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1. Authorization; Findings. The City Council hereby <br />authorizes Sprin~sted to solicit bids for the competitive <br />negotiated sale of the Bonds. <br /> <br /> 2. Meeting; Bid Opening. This City Council shall <br />meet at the time and place specified in the Terms of Proposal <br />attached hereto as Exhibit A for the purpose of considering <br />sealed bids for, and awarding the sale of, the Bonds. The <br />Administrator, or his designee, shall open bids at the time and <br />place specified in such Terms of Proposal. <br /> <br /> 3. Terms of Proposal. The terms and conditions of <br />the Bonds and the negotiation thereof are fully set forth in the <br />"Terms of Proposal" attached hereto as Exhibit A and hereby <br />approved and made a part hereof. <br /> <br /> 4. Official Statement. In connection with said <br />competitive negotiated sale, the Administrator, Finance Director <br />and other officers or employees of the City are hereby authorized <br />to cooperate with Springsted and participate in the preparation <br />of an official statement for the Bonds, and to execute and <br />deliver it on behalf of the City upon its completion. <br /> <br /> The motion for the adoption of the foregoing resolution <br />was duly seconded by member FARBER and, after full <br />discussion thereof and upon a vote being taken thereon, the <br />following voted in favor thereof: <br />MAYOR DUITSMAN <br />COUNCILMEMBERS: DIETZ, SCHEEL, FARBER & HOLMGREN <br /> <br />and the following voted against the same: <br /> NONE <br /> <br /> Whereupon said resolution was declared duly passed and <br />adopted. <br /> <br />320407.1 2 <br /> <br /> <br />