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Extract of Minutes of Meeting of the <br /> City Council of the City of Elk River, <br /> Sherburne County, Minnesota <br /> Pursuant to due call and notice thereof, a regular meeting of the Council of the City of Elk <br /> River, Minnesota, was duly held in the City Hall in the City of Elk River, on Monday,June 17, 2013, <br /> commencing at 6:30 p.m. <br /> The following members were present: <br /> and the following were absent: <br /> Member introduced the following resolution and moved its adoption: <br /> RESOLUTION NO. <br /> RESOLUTION PROVIDING FOR THE REDEMPTION OF CERTAIN OUTSTANDING <br /> ELECTRIC REVENUE BONDS, SERIES 2004A OF THE CITY <br /> BE IT RESOLVED By the City Council of the City of Elk River, Sherburne County, <br /> Minnesota(the"City''),as follows: <br /> 1. The City has issued its Electric Revenue Bonds, Series 2004A, dated August 1, 2004 <br /> (the`Bonds"), in the original aggregate principal amount of $940,000. The Bonds maturing on <br /> February I in the years 2014 and 2015, in the aggregate principal amount of $225,000 (the "Callable <br /> Bonds' are subject to redemption and prepayment on any date at a price of par plus accrued interest. <br /> 2. The Elk River Municipal Utilities Commission has requested, and it is determined that <br /> it is in the sound financial management of the City, that the Callable Bonds be prepaid and redeemed <br /> on August 1, 2013, or such later date for which proper notice of call may be given, and such bonds are <br /> hereby called for redemption on such date. <br /> 3. The City Finance Director is authorized and directed to request that U.S. Bank National <br /> Association, the paying agent and bond registrar (the "Registrar"), mail the Notice of Call for <br /> Redemption in substantially the form attached hereto as Exhibit A to the registered owners of each <br /> Bond to be redeemed at the addresses shown on the registration books kept by the Registrar. <br /> 42346942 JSB EL185-18 <br />