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<br />.... <br /> <br />EXTRACT OF MINUTES OF MEETING <br />OF THE CITY COUNCIL OF THE <br />CITY OF NEW BRIGHTON. MINNESOTA <br /> <br />Pursuant to due call and notice thereof a special meeting of the City Council <br />?f the C~ty of New Br~ghton, Ramsey County, Minnesota, was held at the City Hall <br />In the CIty of New BrIghton on Tuesday, November 30, 1993, commencing at 5:40 <br />p.m. <br /> <br />The following members of the City Council were present: Robert J. Benke, <br />Arlyn Gunderman and Dana Rebelein <br /> <br />and the following were absent: Steve Larson and Roger Williams <br /> <br />The following resolution was presented by Council Member Rebelein <br />who moved its adoption: <br /> <br />RESOLUTION NO. 93-134 <br />RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY <br />OF A LEASE PURCHASE AGREEMENT <br />WITH THE NEW BRIGHTON ECONOMIC DEVELOPMENT AUTHORITY <br />AND APPROVING THE ISSUANCE OF BONDS BY THE <br />NEW BRIGHTON ECONOMIC DEVELOPMENT AUTHORITY <br /> <br />BE IT RESOLVED By The City Council of the City of New Brighton, Ramsey <br />County, Minnesota (the "City") as follows: <br /> <br />1. It is hereby found and determined that it is in the best interest of the <br />public health, safety and welfare of the City that it enter into that certain Lease <br />Purchase Agreement between the New Brighton Economic Development Authority (the <br />"EDA") and the City dated as of January 1, 1994, relating to the lease by the EDA <br />to the City of the family service center described therein. <br /> <br />2. The City is authorized pursuant to Minnesota Statutes, Section 465.71 <br />to enter into a lease with an option to purchase of real or personal property without <br />the requirement of an election as long as the City has the right to terminate such a <br />lease at the end of any fiscal year during its term. <br /> <br />3. The Mayor and City Manager of the City are hereby authorized and <br />directed to enter into the Lease Purchase Agreement described above in substantially <br />the form on file with the City Clerk on the date hereof with such modifications or <br />revisions as may be approved by the Mayor. Execution of the Lease Purchase <br />Agreement by the Mayor shall be conclusive evidence of the approval of any such <br />modifica tions or revisions. <br /> <br />4. The City hereby approves the issuance by the EDA of its $5,040,000 <br />Family Service Center Revenue Bonds (City of New Brighton, Minnesota Lease <br />Obligations), Series 1994A. <br /> <br />SlIG61866 <br />Nl136-112 <br /> <br />1 <br />