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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 13th day of September, 2004 at 6:00 p.m. The following members were present: Maschka, Thlan, Kough, Schroeder and Klausing, and the following were absent: none. Member Maschka introduced the following resolution and moved its adoption: RESOLUTION 10245 RESOLUTION DIRECTING THE COUNTY AUDITOR TO ADJUST THE APPROVED TAX LEVY FOR 2005 BONDED DEBT WHEREAS, the City will be required to make debt service payments on General Improvement Debt in 2005 and WHEREAS, there are reserve funds sufficient to reduce the levy for General Improvement Issues Series 19,23,25, and 2003A by a combined amount of$475,034 and WHEREAS, General Improvement Issues Series 15, 16, 17, 18 and 22 have been defeased and are no longer outstanding, and series 23 has been refunded and replaced with series 2004A. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, Minnesota, that The Ramsey County Auditor is directed to decrease the 2005 tax levy for General Improvement Debt by $475,034 from that which was originally scheduled upon the issuance of the bonds, which is being paid by debt service reserves or are for debt issues no longer outstanding. The motion for the adoption of the foregoing resolution was duly seconded by Member Thlan and upon a vote being taken thereon, the following voted in favor thereof: Maschka, Thlan, and Klausing and the following voted against the same: Kough and Schroeder WHEREUPON, said resolution was declared duly passed and adopted.