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EXTRACT OF NIINUTES OF MEETING OF CITY COUNCII, CITY OF ROSEVII,LE RAMSEY COUNTY, N�TNESOTA Pursuant to due ca11 and notice thereof, a regular meeting of the City Council of the City of Roseville, County of Ramsey, NTinnesota, was duly held in the City Ha11 at 2660 Civic Center Drive, Roseville, Minnesota, on Monday, February 12, 2001, at 6:30 o'clock p.m. The following members were present: and the following were absent: Member introduced the following resolution and moved its adoption: RESOLUTION 7�:XXX DECLARING THE OFFICIAL INTENT OF THE CITY OF ROSEVII,LE TO REIlVIBURSE CERTAIN EXPENDITURES ASSOCIATED WITH THE 2001 PMP FROM THE PROCEEDS OF BONDS TO BE ISSUED BY THE CITY WHEREAS, the Internal Revenue Service has issued Tres. Reg. 1.150-2 providing that proceeds of tax-exempt bonds used to reimburse prior expenditures will not be deemed spent unless certain requirements are met; and WHEREAS, the City expects to incur certain expenditures which may be financed temporarily from sources other than bonds, and reimbursed from the proceeds of a bond; NOW, TI�REFORE, BE IT RESOLVED BY TI� CITY COUNCIL OF TI� CITY OF ROSEVII,LE (TI� CITY) AS FOLLOWS: 1. The City intends to make expenditures for the projects P-ST-O 1-02, Neighborhood 10; P- ST-SW-O 1-09, Neighborhood 18; and P-ST-SW-O 1- 10, Neighborhood 15, and reasonably intends to reimburse itself for such expenditures from the proceeds of debt to be issued by the City. 2. This resolution is intended to constitute a declaration of official intent for purposes of Tres. Reg. 1.150-2 and any successor law, regulation, or ruling. T h e m o t i o n w a s d u 1 y s e c o n d e d b yand upon vote being taken thereon, the following voted in fa�or thereof: and and the following voted against: Whereupon said resolution was declared duly passed and adopted.