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Attachment B <br />,-fifiR�EN HILLS <br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION NO. 2025-059 <br />DRAFT <br />RESOLUTION APPROVING THE ISSUANCE OF AN EDUCATIONAL <br />FACILITIES REVENUE REFUNDING NOTE, SERIES 2025 (ST. ODILIA <br />SCHOOL PROJECT) <br />BE IT RESOLVED, by the City Council of the City of Arden Hills, Minnesota, as follows: <br />Section 1. Definitions. The terms used in this Resolution (1) have the meanings assigned <br />below or (2) the meanings assigned to them in the Loan Agreement, unless the <br />context, use, or the rules of grammar indicate another or differing meaning or <br />intent, have the meanings assigned below: <br />a. 2017 Note: the City of North Oaks' $4,900,000 Educational Facilities Revenue Note, <br />Series 2017 (St. Odilia School Project) dated May 4, 2017, issued to finance the <br />Project. <br />b. Acts: Minnesota Statutes, Sections 469.152 through 469.1655, as amended, and <br />Minnesota Statutes, Section 471.656, as amended. <br />C. Assignment Agreement: the Assignment Agreement to be entered into between <br />the Issuer, the Borrower, and the Lender. <br />d. Authorized Officers: the Mayor and City Administrator of the Issuer, or any other <br />person authorized under Section 8 of this Resolution entitled "Absent or Disabled <br />Officers". <br />e. Bond Counsel: the law firm of Fryberger, Buchanan, Smith & Frederick, P.A. <br />f. Borrower: The Church of St. Odilia, of Shoreview, Minnesota. <br />g. Code: the Internal Revenue Code of 1986, as amended. <br />h. Compliance Policy: the Issuer's Post -Issuance Debt Compliance Policy, previously <br />adopted by the Issuer. <br />DEED: the Minnesota Department of Employment and Economic Development. <br />DEED Application: DEED's Application for Approval of Local Bond Financing — <br />Pursuant to Minn. Stat. 469.152 — 469.1655. <br />k. Documents: the Issuer Documents and any other documents required for the <br />issuance of the Obligations. <br />Page 1 <br />