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816 $3,1000,000 of the proceeds, of the Bonds is expected to be spent on the St, Loul's Project. No 87 more than $81,500.,000 of the proceeds of the Bonds is expected to be spent on the Richmond �88 Project. No more than $4,500,000 of the proceeds of the Bonds is'expected to be spent on the 89 Riosevillie Project. No more than $750,000 of the proceeds of the Bonds 'is expected to be spent 90 on the Bloomington Project. No more than $6,500,000 of the proceeds of the Bon ds is expected 91 to be spent on the Lan"sing Project. The 'initial owner, operator or manager of the Richmond 92 Projectis Lutheran Education Association of Houston. Then a1 ovate r, operator or manager of 93 the Batavia Project is Immanuel Evangelical Lutheran Church- B atavia, Illinois. The initial 94 ownier, operator or manager of the St. Louis Project 11's Lutheran High School Association of St. operator or manager of the Mhuiesota Prqj*ect 'I's Concordia Academy 95 Louis. The i n fti a l owner 96 Association of Schools. The initial owner, operator or manager of the Lansing Project is Ou-r 97 Savior Lutheran Church of Lansing, Mich. The initial owner, operator or manager of the 98 Edwardsville Project is Metro East Lutheran High School Association, Inc. The proceeds of the 99 Bonds Will be loaned to LCEF Educational Support, LL1C, a Colorado limited liability company, 100 the sole member of which i's the Lutheran Church Extension Fund — Missouri Synod, a Missouri 101 non-profit corporation* an 102 103 WHEREAS, pursuant to Section 147(f) of the Code, prior to their issuance, the Bonds are 104 required to be approved by the "applicable elected representative" of the governmental unit 105 having jurisdiction over the entire area in which any facility financed or refinanced by the Bonds 106 'is to be located, after a public hearing held following reasoname public notice, and 107 108 WHEREAS, Concordia Academy Association of Schools has represented to the City that 1 the facilities located at 2400 North Dale St., Roseviffle, Minnesota to be financed or refinanced 110 are located wi"thin the territorial limits of the City; and 111 112 WIJEREAS, the members of the City Council of the City .of Roseville, Mimiesota (the 113 Ci III 0 ty fit ) are the applicable elected represen6tives, of the City; and 114 115 WHEREAS, Bond Counsel has advised that there has been published, at least 14 days 116 prior to the date hereof, 'in a newspaper ot % general circulation within the City, a notice that a 117 public hearing regarding the Bonds would be held on the date hereof; and 118 119 WHEREAS, Such Public hearing was conducted on the this date by the City Council of 120 the City, at which time an opportunity was provided to 'Interested parties to present argwnents 121 both for and against the issuance of the Bonds, mid 122 10 123 WHEREAS, it 'is 'intended that this resolution shall constitute the approval of the issuance 124 of the Bonds 'and the faciffifties, required by Section 147(f) of the Code-, 125 126 NOW THEREFORE, BE IT RESOLVED AND ORDERED by the City Council of the 127 City as follows: 128 129 1 The City Council conducted a public hearing regarding the Bonds on the date 130 hereof at which time an opportunity was provided an opportunity to speak regarding the i'ssum*ice 131 of the Bonds.