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~ f <br />EXTRACT OF MINUTES OF A MEETING OF THE <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 />the 25th day of March, 1991, commencing at 7:00 P.M., C.T. <br />The following Counciimembers were present: <br />Councilmembers Quick, Wuori, 3lanchard and Rickaby and P~ayor <br />Linke <br />and the following were absent: None <br />Councilmember ,Qi,irk introduced the <br />following resolution and moved its adoption: <br />RESOLUTION NO. 4064 <br />RESOLUTION PROVIDING FOR PUBLIC SALE <br />OF $2,875,000 GENERAL OBLIGATION <br />WATER REVENUE BONDS, SERIES 1991A <br />BE IT RESOLVED by the City Council of the City of Mounds <br />View, Minnesota, as follows: <br />1. It is hereby determined: <br />(a) That the City has duly ordered or will <br />order the making of, and has undertaken <br />or will undertake, the following public <br />improvements listed in the attached <br />Exhibit C (the "Improvements") to the <br />City's municipal water system, pursuant <br />to and in full conformity with Minnesota <br />Statutes, Section 444.075. <br />(b) That it is necessary and expedient to the <br />sound financial management of the affairs <br />of the City that the City issue its bonds <br />pursuant to Minnesota Statutes, Section <br />444.075 and Chapter 475, to provide <br />financing for the Improvements. <br />2. It is hereby found, determined and declared that the City <br />should issue $2,875,000 General Obligation Water Revenue Bonds, <br />Series 1991A (the "Bonds"), to finance the costs of the <br />Improvements, and $37,375 of such amount shall represent additional <br />bonds issued pursuant to Minnesota Statutes, Section 475.56, as <br />additional interest required to market the Bonds at this time. <br />15140 <br />