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A91,303oil I <br />RESOLUTION ION 2012-28 <br />BE 1T RESOLVED by the City Council of the City of Lake Elmo (the "City") as <br />follows: <br />WHEREAS, It is hereby determined to be in the best interests of the City to issue <br />its General Obligation improvement Bonds, Series 2012B, in the principal amount of <br />$865,000 (the Bonds), pursuant to Minnesota Statutes, Chapters 429 and 475, to finance <br />improvement projects in the City. <br />WHEREAS, Northland Securities, Inc, is hereby authorized, pursuant to <br />Minnesota Statutes, Section 475.60, Subdivision 2, paragraph (9), to solicit proposals for <br />the Bonds on behalf of the City on a competitive basis without requirement of published <br />notice. The City Council shall meet at the time and place shown in the Notice of Sale <br />prepared for the Bonds for the purpose of considering proposals for the purchase of the <br />Bonds and of taking such action thereon as may be in the best interests of the City. <br />Upon vote being taken thereon, the following voted in favor thereof: <br />and the following voted against the same: <br />Whereupon the Resolution was declared duly passed and adopted on this nineteenth day <br />of June, 2012. <br />CITY OF LAKE ELMO CTT- 'COUNCIL <br />By: <br />Dean A. Johnston <br />Mayor <br />ATTEST: <br />1�hvh DIV" <br />Sandie Thone <br />City Clerk <br />Resolution 201.2-28 <br />