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WHEREAS, the Village Council on September 5, 1962, passed a resolution ordering the improvement of Water Improvement Project No. 62-2, a part of which public improvement is to acquire existing water systems; and WHEREAS, the Village Council deems it in the best interests of the Village to acquire the plant and existing water works of the Minnesota Water Company, Inc., so as to ultimately have an integrated surface water system, NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL FOR THE VILLAGE OF ROSEVILLE, MINNESOTA, AS FOLLOWS: 1. That the Village of Roseville hereby invokes the first sentence of Section 15 of Ordinance No. 295, being the franchise between the Village of Roseville and the Minnesota Water Company, Inc., and does hereby terminate said franchise and agrees to purchase said plant and water works system of said Company lying within the Village of Roseville by paying the Company the reasonable value thereof, to be settled by arbitration in accordance with Section 15 of said Ordinance No. 296. 2. The Village Clerk is hereby instructed to forthwith remit a certified copy of this resolution to the Minnesota Water Company, Inc., at its registered office. 3. The Village Attorney is hereby authorized to forthwith suggest an arbitrator for the Village of Roseville, subject to confirmation by the Village Council, and when said arbitrator is selected by the Council, to then inform the Minnesota Water Company, Inc., of the name and address of said arbitrator and to request the Company to forthwith appoint its arbitrator so that the two arbitrators may appoint the third arbitrator, in accordance with Section 15 of said Ordinance No. 296. The motion for the adoption of the foregoing Resolution was duly seconded by Member Goodrich, and upon a vote being taken thereon, the following voted in favor of the same: Mayor McGee, Trustees Flanagan, Goodrich and Kustermann. and the fOllowing voted against the same: None. Page Two