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<br />Extract of Minutes of Meeting <br />of the City Council of the City <br />of Roseville, Ramsey County, Minnesota <br /> <br />Pursuant to due call and notice thereof a regular meeting of the City Councl1 <br />of the City of Rosev1l1e, Ramsey County, Minnesota, was he~d at the City Hall in the <br />City on Monday, December 14, 1992, commencing at 7:30 P.M. <br /> <br />The following members of the Councl1 were present: <br />Thomas, P. Johnson, Maschka, Cushman, and V. Johnson, <br /> <br />and the following were absent: <br />None. <br /> <br />... <br /> <br />... <br /> <br />... <br /> <br />The following resolution was presented by CouncllmemberP. Johnson who <br />moved its adoption: <br /> <br />RESOLUTION NO. 8870 <br /> <br />RESOLUTION PROVIDING FOR THE ISSUANCE <br />AND SALE OF $1,975,000 GENERAL OBLIGATION REFUNDING <br />IMPROVEMENT BONDS, SERIES 1993 <br /> <br />BE IT RESOLVED By the City Council of the City of Roseville, Ramsey <br />County, Minnesota (City) as follows: <br /> <br />1. It is hereby determined that: <br /> <br />(a) the City is authorized by Minnesota Statutes, Chapter 475 (Act) <br />and Section 475.67, Subdivision 3, of the Act to issue and sell its general <br />obligation bonds to refund obligations and the interest thereon before the due <br />date of the obligations, if consistent with covenants made with the holders <br />thereof, when determined by the City Councl1 to be necessary or desirable for <br />the reduction of debt service cost to the City or for the extension or <br />adjustment of maturities in relation to the resources available for their <br />payment; <br /> <br />(b) subdivision 4 of the Act permits the sale of refunding obligations <br />during the six month period prior to the date on which the obligations to be <br />refunded may be called for redemption; <br /> <br />Dn44317 <br /> <br />----- ..- <br /> <br />1 <br />