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<br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />ELK RIVER, MINNESOTA <br /> <br />Pursuant to due call and notice thereof, a special meeting <br />of the City Council of the City of Elk River, Minnesota, was <br />duly held in the Elk River City Hall on September 7, 1993, <br />commencing at 4:30 p.m., C.T. <br /> <br />The following Councilmembers were present: <br />MAYOR DUITSMAN, COUNCILMEMBERS HOLMGREN AND SCHEEL <br /> <br />and the following were absent: <br />COUNCILMEMBERS DIETZ AND FARBER <br /> <br />*** <br /> <br />*** <br /> <br />*** <br /> <br />The Mayor announced that the meeting was convened in part <br />for the consideration of the bids which had been received for <br />the purchase of the City's $3,525,000 General Obligation <br />Permanent Improvement Revolving Fund Bonds, Series 1993B, as <br />offered for sale. <br /> <br />There was then presented a tabulation of the offers which <br />had been received in the manner specified in the Terms of <br />Proposal for the Bonds. The offers were as follows: <br />