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EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE <br />CITY OF ROSEVILLE, MINNESOTA <br />HELD: July 28, 2008 <br />Pursuant to due call and notice thereof, a regular or special meeting of the City Council <br />of the City of Roseville, Ramsey County, Minnesota, was duly held at the City Hall on July 28, <br />2008, at 6:00 o'clock P.M. for the purpose in part of authorizing the competitive negotiated sale <br />of the $2,550,000 General Obligation Equipment Certificates of Indebtedness, Series 2008A. <br />The following members were present: Roe, Pust, Willmus, Ihlan and Klausing <br />and the following were absent: none. <br />Member Klausing introduced the following resolution and moved its adoption: <br />RESOLUTION No. 10644 <br />RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED SALE OF $2,550,000 <br />GENERAL OBLIGATION EQUIPMENT CERTIFICATES OF INDEBTEDNESS, <br />SERIES 2008A <br />A. WHEREAS, the City Council of the City of Roseville, Minnesota (the <br />"City"), has heretofore determined that it is necessary and expedient to issue $2,550,000 General <br />Obligation Equipment Certificates of Indebtedness, Series 2008A (the "Certificates") to finance <br />the acquisition of capital equipment; and <br />B. WHEREAS, the City has retained Springsted Incorporated, in Saint Paul, <br />Minnesota ("Springsted"), as its independent financial advisor and is therefore authorized to sell <br />these obligations by a competitive negotiated sale in accordance with Minnesota Statutes, <br />Section 475.60, Subdivision 2(9); and <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville, <br />Minnesota, as follows: <br />1. Authorization. The City Council hereby authorizes Springsted to solicit <br />proposals for the competitive negotiated sale of the Certificates. <br />2. Meetin ;Proposal Opening. This City Council shall meet at the time and <br />place specified in the Terms of Proposal attached hereto as Exhibit A for the purpose of <br />considering sealed proposals for, and awarding the sale of, the Certificates. The Finance <br />Director or designee, shall open proposals at the time and place specified in such Terms of <br />Proposal. <br />3. Terms of Proposal. The terms and conditions of the Certificates and the <br />negotiation thereof are fully set forth in the "Terms of Proposal" attached hereto as Exhibit A and <br />hereby approved and made a part hereof. <br />2206410v1 <br />