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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, <br /> 2013,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 1 in the years 2014 and 2015, in the aggregate principal amount of $225,000 (the <br /> "Callable Bonds"), are subject to redemption and prepayment on any date at a price of par plus <br /> accrued interest. <br /> 2. The Elk River Utilities Commission has requested, and it is determined that it is in <br /> the sound financial management of the City, that the Callable Bonds be prepaid and redeemed on <br /> 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 /> 423469v2 JSB ELI 85-18 <br />