notice thereof, a regular or special meeting of the City Council of the City of Roseville, Ramsey County, Minnesota, was duly held at the City Hall on July 20, 2015, at 6:00 P.M. for the purpose in part of authorizing the competitive negotiated sale of the $3,270,000 General Obligation Tax Increment Revenue Bonds, Series 2015A. The following members were present: Willmus, Laliberte, Etten, McGehee, Roe and the following were absent: None. Member Etten introduced the following resolution and moved its adoption: RESOLUTION NO. 11240 PROVIDING FOR THE COMPETITIVE NEGOTIATED SALE OF $3,270,000 GENERAL OBLIGATION TAX INCREMENT REVENUE BONDS, SERIES 2015A A. WHEREAS, the City Council of the City of Roseville, Minnesota(the "City"), has heretofore determined that it is necessary and expedient to issue $3,270,000 General Obligation Tax Increment Revenue Bonds, Series 2015A(the "Bonds")to finance public improvements within the City's Tax Increment Financing District No. 17; and B. WHEREAS, the City has retained Springsted Incorporated, in Saint Paul, Minnesota("Springsted"), as its independent financial advisor and is therefore authorized to sell these obligations by a competitive negotiated sale in accordance with Minnesota Statutes, Section 475.60, Subdivision 2(9); and NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville, Minnesota, as follows: 1. Authorization. The City Council hereby authorizes Springsted to solicit proposals for the competitive negotiated sale of the Bonds. 2. Meeting; Proposal Opening. This City Council shall meet at the time and place specified in the Terms of Proposal attached hereto as Exhibit A for the purpose of considering sealed proposals for, and awarding the sale of, the Bonds. The proposals shall be received at the offices of Springsted and shall be opened at the time specified in such Terms of Proposal. 3. Terms of Proposal. The terms and conditions of the Bonds and the negotiation thereof are fully set forth in the "Terms of Proposal" attached hereto as Exhibit A and hereby approved and made a part hereof. 4. Official Statement. In connection with the sale,the City Manager, Mayor and other officers or employees of the City are hereby authorized to cooperate with Springsted and 1