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1996..... Vr~~ ~ ~ ~- f-,~.F c ~ Pte( EXTRACT OF MINUTES OF MEETING OF THE VILLAGE COUNCIL OF THE VILLAGE OF FALCON HEIGHTS, RAMSEY COUNTY, MINNESOTA Pursuant to due call and notice thereof, a s~~_<<A-~ meeting of the Village Council of the Village of Falcon Heights, Ramsey County, Minnesota, was duly held at the Village Hall in said Village on September 18, 1863, at ~;~o o'clock f~ .M. The following members were present: and the following were absent: Member ~jTONE introduced the following resolution and moved its adoption: RESOLUTION PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING IMPROVEMENT BONDS OF 1963 BE IT RESOLVED by the Village Council of the Village of .Falcon Heights, Minnesota, as follows: 1. The Village Council does hereby find, determine, and declare that it is necessary and advisable for the reduction of interest cost to the municipality and consistent with the coven- ants made with the holders thereof to refund the principal of $900,000 Sanitary Sewer System Improvement No. 1 Bonds of 1957• 2. It is hereby found and determined that the obligations listed in paragraph 1 above mature more than 6 months after October 1, 1963, the date on which it is proposed to issue the refunding obligations to be issued hereunder, and that the obli- gations to be refunded mature or are callable before October 1, 1973. 3. With respect to the obligations listed in paragraph l above, the Village of .Falcon Heights hereby exercises its right to call said bonds for redemption according to their terms and hereby authorizes and directs the Village Clerk to give notice of call to the bank where said bonds are payable, to the last known holders and to all holders who have registered their names, addresses and bond numbers with'rthe Village Clerk. Each of said bonds is hereby called on the first interest payment date follow- ing the passage of this resolution on which by its terms it is subject to call. ~i