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EXTRACT OF MINUTES OF A MEETING OF THE1110 <br /> CITY COUNCIL OF THE CITY OF <br /> MOUNDS VIEW, MINNESOTA <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 ' clock P.M. , C.T. <br /> The following members of the Council were present : <br /> and the following were absent : <br /> Councilmember introduced the <br /> following resolution, the reading of which was dispensed with by <br /> unanimous consent of the Council, and moved its adoption: <br /> RESOLUTION NO. 4891 <br /> i <br /> RESOLUTION INITIATING THE PROCESS FOR THE <br /> SALE OF THE CITY'S <br /> GENERAL OBLIGATION TAX INCREMENT REFUNDING <br /> BONDS, SERIES 1996B <br /> BE IT RESOLVED by the City Council (the "Council" ) of the <br /> City of Mounds View, Minnesota (the "City" ) , as follows : <br /> 1 . The Council hereby finds and determines the <br /> following: <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 General Obligation Tax <br /> Increment Bonds, Series 1989B, dated November 1, <br /> 1989, issued in the original principal amount of <br /> $930, 000 (the "Prior Bonds" ) . <br /> 311081.1 11/0 <br />