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( . . ." STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF ARDEN HILLS Resolution No. 83-60 RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL FOR A COMMERCIAL FACILITIES DEVELOPMENT PROJECT PURSUANT TO THE MINN- ESOTA MUNICIPAL INDUSTRIAL DEVELOPMENT ACT AUTHORIZING THE PUBLICATION OF A NOTICE OF SAID HEARING WHEREAS. (a) Chapter 474, Minnesota Statutes. known as the Minnesota Municipal Industrial Development Act (the "Act") gives municipalities the power to Issue revenue bonds for the purpose of the attraction, promotion, encouragement and develop- ment of economically sound Industry and commerce; (b) The City COuncil of the City of Arden Hills (the "City") has received from Arden HI lis Business Center Partners - Phase II. a limited partnership to be formed under the laws of the State of Minnesota with Woodbridge Properties Real Estate Development Fund. as the managing general partner (the "Company") a proposal that the City assist In financing a project hereinafter described, through the Issu- ance of Its Industrial revenue bonds (which may be In the form of a single debt Instrument) (the "Bonds") pursuant to the Act; (c) Before proceeding with consideration of the request of the Company It Is necessary for the City to hold a public hearing on the proposal pursuant to Section 474.01, Subdivision 7b. Minnesota Statutes; NOW, THEREFORE, BE IT RESOLVED by the City Councl I of the City of Arden Hills, Minnesota, as follows: I. A Public Hearing on said proposal of the Company will be held at the time and place set forth In the Notice of Hearing hereto attached. 2. The general nature of the proposal and an estimate of the principal amount of bonds to be Issued to finance the proposal are described In the form of Notice of Hearing hereto attached. 3. The Notice of said Public Hearing shall be in substantially the form contained In the Notice hereto attached.