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EXTRACT OF MINUTES OF MEETING OF THE <br />CITY COUNCIL OF THE CITY OF ROSEVILLE <br />* * * * * * * * * * * <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of <br />Roseville, County of Ramsey, Minnesota was duly held on the 17th day of December, 2007 at <br />6:00 p.m. <br />The following members were present: Kough, Roe, Ihlan, Pust and Klausing, <br />and the following were absent: none. <br />Member Roe introduced the following resolution and moved its adoption: <br />RESOLUTION 10584 <br />RESOLUTION DIRECTING THE COUNTY AUDITOR TO <br />ADJUST THE APPROVED TAX LEVY FOR 2008 BONDED DEBT <br />WHEREAS, the City will be required to make debt service payments on General Improvement <br />Debt in 2008 and <br />WHEREAS, there are reserve funds sufficient to reduce the levy for General Improvement Issues <br />Series 19, 20, 23, 25, 2003A, and 2004A by a combined amount of $319,638.69 and <br />WHEREAS, General Improvement Issues Series 22 has been. defeased and is no longer <br />outstanding; and series 23 has been refunded and replaced with series 2004A. <br />NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, <br />Minnesota, that <br />The Ramsey County Auditor is directed to decrease the 2008 tax levy for General Improvement <br />Debt by $319,638.69 from that which was originally scheduled upon the issuance of the bonds, <br />which is being paid by debt service reserves or are for debt issues no longer outstanding. <br />The motion for the adoption of the foregoing resolution was duly seconded by Member Klausing <br />and upon a vote being taken thereon, the following voted in favor thereof: Roe, Pust and <br />Klausing, <br />and the following voted against the same: Kough and Ihlan. <br />WHEREUPON, said resolution was declared duly passed and adopted. <br />6 <br />