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EXTRACT OF THE MINUTES <br />OF A MEETING OF THE CITY COUNCIL <br />OF THE CITY OF LITTLE CANADA, MINNESOTA <br />DECEMBER 17, 1998 <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City <br />of Little Canada, Ramsey County, Minnesota was duly called and held at the City Center <br />of said City on the 17th day of December, 1998 at 7:00 P.M. <br />The following members were present: <br />Fahey, Scalze, LaVaile, Morelan, and Pedersen; <br />and the following were absent: None. <br />Council Member introduced the following resolution and moved its adoption: <br />A RESOLUTION ALLOCATING GENERAL FUND <br />& CAPITAL IMPROVEMENT DOLLARS TO BONDED DEBT REDUCTION <br />AS RECOMMENDED BY CITY STAFF <br />WHEREAS, <br />The City Administrator recommended that General Fund monies in the amount of <br />$637,000.00 and Infrastructure C.I.P. Fund monies in the amount of $27,185.00 be <br />allocated to reduce Bonded Debt during 1999 as follows: <br />Bonded Debt: <br />Public Project Rev. Refunding 1993 181,400.00 <br />G.O. Sewer Refunding 1992B 482,785.00 <br />Total $664,185.00 <br />NOW THEREFORE BE IT RESOLVED, by the City Council of Little Canada, <br />Minnesota that the Council hereby approves the allowing of $637,000.00 in General Fund <br />dollars and $27,185.00 in Infrastructure C.I.P. Fund dollars to the reduction of Bonded <br />Debt during 1999 as indicated above. <br />The adopting of the foregoing resolution was seconded by Council Member and <br />upon vote taken thereon, the following voted in favor thereof: <br />Fahey, Scalze, LaVaile, Morelan, and Pedersen. <br />and the following voted against same: None. <br />Whereupon said resolution was declared duly passed and adopted by the Council this 17th <br />day of December, 1998. <br />Page 36 <br />