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FROM BRIGGS MORGAN SP (THU)10.17.'91 10:28 <br />DRAFT <br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />LITTLE CANADA, MINNESOTA <br />HELD: October _, 1991 <br />NO.9 PAGE 2 <br />Pursuant to due call and notice thereof, a <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 day of October, 1991, at <br />o'clock _.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 CALLING FOR REDEMPTION OF CERTAIN <br />OUTSTANDING GENERAL OBLIGATION IMPROVEMENT BONDS OF 1983 <br />A. WHEREAS, the City Council of the City of Little <br />Canada, Minnesota (the "City "), issued on behalf of the City <br />$1,480,000 General Obligation Improvement Bonds of 1983, dated <br />May 1, 1983 (the "Bonds "), of which Bonds $675,000 still remain <br />outstanding; and <br />B. WHEREAS, all of the Bonds maturing in the years <br />1991 through 1995, both inclusive (Bonds numbered 162 to 296, <br />both inclusive), totaling $675,000 in principal amount, are <br />subject to redemption and prepayment at the option of the City in <br />inverse order of serial numbers, on December 1, 1990, and on any <br />interest payment date thereafter at par and accrued interest, all <br />as provided in the resolution of the City Council dated April 27, <br />1983 authorizing the issuance of the Bonds (the "Resolution "); <br />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 />z10 <br />Page 42 <br />