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i Extract of Minutes of Meeting of the City Council of the City of Lino Lakes, Anoka County, Minnesota Pursuant to due call and notice thereof a regular meeting of the City Council of the City of Lino Lakes, Anoka County, Minnesota, was held at the City Hall in the City on Monday, June 12, 2006, commencing at 6:30 P.M. The following members of the Council were present: and the following were absent: * ** The following written resolution was presented by Member who IIImoved its adoption the reading of which had been dispensed with by unanimous consent: RESOLUTION NO. 06 -97 RESOLUTION AMENDING SCHEDULE FOR THE ISSUANCE AND SALE OF APPROXIMATELY $570,000 GENERAL OBLIGATION UTILITY REVENUE BONDS, SERIES 2006B BE IT RESOLVED By the City Council of the City of Lino Lakes, Anoka County, Minnesota (the "City ") as follows: 1. By Resolution No. 06 -86 approved by the City Council on May 22, 2006 ( "Prior Resolution "), the City approved certain Terms of Proposal for the sale of it's $570,000 General Obligation Utility Revenue Bonds, Series 2006B (the "Bonds ") pursuant to Minnesota Statutes, Ch. 444 (the "Act ") to provide financing for certain utility improvements in the City. 2. The Prior Resolution authorized Springsted Incorporated to negotiate the Bonds in accordance with the Terms of Proposal attached thereto, and to bring proposals for consideration by the Council at its meeting on Monday, June 26, 2006. • 3. The City has determined that it is in the City's best interest to postpone sale of the Bonds to coincide with sale of the City's approximately $2,470,000 General