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The Council then proceeded to consider and discuss the proposals, after which Member Roe introduced the following resolution and moved its adoption: RESOLUTION NO 10738 RESOLUTION ACCEPTING PROPOSAL ON THE COMPETITIVE NEGOTIATED SALE OF $1,155,000 TAXABLE GENERAL OBLIGATION HOUSING IMPROVEMENT BONDS, SERIES 2009A AND PLEDGING FOR THE SECURITY THEREOF TAX INCREMENTS A. WHEREAS, the City Council of the City of Roseville, Minnesota (the "City"), has heretofore established the Westwood Village I Housing Improvement Area (the "Housing Improvement Area") pursuant to the provisions of Minnesota Statutes, Sections 428A.11 through 428A.21, (the "Housing Improvement Area Law") in order to effect certain housing improvements (the "Housing Improvements") to the Housing Improvement Area; and B. WHEREAS, the Council also heretofore proposed and established a housing improvement fee (the "Housing Fees") to be collected for improvements and repairs to the housing units within the Housing Improvement Area; and C. WHEREAS, the City Council hereby determines and declares that it is necessary and expedient to issue Taxable General Obligation Housing Improvement Bonds, Series 2009A in the amount of $1,155,000 (the "Bonds" or individually a "Bond"), pursuant to the Housing Improvement Area Law and Minnesota Statutes, Chapter 475, to finance the Housing Improvements; and D. WHEREAS, it is in the best interests of the City that the Bonds be issued in book- entry form as hereinafter provided; and NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Roseville, Minnesota, as follows: 1. Acceptance of Proposal. The proposal of Wells Fargo Brokerage Securities, LLC of Minneapolis, Minnesota (the "Purchaser"), to purchase the Bonds, in accordance with the Terms of Proposal, at the rates of interest hereinafter set forth, and to pay therefor the sum of $1,148,742.00, plus interest accrued to settlement, is hereby found, determined and declared to be the most favorable proposal received and is hereby accepted, and the Bonds are hereby awarded to the Purchaser. The Manager is directed to retain the deposit of the Purchaser and to forthwith return to the unsuccessful bidders their good faith checks and Financial Surety Bonds. 2. Bond Terms. (a) Title; Original Issue Date• Denominations• Maturities. The Bonds shall be titled "Taxable General Obligation Housing Improvement Bonds, Series 2009A", shall be dated August 1, 2009, as the date of original issue, shall be issued forthwith on or after such date in fully registered form, shall be numbered from R-1 upward in the denomination of $5,000 each or 2 2377798x1