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Extract of Minutes of Meeting of the <br />City Council of the City of Lino Lakes, <br />Anoka County, Minnesota <br />Pursuant to due call and notice thereof, a special meeting of the Council of the <br />City of Lino Lakes, Minnesota, was duly held in the City Hall in the City of Lino <br />Lakes, on Monday, January 6, 1992, commencing at 6:30 P .m. <br />The following members were present: Neal, Kuether, Elliott, Reinert <br />and the following were absent: None. <br />* * * <br />Member Kuether introduced the following written resolution and moved <br />its adoption the reading of which was dispensed with by unanimous consent: <br />RESOLUTION NO. 92 - 02 <br />RESOLUTION PROVIDING FOR THE PREPAYMENT AND <br />REDEMPTION OF CERTAIN OUTSTANDING <br />GENERAL OBLIGATION BONDS OF THE CITY <br />BE IT RESOLVED By the City Council of the City of Lino Lakes, Anoka <br />County, Minnesota, as follows: <br />1. The City has issued and sold its General Obligation Improvement Bonds, <br />Series 1986A, dated December 1, 1986 (Bonds) in the total principal amount of <br />$475,000. Bonds maturing on or after February 1, 1992, are subject to redemption <br />and prepayment on February 1, 1991 and on any interest payment date thereafter at <br />a price of par plus accrued interest. <br />2. It is determined that it is in the best interests of the sound financial <br />management of the City that Bonds maturing on February 1 in the years 1993 to and <br />including 1997, comprising all of the Bonds subject to redemption on February 1, <br />1992, be prepaid and redeemed on February 1, 1992 and those Bonds are hereby <br />called for redemption on that date. <br />3. The City Clerk -Treasurer is authorized and directed to mail a notice of <br />call for redemption of the Bonds in the form attached hereto as Exhibit A to the <br />registrar for the Bonds. <br />814621259 <br />LN140 -24 <br />