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4,4 CITY OF ROSEVILLE, MINNESOTA 45 RESOLUTION NO. 46 1 47 A RE SOLUTION CALLING FOiR A PUBLIC HEARING 48 ON A PROPOSAL FOR A PRIVATE SCH0101L FACILITY PROJECT 491 PURSUANT TO MINNESOTA LAW, AND, AUTHORIZING 5 1 'THE PUBLICATION OF A NOTICE OF THE HEARING '0 51 5 1 2 WHEREASI, Minn.esota Statutes Sections 469-152 through 469.1651 (the "Act"), gives 53 muni cipalities the power to issue revenue bonds for the purpose of the encouragement and 54 development of economically sound industry aid commerce to prevent so far as possible the 5 5 emergence of blighted and near ignal lands and areas of' chronic unemployment, and 56 WHEREAS, the City Council of the City of Roseville, Minnesota (the "City"), has received a 57 proposal from Concordia Academy Association of Schools, a 501 (c)(3) Minnesota nonprofit 58 corporation doing business as Concordia Acadeniy I the "Borrower"), that the City assist in 59 providing long-term financing for debt of the Borrower relating to the non-religious portion of 60 (a) improven-rents at the Borrower's facility at 2400 North Dale St-Irect in the City, (b) the 61 Borrower's facility at 8201 Park Avenue South in Bloomincyton, Minnesota and (c) additional 162 iniprovements at the Bloomi'ligton facility, through the Issualice-, -of its private scbool facility 613 revenue bonds (which may be in the form of a single debt instrument) (the "Bonds") pursuant to 64 the Act; and 65 WHEREAS, before proceeding with consideration of tine request of the Borrower it is 66 necessary for the City to hold a public hearing on the proposal pursuant to Section 469-154, 67 Subdivision 4,, of the Act; and 69 WHEREAS,, Briggs and Morgan, Professional Association, 1 acting as bond counsel (' "Briggs "') 619 has prepared a notice of' public hearing describing the general nature of the proposal and an t:0 70 estirnate of the principal w-nount of Bonds to be issued to finance the proposal in the form 71 attached hereto, as Exhibit A; 7'2 713 NOW, THEREFORE, BE IT RESOLVED, by.. the City, Council of the City of Roseville, 74 Minnesota, as follows-, 75 1 A public hearing on the proposal of the Borrower will be held at the time and 7'6 place set, forth in the notice of public hearing, hereto attached. 7'71 2. A draft copy of the proposed application to the Commissioner of the Departnient 78,1 of Employinent and Economic Development, State of Minnesota, for approval of 7'9 the project, together with proposed forms, of all attachments and exhibits thereto, 80 shall be placed on file in the office of the City Manager upon publication of the 81 notice, of public hearing. 82 3. The City Manager is hereby authorized and directed to cause the notice of the 83 public hearing to be published once in the official newspaper of the City, a 2132085v I