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10/23/91 11:36 FAX 612 223 3002 <br />SPRINGSTED INC. 0002/006 <br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />LITTLE CANADA, MINNESOTA <br />HELD: October i, 1991 <br />Pursuant to due call and <br />meeting of the City Council of the <br />County, Minnesota, was duly called <br />said City on , the _ <br />o'clock .M. <br />notice thereof, a <br />City of Little Canada, Ramsey <br />and held at the City Hall in <br />_ day of October, 1991, at <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 CALLING FOR REDEMPTION OF <br />OUTSTANDING GENERAL OBLIGATION IMPROVEMENT BONDS OF 1984 <br />A. WHEREAS, the City Council of the City of Little <br />Canada, Minnesota (the "City"), issued on behalf of the City <br />$105,000 General Obligation Improvement Bonds of 1984, dated <br />December 1, 1984 (the "Bonds "), of which Bonds $55,000 still <br />remain outstanding; and <br />8. WHEREAS, all of the Bonds maturing in the years <br />1992 through 1995, both inclusive, totaling $45,000 in principal <br />amount, are subject to redemption and prepayment at the option of <br />the City in inverse order, on December 1, 1991, and on any <br />interest payment date thereafter at par and accrued interest plus <br />a premium of one -half of one percent (.50$), all as provided in <br />the resolution of the City Council dated November 14, 1984 <br />authorising the issuance of the Barnlb (Lhm "RabuluLlon "); and <br />C. WHEREAS, the City Council deems it desirable and in <br />the best interests of the City to call all of the Bonds maturing <br />in the years 1992 through 1995, both inclusive, totaling $45,000 <br />in principal amount, on December 1, 1991, in accordance with the <br />Resolution; and <br />23966 <br />Page 1 <br />