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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 11th day of September, 2006 at 6:00 p.m. The following members were present: , and the following were absent: Member introduced the following resolution and moved its adoption: RESOLUTION RESOLUTION DIRECTING THE COUNTY AUDITOR TO ADJUST THE APPROVED TAX LEVY FOR 2007 BONDED DEBT WHEREAS, the City will be required to malce debt service payments on General Improvement Debt in 2007 and WHEREAS, there are reserve funds sufficient to reduce the levy for General Improvement Issues Series 17, � 9, 22, 23, 25, 20�3A, and 2004A by a combined amount of $871,870.92 and WHEREAS, General Improvement Issues Series 17 and 22 have been defeased and are no longer outstanding; and series 23 has been refunded and replaced with series 2004A. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, Minnesota, that The Ramsey County Auditor is directed to decrease the 2007 tax levy for General Improvement Debt by $871,870.92 from that which was originally scheduled upon the issuance of the bonds, which is being paid by debt service reserves or are for debt issues no longer outstanding. The motion for the adoption of the foregoing resolution was duly seconded by member and upon a vote being talcen thereon, the following voted in favor thereof: and the following voted against the same: WHEREUPON, said resolution was declared duly passed and adopted.