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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 9th day of June, 2008 at 6:00 p.m. The following members were present: Willmus, Ihlan, Pust, Roe and Klausing and the following were absent: none. Member Roe introduced the following resolution and moved its adoption: RESOLUTION No. 10633 RESOLUTION AUTHORIZING THE FUNDING PLAN FOR THE REPLACEMENT OF THE ARENA REFRIGERATION SYSTEM WHEREAS, the City Council is committed to properly maintaining the Arena facility; and WHEREAS, the City Council recognizes the immediate need to replace the Arena refrigeration system; and WHEREAS, the City Council recognizes the importance of preserving existing asset replacement funding mechanisms that have been previously designated for specific purposes. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, Minnesota, that the funding for the replacement of the Arena refrigeration system shall be as follows: 1) As a primary funding source, the City will use all available funds in the Building Replacement Fund 2) As a secondary funding source, the City will borrow money through the issuance of 10-year Equipment Certificates sufficient to pay for any remaining costs The motion for the adoption of the foregoing resolution was duly seconded by Mayor Klausing and upon a vote being taken thereon, the following voted in favor thereof: Willmus, Pust, Roe and Klausing and the following voted against the same: Ihlan WHEREUPON, said resolution was declared duly passed and adopted.