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Extract of Minutes of Meeting <br />of the City Council of the City of <br />Lino Lakes, Anoka County, Minnesota <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City <br />of Lino Lakes, Minnesota, was duly held in the City Hall in said City on Monday, November 24, <br />2003, commencing at 6:56 o'clock P.M. <br />The following members were present: Councilmembers Carlson, Dahl, O'Donnell, <br />Reinert, and Mayor Bergeson <br />and the following were absent: None <br />*** <br />The Mayor announced that the next order of business was consideration of the proposals <br />which had been received for the purchase of the City's approximately $2,120,000 General <br />Obligation Improvement and Refunding Bonds, Series 2003A. <br />The City Administrator presented a tabulation of the proposals that had been received in <br />the manner specified in the Terms of Proposal for the Bonds. The proposals were as set forth in <br />Exhibit A attached. <br />In accordance with the official Terms of Proposal the following adjustments were made: <br />Principal Amount: $2,090,000 <br />Maturities: 2005 $435,000; 2006 $445,000 <br />Minimum Purchase Price: $2,067,010 <br />After due consideration of the proposals, Member Dahl then introduced the following <br />resolution, and moved its adoption: <br />SJB-240610v1 <br />LN 140-84 <br />