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72 RESOLUTION NO. <br />"7 3 RESOLUTION CALLING FOR A PUBLIC HEARING ON <br />74 THE ISSUANCE OF ADJUSTABLE RATE DEMAND REVENUE BONDS AND <br />"7 AUTHORIZING THE PUBLICATION OF A NOTICE OF THE HEARING <br />"7 6 (NORTHWESTERN COLLEGE PROJECT) <br />"7 "7 <br />E <br />"7 9 (a), WHEREAS,, Article 15, Title 23 of Colorado Revised Statutes and the Supplemental <br />Public Securities Act,, Part 2 Article 57 Title I I of the Colorado Revised Statutes (the " "Acct " "', gives the <br />Colorado Educational and Cultural Facilities Authority ("CECFA"), the power to issue revenue obligations <br />82 for the purpose of financing projects which are permitted pursuant to the Act; and <br />(b), WHEREAS,, CECFA has received from Northwestern College (the "Institution"),, a <br />,4 proposal that CECFA undertake a program to assist in financing, among other things, a loan to the <br />, 5 Institution to finance the project described in Exhibit A (the "Project"), a portion of which is located in the <br />86 City of Roseville, Minnesota (the "City"),, through the issuance of revenue bonds in one or more series), <br />(the "Bonds"), pursuant to the Act; and <br />(c), WHEREAS,, the City has been advised that a public hearing and City Council approval <br />89 of the financing of the Project is required under Section 147(f), of the Internal Revenue Code because a <br />9,,:-) portion of facilities to be financed by the Bonds are located in the City.- <br />9111 NOW,, THEREFORE,, BE IT RESOLVED by the City Council of the City of Roseville, <br />92 Minnesota,, as follows.- <br />93 1 A public hearing on the proposal of the Institution will be held at the time and place <br />%1.11 <br />94 set forth in the Notice of Public Hearing attached hereto as Exhibit A. <br />95 2. The City Manager is hereby authorized and directed to cause notice of the hearing to <br />96 be given one publication in the official newspaper of the City and a newspaper of general circulation <br />97 available in the City, not less than 14 days nor more than 30 days prior to the date fixed for the hearing, <br />9, substantially in the form of the attached Notice of Public Hearing. <br />99 Adopted by the City Council of the City of Roseville, Minnesota, this 30th day of June, 2008. <br />103 ATTEST.- <br />1 City Manager <br />Mayor <br />Page 4 of 6 <br />