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EXTRACT OF MINUTES OF A MEETING OF THE <br /> CITY COUNCIL OF THE CITY OF <br /> HASTINGS, MINNESOTA <br /> HELD: August 21, 2000 <br /> Pursuant to due call and notice thereof, a regular <br /> meeting of the City Council of the City of Hastings, Dakota and <br /> Washington Counties, Minnesota, was duly called and held at the <br /> City Hall in said City on Monday, the 21st day of August, 2000, <br /> at 7 : 00 P.M. , for the purpose of awarding the sale of, $3, 380, 000 <br /> General Obligation Improvement Bonds, Series 2000A of the City. <br /> The following members were present : <br /> and the following were absent : <br /> Councilmember introduced the <br /> following resolution and moved its adoption: <br /> RESOLUTION ACCEPTING OFFER ON THE <br /> SALE OF $3 , 380, 000 GENERAL OBLIGATION IMPROVEMENT <br /> BONDS, SERIES 2000A, PROVIDING FOR THEIR ISSUANCE <br /> AND LEVYING A TAX FOR THE PAYMENT THEREOF <br /> A. WHEREAS, the City Council of the City of Hastings, <br /> Minnesota (the "City" ) , has heretofore determined and declared <br /> that it is necessary and expedient to issue $3, 380, 000 General <br /> Obligation Improvement Bonds, Series 2000A of the City, pursuant <br /> to Minnesota Statutes, Chapters 429 and 475, to finance the <br /> construction of various improvement projects in the City (the <br /> "Improvements") ; and <br /> B. WHEREAS, the construction of each of the improve- <br /> ment projects to be financed by the Bonds have heretofore been <br /> ordered; and <br /> C. WHEREAS, offers to purchase the Bonds were <br /> solicited on behalf of the City by Springsted Incorporated; and <br /> D. WHEREAS, it is in the best interests of the City <br /> that the Bonds be issued in book-entry form as hereinafter <br /> provided; and <br /> 1194249.1 <br />