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• 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 Obligation Tax Abatement Bonds, Series 2006A (the "Abatement Bonds "), which sale • was originally scheduled on June 26, 2006 but which will be postponed to a date determined by the Finance Director pursuant to Resolution No. 06 -96 approved June 12, 2006. Accordingly, the Finance Director is authorized and directed to designate the date for sale of the Bonds on the same date as that selected for sale of the Abatement Bonds. • 4. Springsted Incorporated is authorized and directed to modify the Terms of Proposal attached to the Prior Resolution to the extent necessary to accommodate the change in schedule. ATT ST: e Bartell, ity Jerk Adopted by the Lino Lakes City Council this 12th day of June, 2006. rgeson, Mayor The motion for the adoption of the foregoing resolution was duly seconded by Council Member 0 ' Donnelalnd upon vote being taken thereon, the following voted in favor thereof: Reinert, O'Donnell,.Stoltz, Carlson, Mayor Bergeson The fllowing voted against same: