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EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF <br />THE CITY OF MOUNDS VIEW, MINNESOTA <br />HELD: April 23, 2018 <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of <br />City of Mounds View, Minnesota ("Mounds View"), was duly called and held at the City Hall in <br />the City on Monday, the 23rd day of April, 2018, at 6:30 o'clock P.M. <br />The following members were present: Mueller, Gunn, Hull, Meehlhause, Bergeron <br />Member introduced the following resolution and moved <br />its adoption: <br />RESOLUTION No. 8951 <br />APPROVING GENERAL OBLIGATION EQUIPMENT CERTIFICATES OF <br />INDEBTEDNESS, SERIES 2018A TO BE ISSSUED BY THE CITY OF BLAINE, <br />MINNESOTA <br />A. WHEREAS, the Cities of Spring Lake Park, Mounds View and Blaine (collectively <br />the "Cities") jointly contract for fire protection and other public safety services pursuant to a Joint <br />Powers Agreement For the Provision of Fire Protection Services, dated December 11, 1990, as <br />previously amended and supplemented (the "Existing Joint Powers Agreement") which the Cities <br />propose to supplement pursuant to a Fourth Supplement to Joint Powers Agreement in <br />substantially the form attached as Exhibit B hereto (the "Supplement" and, together with the <br />Existing Joint Powers Agreement, the "Joint Powers Agreement") to authorize the City of Blaine <br />("Blaine") to issue general obligation equipment certificates of indebtedness to finance various <br />equipment for municipal fire protection and firefighting purposes (the "Equipment"), with a pledge <br />of repayment from Mounds View and Spring Lake Park; <br />B. WHEREAS, Blaine proposes to issue its General Obligation Equipment <br />Certificates of Indebtedness, Series 2018A (together with obligations issued in the future to refund <br />such certificates, the "Certificates") to finance the Equipment pursuant to Minnesota Statutes, <br />Chapter 475 and Section 412.301 (collectively, the "Act") and pursuant to the Terms of Proposal <br />attached hereto as Exhibit A; and <br />C. WHEREAS, this Resolution memorializes and certifies Mounds View's obligation <br />to pay a portion of the debt service on the Certificates, pursuant to the payment formula found on <br />Exhibit A to the Joint Powers Agreement (the "Formula"), as such Formula may change from time <br />to time through the final maturity date of the Certificates in accordance with the Joint Powers <br />Agreement; and <br />2 <br />519964v2 JSB BL140-35 <br />