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. . . .1 .I . EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF MOUNDS VIEW, MINNESOTA Pursuant to due call and notice thereof, a regular or special meeting of the City Council of the City of Mounds View, Minnesota, was duly called and held at the Mounds View City Hall on the 25th day of March, 1991, commencing at 7:00 P.M., C.T. The following Councilmembers were present: Councilmembers Quick, Wuori, Blanchard and Rickaby and Mayor Linke and the following were absent: None Councilmember Ql!irk following resolution and moved its adoption: introduced the RESOLUTION NO. 4064 RESOLUTION PROVIDING FOR PUBLIC SALE OF $2,875,000 GENERAL OBLIGATION WATER REVENUE BONDS, SERIES 1991A BE IT RESOLVED by the City Council of the City of Mounds View, Minnesota, as follows: 1. It is hereby determined: (a) That the City has duly ordered or will order the making of, and has undertaken or will undertake, the following public improvements listed in the attached Exhibit C (the "Improvements") to the City's municipal water system, pursuant to and in full conformity with Minnesota statutes, Section 444.075. (b) That it is necessary and expedient to the sound financial management of the affairs of the City that the City issue its bonds pursuant to Minnesota Statutes, Section 444.075 and Chapter 475, to provide financing for the Improvements. 2. It is hereby found, determined and declared that the City should issue $2,875,000 General Obligation Water Revenue Bonds, Series 1991A (the "Bonds"), to finance the costs of the Improvements, and $37,375 of such amount shall represent additional bonds issued pursuant to Minnesota Statutes, Section 475.56, as additional interest required to market the Bonds at this time. 15140