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EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF ROSEVILLE, MINNESOTA <br />HELD: October 23, 2000 <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of <br />the City of Roseville, Ramsey County, Minnesota, was duly held at the City Hall in said City on <br />Monday, the 23rd day of October, at 6:30 P.M. <br />The following members were present: <br />and the following were absent: <br />Member introduced the following resolution and <br />moved its adoption: <br />RESOLUTION CALLING FOR REDEMPTION OF OUTSTANDING <br />GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 18 <br />A. WHEREAS, the City Council of the City of Roseville, Minnesota (the <br />"City"), issued on behalf of the City, $2,200,000 General Obligation Improvement Bonds, Series <br />18, dated February l, 1992 (the `Bonds"), of which Bonds $325,000 still remains outstanding; <br />and <br />B. WHEREAS, all of the said Bonds maturing in the years 2002 to 2003, <br />both inclusive, are subj ect to redemption and prepayment at the option of the City in inverse <br />order, on March 1, 1998, and on any interest payment date thereafter at par and accrued interest, <br />all as provided in the resolution of the City Council dated January 27, I992 authorizing the <br />issuance of said Bonds (the "Resolution"); and <br />C. WHEREAS, the City Council deems it desirable and in the best interests <br />of the City to call all of the Bonds maturing in the years 2002 to 2003, both inclusive, on <br />March 1, 2001 in accordance with said Resolution; and <br />986410.1 <br />