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EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />ROSEVILLE, MINNESOTA <br />HELD: JULY 21, 2025 <br />Pursuant to due call and notice thereof, a regular or special meeting of the City Council of <br />the City of Roseville, Ramsey County, Minnesota, was duly called and held at the City Hall in said <br />City on July 21, 2025, at 6:00 P.M., for the purpose of awarding the sale of, $1,880,000 General <br />Obligation Equipment Certificates, Series 2025A. <br />The following members were present: ________________________________________ <br />and the following were absent: ____________________________________________________ <br />Member ____________________ introduced the following resolution and moved its <br />adoption. <br />RESOLUTION FOR THE ISSUANCE AND SALE OF <br />$1,880,000 GENERAL OBLIGATION EQUIPMENT CERTIFICATES, SERIES 2025A <br />PROVIDING FOR THEIR ISSUANCE AND LEVYING <br />A TAX FOR THE PAYMENT THEREOF <br />A.WHEREAS, the City of Roseville, Minnesota (the "City") has heretofore <br />determined and declared that it is necessary and expedient to issue $1,880,000 General Obligation <br />Equipment Certificates, Series 2025A (the "Certificates" or individually, a "Certificate"), pursuant <br />to Minnesota Statutes, Chapter 475 and Minnesota Statutes, Section 412.301, to finance the <br />acquisition of capital equipment for the City (the "Equipment"); and <br />B.WHEREAS, the Equipment to be financed by the Certificates has an expected <br />useful life at least as long as the term of the Certificates; and <br />C.WHEREAS, the principal amount of the Certificates to be issued does not exceed <br />one-quarter of one percent (0.25%) of the market value of the City ($6,900,143,300 times 0.25% <br />is $17,250,358.25); and <br />D.WHEREAS, the City has retained Ehlers & Associates, Inc., in Minneapolis, <br />Minnesota ("Ehlers"), as its independent municipal advisor for the sale of the Certificates and was <br />therefore authorized to sell the Certificates by private negotiation in accordance with Minnesota <br />Statutes, Section 475.60, Subdivision 2(9) and proposals to purchase the Certificates have been <br />solicited by Ehlers; and <br />F.WHEREAS, the proposals set forth on Exhibit A attached hereto were received by <br />the City Manager, or designee, at the offices of Ehlers at 10:30 A.M., this same day pursuant to <br />the Terms of Proposal established for the Certificates; and <br />G.WHEREAS, it is in the best interests of the City that the Certificates be issued in <br />book-entry form as hereinafter provided; and <br />173238840v1 <br />Qbhf!61!pg!429 <br /> <br />