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S. WHEREAS, the refunding of the Refunded Sonds on the Call Date is consistent with covenants made with the holders thereof, and is necessary and desirable for the reduction of debt service cost to the City; and C. WHEREAS, the City Council hereby determines and declares that it is necessary and expedient to issue $1,105,000 General Obligation Refunding Improvement Sonds, Series 20095, pursuant to Minnesota Statutes, Chapter 475, to provide moneys for a current refunding of the Refunded Sonds; and D. WHEREAS, it is in the best interests of the City that the Sonds be issued in book- entry form as hereinafter provided; and NOW, THEREFORE, SE IT RESOLVED by the Council of the City of Roseville, Minnesota, as follows: 1. Acceptance of Proposal. The proposal of (the 'Purchaser"), to purchase the Sonds in accordance with the terms and at the rates of interest hereinafter set forth, and to pay therefor the sum of $ , plus interest accrued to settlement, is hereby found, determined and declared to be the most favorable proposal received and is hereby accepted, and the Sonds are hereby awarded to said proposal maker. The City Manager is directed to retain the deposit of said proposal maker and to forthwith return to the unsuccessful bidders their good faith checks and drafts. Terms of Sonds. (a) Original Issue Date; Denominations; Maturities. The Sonds shall be dated August 1, 2009, as the date of original issue and shall be issued forthwith on or after such date in fully registered form. The Sonds shall be numbered from R-1 upward in the denomination of $5,000 each or in any integral multiple thereof of a single maturity (the "Authorized Denominations"). The Sonds shall mature on March 1 in the years and amounts as follows: Year Amount 2010 2011 2012 2013 2014 All dates are inclusive. As may be requested by the Purchaser, one or more term Sonds may be issued having mandatory sinking fund redemption and final maturity amounts conforming to the foregoing principal repayment schedule, and corresponding additions may be made to the provisions of the applicable Sond(s). (b) Sook Entry Only System. The Depository Trust Company, a limited purpose trust company organized under the laws of the State of New York or any of its successors or its successors to its functions hereunder (the "Depository") will act as securities depository for the Sonds, and to this end: 2377316v1 2