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XT CT 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 10th day of September, 2007 at 6:00 p.m. The following members were present: Roe, Pust, Ihlan, Kough and Klausing, and the following were absent: none. Member Pust introduced the following resolution and moved its adoption: RESOLUTION No. 10551 RESOLUTION DIRECTING THE COUNTY AUDITOR TO ADJUST THE APPROVED TAX LEVY FOR 2008 BONDED DEBT WHEREAS, the City will be required to make debt service payments on General Improvement Debt in 2008 and WHEREAS, there are reserve funds sufficient to reduce the levy for General Improvement Issues Series 19, 20, 23, 25, 2003A, and 2004A by a combined amount of $319,638.69 and WHEREAS, General Improvement Issues Series 22 has been defeased and is 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 2008 tax levy for General Improvement Debt by $319,638.69 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 Klausing and upon a vote being taken thereon, the following voted in favor thereof: Roe, Pust, Ihlan, and Klausing, and the following voted against the same: Kough WHEREUPON, said resolution was declared duly passed and adopted.