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REQUEST FOR COUNCIL ACTION DATE: 4-11-88 <br />Department Approval Manager Reviewed, Agenda Section: <br />Item Descr i-p t"i" on: Resolution approving the 'issuance and sale of <br />0 <br />Roseville's $3,750,,000 commercial development <br />refunding revenue bonds (Oakcrest Off 'Ice Plaza <br />Pr,oj eict) . <br />EMA Partnierish ip is in the process of purchasing Oakcrest Of f nice <br />Plaza from, the previous owners. 'This bond issue is simply a <br />refunding of the previous industrial development bond to provide a <br />more faviorable, interest rate. This issue does not provide any <br />financial, risk, for the city,, and the one percent fee for a refunding <br />w ill be required. <br />I <br />Th is refund "Ing 'is posit 10vie f or tihe city 'in that it brings a ma] or <br />.Sit,, Paul cloimpany to Roseville and facilitates a complete lease out <br />rf the Oiakc,reisit Office Plaza. <br />REQUESTED COUNCIL ACTION: Motion to approve/deny the above <br />I- - <br />resolution approv ing the issuance and <br />sale of Roseville's $3,750,000 commercial <br />development refunding revenue bonds <br />(Oakcriest, Office Plaza Project)., <br />