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<br />. <br /> <br />. <br /> <br />. <br /> <br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />MOUNDS VIEW, MINNESOTA <br /> <br />Pursuant to due call and notice thereof, a regular or <br />special meeting of the City Council of the City of Mounds View, <br />Minnesota, was duly called and held at the Mounds View City Hall on <br />February 5, 1996, beginning at /O:u2-- o'clock P.M., C.T. <br /> <br />The following members of the Council were present: <br /> <br />//"/./~(:/ ~OC/ Ol./(CK./ /4K;1/~-/z'/ ;:1L~C~~.D <br />and the following were absent: <br /> <br />following <br />unanimous <br /> <br />Councilmember ~/~~c/~~ <br />resolution, the reading of which was <br />consent of the Council, and moved its <br /> <br />introduced the <br />dispensed with by <br />adoption: <br /> <br />RESOLUTION NO. YY;7 0 <br /> <br />RESOLUTION INITIATING THE PROCESS FOR THE <br />SALE OF THE CITY'S <br />TAXABLE GENERAL OBLIGATION TAX INCREMENT REFUNDING <br />BONDS, SERIES 1996A <br /> <br />BE IT RESOLVED by the City Council (the "Council") of the <br />City of Mounds View, Minnesota (the "City"), as follows: <br /> <br />1. <br />following: <br /> <br />The Council hereby finds and determines the <br /> <br />(a) The Council believes it to be in the <br />City'S best interest to consider an advance <br />refunding of the City'S Taxable General Obligation <br />Tax Increment Bonds, Series 1989A, dated April 1, <br />1989, and the City'S Taxable General Obligation Tax <br />Increment Bonds, Series 1989C, dated November 1, <br />1989, issued in the original principal amounts of <br />$1,760,000 and $1,490,000 respectively <br />(collectively, the "Prior Bonds") . <br /> <br />311067.1 <br />