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Extract of Minutes of Meeting of the City Council of the City of Roseville, Ramsey County, Minnesota Pursuant to due call and notice thereof a regular meeting of the City Council of the City of Roseville, Ramsey County, Minnesota, was held at the City Hall in the City on Monday, December 13, 1993, commencing at 7:30 P.M. The following members of the Council were present: Goedeke, P. Johnson, Maschka, Cushman, and V. Johnson, and the following were absent: No ne . . * . . . * * . . The following resolution was presented by CouncilmemberP. Johnson who moved its adoption: RESOLUTION NO. 9019 RESOLUTION PROVIDING FOR THE ISSUANCE AND SALE OF $8,640,000 GENERAL OBLIGATION REFUNDING IMPROVEMENT BONDS, SERIES 1994 BE IT RESOLVED By the City Council of the City of Roseville, Ramsey County, Minnesota (City) as follows: 1. It is hereby determined that: (a) the City is authorized by Minnesota Statutes, Chapter 475 (Act) and Section 475.67, Subdivisions 4 through 12, of the Act to issue and sell its general obligation bonds to refund obligations and the interest thereon before the due date of the obligations, if consistent with covenants made with the holders thereof, when determined by the City Council to be necessary or desirable for the reduction of debt service cost to the City or for the extension or adjustment of maturities in relation to the resources available for their payment; (b) it is necessary and desirable to reduce interest costs and the adjustment of maturities of bonds that the City issue approximately $8,640,000 General Obligation Refunding Improvement Bonds, Series 1994 (Bonds) to refund certain outstanding general obligations of the City; DJK61265 JUl200-13 1