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Attachment A 15 RESOLUTION NO. 16 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE, MINNESOTA 17 APPROVING THE ISSUANCE OF COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY REVENUE BONDS IN A MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF $9,000,000 FOR THE PURPOSES OF FINANCING AND REFINANCING THE 5 COSTS OF ACQUISITION, CONSTRUCTION, IMPROVEMENT�, RENOVATION AND 5 1 EQUIPPING OF CERTAIN FACILITIES AND CERTAIN OTHER MATTERS RELATING 52 THERETO 53 541 55 WHEREAS, it has been requested that the Colorado Educational and Cultural Facilities 56 Authority (the "Authority") participate in the issuance of one or more series of revenue bonds in an 57 aggregate principal amount not to exceed $9,000,000 (the "Bonds") to be used to: (a) finance the costs 58 Of, or reimburse the Northwestern College (the "Institution") for the costs of, certain higher education 5 facilities and related costs, including but not limited to (i) acquisition, renovation and equipping of an 60 office building located at 2803 Lincoln Drive, Roseville, Minnesota 55113, (ii) planning and capital 6 1� construction costs of campus roadways and a parking facility on the Institution's main campus located 62 at 3003 Snelling Avenue North, Roseville, Minnesota 55113 (the "Main Campus") and (iii) capital 63 campus landscaping costs on the Main Campus (collectively, the "Project") ; (b) fund capitalized &I interest on the Bonds, if any; (c) fund any required debt service reserve fund; and (d) pay certain costs 65 of issuance of the Bonds, including initial costs of any credit enhancement. The Institution will be the 66 initial owner and operator of the Project; and 67 68 WHEREAS, pursuant to Section 147(f) of the Code, prior to their issuance, the Bonds are 6 ,') required to be approved by the applicable elected representative of the governmental unit having 7(), jurisdiction over the entire area in which any facility financed or refinanced by the Bonds is to be 7 1 located, after a public hearing held following reasonable public notice; and 72 73 WHEREAS, the Institution has represented to the City of Roseville (the "City") that the bl facilities located at 3003 Snelling Avenue North, Roseville, Minnesota and at 2801 Lincoln Drive, 75 Roseville, Minnesota to be financed or refinanced are located within the territorial limits of the City; 76 and 77 78 WHEREAS, the members of the City Council of the City are the applicable elected 7�') representatives of the City; and WHEREAS, Bond Counsel has advised that there has been published, at least 14 days prior to 82 the date hereof, in a newspaper of general circulation within the City, a notice that a public hearing 3 regarding the Bonds would be held on the date hereof; and 5 WHEREAS, such public hearing was conducted on the this date by the City Council of the City, 86 at which time an opportunity was provided to interested parties to present arguments both for and 87 against the issuance of the Bonds; and WHEREAS, the City has been informed that the Bonds will not constitute a debt or liability of the City and the City shall have no payment obligations with respect to the Bonds; and