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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 3rd day of December, 2018 at 6:00 p.m. The following members were present: McGehee, Willmus, Laliberte, Etten; and Roe and the following members were absent: none. Member McGehee introduced the following resolution and moved its adoption: RESOLUTION No. 11558 RESOLUTION DIRECTING THE COUNTY AUDITOR TO ADJUST THE APPROVED TAX LEVY FOR 2019 BONDED DEBT WHEREAS, the City will be required to make debt service payments on General Obligation Debt in 2019; and WHEREAS, there are reserve funds sufficient to partially reduce the originally scheduled levy for General Obligation Series 2009A, 2011A, 2012A; and WHEREAS, General Obligation Series 2013A requires one year's levy beyond the original certified duration to offset lower-than-expected levies collected in prior years. 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 2019 tax levy for General Improvement Debt by $582,213.05 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 Housing Imp 2009A 115,106.25 (115,106.25) - GO 2011A 836,765.70 (1,765.70) 835,000.00 GO 2012A 1,440,915.00 (65,915.00) 1,375,000.00 GO 2013A refunding - 765,000.00 765,000.00 Total $2,392,786.95 $ 582,213.05 $2,975,000.00 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: McGehee, Willmus, Laliberte, Etten; and Roe and the following voted against the same: none. WHEREUPON, said resolution was declared duly passed and adopted. Page 1 of 2