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500782v2 JAE LN140-118 2 <br /> <br /> 3.02. If a petition requesting a vote on the issuance of the Bonds signed by voters equal to five <br />percent (5%) of the votes cast in the last municipal general election is filed with the City Clerk within <br />thirty (30) days after the date of the public hearing, the City may issue the Bonds only after obtaining <br />approval of a majority of voters voting on the question at an election. The authorization to issue the <br />Bonds is subject to expiration of the thirty (30) day period without the City’s receipt of a qualified <br />petition under the Act, or if a qualified petition is filed, upon the approving vote of a majority of the <br />voters voting on the question of issuance of the Bonds. <br /> <br /> 3.03. City staff are authorized and directed to take all other actions necessary to carry out the <br />intent of this resolution. <br /> <br /> <br />Adopted by the City Council of the City of Lino Lakes, Minnesota this 12th day of June, 2017. <br /> <br /> <br />The motion for the adoption of the foregoing resolution was introduced by Council Member <br />_______________and was duly seconded by Council Member ________________ and upon <br />vote being taken thereon, the following voted in favor thereof: <br /> <br />The following voted against same: <br /> <br /> <br /> <br /> <br />_______________________________ <br />Jeff Reinert, Mayor <br /> <br />ATTEST: <br /> <br />________________________ <br />Julianne Bartell, City Clerk <br />