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Extract of Minutes of Meeting <br />of the City Council of the City <br />of Lino Lakes, Anoka County, Minnesota <br />Pursuant to due call and notice thereof a regular meeting of the City <br />Council of the City of Lino Lakes, Anoka County, Minnesota, was held at the <br />City Hall in the City on Monday, June 10, 1991, commencing at 6:30 P.M. <br />The following members of the Council were present: Neal, Kuether, Bisel, <br />Reinert, Bohjanen. <br />and the following were absent: none. <br />*** <br />The following resolution was presented by Member Bohjanen who <br />moved its adoption: <br />RESOLUTION NO. 55 - 91 <br />RESOLUTION PROVIDING FOR THE ISSUANCE <br />AND SALE OF $4,260,000 GENERAL OBLIGATION TEMPORARY <br />IMPROVEMENT BONDS, SERIES 1991A <br />BE IT RESOLVED By the City Council of the City of Lino Lakes, <br />Anoka County, Minnesota (City) as follows: <br />1. It is hereby determined that: <br />(a) the City has previously issued and sold its $610,000 <br />General Obligation Temporary Improvement Bonds, Series <br />1988B, dated October 1, 1988, which mature October 1, <br />1991 (Series 1988 B Bonds) pursuant to the provisions <br />of the home rule charter of the City; <br />(b) there will be insufficient funds available to pay <br />principal and interest on the Series 1988B Bonds at <br />maturity as follows: <br />