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