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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 14th day of September 2015 at 6:00 p.m. 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. 11251 RESOLUTION AUTHORIZING THE PERMANENT TRANSFER OF FUNDS FROM THE STORMWATER FUND TO THE WATER FUND WHEREAS, the City Council of the City of Roseville, Minnesota desires to establish budget and financial policies that provide for the sustainability of City programs, services and infrastructure; and WHEREAS, the City Council of the City of Roseville, Minnesota recently approved several one-time investments in the City's water system infrastructure; and WHEREAS, the City Council of the City of Roseville, Minnesota desires to partially fund those investments using excess cash reserves currently held in the City's Stormwater Fund. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, Minnesota, that a one-time cash transfer in the amount of$2.5 million from the Stormwater Fund to the Water Fund is approved. The motion for the adoption of the foregoing resolution was duly seconded by member Willmus and upon a vote being taken thereon, the following voted in favor thereof: Willmus, Laliberte, Etten, McGehee, Roe and the following voted against the same: None.