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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF LITTLE CANADA, MINNESOTA December 20, 1995 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Little Canada, Ramsey County, Minnesota was duly called and held at the City Center of said City on the 20th day of December, 1995 at 7:30 P.M. The following members were present: Fahey, Morelan, LaValle, Pedersen, and Scalze. and the following were absent: None. Council Member introduced the following resolution and moved its adoption: A RESOLUTION APPROVING THE 1996 BONDED INDEBTEDNESS TAX LEVY REDUCTIONS AS RECOMMENDED BY CITY STAFF WHEREAS, City Staff presented to the Council the following proposed bonded indebtedness tax levy reductions for 1996: Bonded Debt: 1966 Special Assessment Bonds $ 44,000.00 1967 Special Assessment Bonds 47,200.00 1978 Special Assessment Bonds 208,585.00 1986 G.O. Storm Sewer Bonds 326,000.00 1990 Fire Station Installment Contract 150,000.00 1992B G.O. Storm Sewer Refunding Bonds 253,977.00 1993B G.O. Refunding Bonds 92,020.00 Total $1,121,782.00 AND WHERAS, 1. 1966 Special Assessment Bonds ($1,600M) Proposed Levy $44,000.00 Reduced - 44,000.00 Amended Levy 0.00 There is hereby irrevocably appropriated the sum of $44,000.00 which shall be credited to the debt service funds of the Bonds of 1966, and the County Auditor is hereby authorized and instructed to reduce the amount mentioned above that tax which would be included in the roll for the year 1995 collectable 1996. 2. 1967 Special Assessment Bonds ($1,300M) Proposed Levy $47,200.00 Reduced -47 200.00 Amended Levy 0.00 There is hereby irrevocably appropriated the sum of $47,200.00 which shall be credited to the debt service funds of the Bonds of 1967, and the County Auditor is hereby authorized and instructed to reduce the amount mentioned above that tax which would be included in the roll for the year 1995 collectable 1996. Page 19