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EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF LITTLE CANADA, MINNESOTA <br />HELD: July 24, 2019 <br /> <br />Pursuant to due call and notice thereof, a regular or special meeting of the City Council <br />of the City of Little Canada, Ramsey County, Minnesota, was held at the City Hall in said City <br />on the 24 th day of July, 2019, at 7:30 P.M. <br />The following members wer e present: <br /> <br />and the following were absent: <br />Member ______________________ introduced the following resolution and moved its <br />adoption: <br />RESOLUTION CALLING FOR REDEMPTION <br />OF CERTAIN OUTSTANDING BONDS <br />A. WHEREAS, the City Council of the City of Little Canada, Minnesota (the “City”) <br />issued its $3,000,000 Taxable General Obligation Tax Increment Bonds, Series 2001A, dated <br />June 29, 2001 (the “Bonds”), of which $965,000 remains outstanding; and <br />B. WHEREAS, the Bonds are subject to redemption and prepayment at the option of <br />the City on any date, at price of par plus accrued interest, all as provided in the resolution of the <br />City Council, dated June 27, 2001, authorizing the issuance of the Bonds (the “Prior <br />Resolution”); and <br />C. WHEREAS, the City Council deems it desirable and in the best interests of the <br />City to call the 2019 through 2022 maturities of the Bond, inclusive, totaling $965,000 in <br />principal amount, on August 1, 2019, in accordance with the Prior Resolution. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Little <br />Canada, Minnesota, as follows: <br />1. Bonds to be Redeemed. All of the Bonds maturing in the years 2019 through <br />2022, inclusive, shall be redeemed and prepaid on August 1, 2019 at par and accrued interest for <br />each such Bond called. <br />2. Mailing of Notice of Redemption. The mailings of notice of redemption waived <br />as permitted by the Prior Resolution. <br />