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!'IHEREAS the Villap:e Adninistratnr advises there are sufficient flffids on hand in the sinkinp: fund of said issue tr enable call, redel"";1tion and prior payment o.r- at least a portion or. the bonds remainin? outstandino:; and thell.dministrator i'l.dvises and recommends the redemption of the maturities or- $20,000 each due 1974 a..T1d 1975, exce;Jt bond No. 201 due in 1975 and previously pre-purd1ased, be Made on the interest payment date of Hay 1, 1964 and that by so doinr: the villape, after prepayment of interest r'remium and principal, will realize a savinp:s of $14,820; NOlI! THEP-EFORE BE IT RESIlL\TED BY the Villap:e C01ffiCil of the Villarre 0-1- Posevi11e, ~Hnnesota, as follows: 1. It is necessary and expedient and FeAsible that the villaq;e rurchase for redeMPtion and retirement $39,000 of J11Ul1icipal builc1ina revenue bonds dated Nove'1ber 1, 1955, beinp bonos munbered 181 throup:h 220 maturinG in 1974 and 1975. except bond No. 201 due in 1975 and previously pre-purchased. 2. TI1e Village Administrator is hereby authorized to mail notice of the call of said bonds not less than thirty (30) days prior to the date specified for redemption, beinr,r Hay 1, 1964, to tl1e holder of any of such bonds, if knOhTl1, and if Rny of such holders of prenayable bonds hove registered their names and addresses and serial numbers 1.<!ith the Village Treasurer; and said notice, topether with a copy of this resolution to the i\merican National Bank of Saint Paul, beino: the pavinrr arent at l'lhich principal and interest are -payable. 3. Upon mailing of said notice and a copy of this resolution to the paying ap,ent, American National Rank of Saint Paul, no further interest on said bonds shall accrue after the interest payment date of \lay 1, 1964 and any such holder failing to surrender any bonds or interest coupon in his possession affected herein, shall not be entitled to any interest after said date and the paying agent is hereby instructed to pay accrued interest and premium as provided, to Hay 1, 1964, to the holders of any such bonds and cease the payment of any interest thereafter. 4. The Village Administrator and the ?ayin~ a,rr,ent are hereby authorized, in accordance with the action taken herein, to 8.mend their records accordinp1y and to reduce the amotmt of interest and principal to be paid after Ihy 1, 1964, to such payinrr apent on the remainin\7, bonds o.F said issue still outstanding thereafter.