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EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />LITTLE CANADA, MINNESOTA <br />HELD: November 13, 1991 <br />Pursuant to due call and notice thereof, a regular <br />meeting of the City Council of the City of Little Canada, Ramsey <br />County, Minnesota, was duly called and held at the City Hall in <br />said City on the 13th day of November, 1991, at o'clock <br />.M. <br />The following members were present: <br />and the following were absent: <br />Member introduced the following <br />resolution and moved its adoption: <br />RESOLUTION PROVIDING FOR THE COMPETITIVE NEGOTIATION <br />OF $325,000 <br />GENERAL OBLIGATION IMPROVEMENT BONDS, <br />SERIES 1992A <br />A. WHEREAS, the City Council of the City of Little <br />Canada, Minnesota (the "City "), has heretofore determined that it <br />is necessary and expedient to issue its $325,000 General Obliga- <br />tion Improvement Bonds, Series 1992A (the "Bonds ") to finance an <br />improvement project within the City; and <br />B. WHEREAS, the City intends to retain Springsted <br />Incorporated, in St. Paul, Minnesota ( "Springsted "), as an <br />independent financial advisor and therefore has determined to <br />sell these obligations pursuant to competitive negotiation in <br />accordance with Minnesota Statutes, Section 475.60, Subdivision <br />2(9); and <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of <br />the City of Little Canada, Minnesota, as follows: <br />1. Authorization; Findings. The City hereby <br />authorizes Springsted to act as its independent financial advisor <br />for the negotiation of the Bonds and to submit advertised <br />competitive bids for the Bonds; provided that no bid shall be <br />accepted until the City Council adopts a resolution accepting the <br />24933 <br />Page 2 <br />