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EXTRACT OF MINUTES OF A MEEING OF THE <br />CITY COUNCIL <br />OF THE CITY OF LAKE ELMO, MINNESO'T'A <br />HELD- SEPTEMBER 18, 2001 <br />Pursuant to due call and notice thereof, a regular meeting of the City Council (the <br />"Council ") of the City of Lake Elmo (the "City "), Washington County, Minnesota, was <br />duly called and held at the City Hall in said City on September 1.8, 2001 at 6:00 p.m. <br />The following members were present: Hunt, Armstrong, DeLapp, Dunn, Siedow <br />and the following members were absent: none. <br />Member Siedow introduced the following resolution and moved its adoption: <br />RESOLUTION 2001 -074 <br />RESOLUTION APPROVING THE FINANCING OF CERTAIN CITY BONDS <br />WHEREAS, the City has an upcoming issuance of approximately $1,080,000 <br />State Aid Road and Improvement Bonds of 2001 (the "Bonds "); and <br />WHEREAS, Juran & Moody, a division of Miller Johnson. Steichen Kinnard, <br />Incorporated ( "Juran & Moody") has indicated a willingness to purchase the Bonds upon <br />receipt from the City, County, and School. District of various required information; and <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Lake Elmo, Minnesota as follows: <br />1. The Mayor, Administrator and Finance Director are hereby jointly authorized <br />to approve the sale of certain Bonds to Juran & Moody in the amount <br />illustrated to this Council on this date at such time as Juran & Moody advises <br />that it has received the required information. <br />2. That within 72 hours of the foregoing approval, this City Council will meet to <br />adopt the necessary resolution drafted by bond counsel. <br />