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<br />e <br /> <br />e <br /> <br />e <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 regular or <br /> <br />special meeting of the City Council of the City of Elk River, <br />Minnesota, was duly held in the Elk River City Hall on May 23, <br />1994, commencing at 7:00 P.M., C.T., in part for the purpose of <br />considering the offers which had been received for the purchase <br />of the City's $3,495,000 General Obligation Improvement Bonds, <br /> <br />Series 1994A. <br /> <br />The following Councilmembers were present: <br /> <br />and the following were absent: <br /> <br />*** <br /> <br />*** <br /> <br />*** <br /> <br />There was then presented a tabulation of the offers <br /> <br />which had been received in the manner specified in the Terms of <br /> <br />Proposal for the Bonds. The offers were as follows: <br /> <br />264002.1 <br /> <br />