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EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />HUGO, MINNESOTA <br />HELD: December 17, 1990 <br />Pursuant to due call and notice thereof, a regular <br />meeting of the City Council of the City of Hugo, Washington <br />County, Minnesota, was duly called and held at the City Hall in <br />said City on the 17th day of December, 1990, at 7 o'clock <br />P M. <br />The following members were present: <br />Tom Jesinski, Mike McAllister, Bob Olson, Deane Vail, and George Atkinson <br />and the following were absent: NONE <br />Member Mike McAllister introduced the following <br />resolution and moved its adoption: <br />1990-42 <br />RESOLUTION PROVIDING FOR THE PUBLIC SALE <br />OF $1,2101000 <br />GENERAL OBLIGATION IMPROVEMENT BONDS OF 1991 <br />BE IT RESOLVED by the City Council of the City of Hugo, <br />Minnesota, as follows: <br />1. Finding: Amount and Pur2ose. It is hereby found, <br />determined and declared that this City should issue $1,210,000 <br />General Obligation Improvement Bonds of 1991 (the "Bonds") to <br />defray the expense of various street improvements in the City. <br />2. Meeting: Bid Opening. This City Council shall meet <br />at the time and place specified in the form of Notice of Bond <br />Sale attached hereto as Exhibit A for the purpose of considering <br />bids for, and awarding the sale of, the Bonds. The Administrator <br />shall open sealed bids at the time and place specified in such <br />Notice of Bond Sale. <br />3. Notice of Bond Sale. The Clerk -Treasurer is hereby <br />authorized and directed to cause notice of the time, place and <br />purpose of said meeting to be published in the official newspaper <br />11069 <br />1 <br />