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EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE <br />CITY OF ROSEVILLE, MINNESOTA <br />HELD: June 8, 2009 <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 June 8, <br />2009, at 6:00 o'clock P.M. for the purpose in part of authorizing the competitive negotiated sale <br />of the $1,660,000 Taxable General Obligation Housing Improvement Bonds, Series 2009A. <br />The following members were present: <br />and the following were absent: <br />Member introduced the following resolution and moved its adoption: <br />RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATED <br />SALE OF $1,660,000 TAXABLE GENERAL OBLIGATION <br />HOUSING IMPROVEMENT BONDS, SERIES 2009A <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 $1,660,000 Taxable <br />General Obligation Housing Improvement Bonds, Series 2009A (the "Bonds") to finance <br />housing improvements in the City's Westwood Village I Housing Improvement area; 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 Bonds. <br />2. Meetin�; Proposal Openin�. 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 Bonds. The Finance Director or <br />designee, shall open proposals at the time and place specified in such Terms of Proposal. <br />3. Terms of Proposal. The terms and conditions of the Bonds 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 />4. Official Statement. In connection with the sale, the Finance Director and <br />other officers or employees of the City are hereby authorized to cooperate with Springsted and <br />2346082v1 <br />