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CITY OF IL S vILL , MINNESOTA 30 RESOLUTION NO. 31 32 A RESOLUTION CALLING FOR A PUBLIC HEARING 33 ON A PROPOSAL FOR A PRIVATE SCHOOL FAC'ILIT'Y PROJECT 34 PURSUANT TO MINNESOTA TA LAS', AND AUTHORIZINi 35 TILL PUBLICATION OF A NOTICE OF TILL HEARINi 3 37 WHEREAS,, Minnesota Statutes, Sections 469.152 through 469.1 51 the "Act" I, gives 38 municipalities the power to issue revenue bonds for the purpose of the encouragement ent are 39 development of economically sound industry and commerce to prevent so far as possible the 4O emergence ence o blighted and marginal lards and areas of chronic unemployment; and 41 WHEREAS, the City Council of the City of Roseville, Minnesota the "City"),, has received a 4 proposal from Concordia Academy Association of Schools, a 501(c)1(3), Minnesota nonprofit 43 corporation doing business as Concordia Academy the "B orrowcr" , that the City assist in 44 providing long - term financing for debt of the Borrower relating to the non - religious portion of 45 (a), improvements at the Borrower's facility at 2400 North Dale Street it the City, (b), the 4 Borrower's facility at 8201 Part Avenue South. in Bloomington, Minnesota, and (c), additional 47 improvements at the Bloomington facility, through the issuance of its private school facility 48 revenue bonds which may be it the form of a single debt instrument), the "Bonds"), pursuant to 4 the Act; and 50 WHEREAS, before proceeding with consideration of the request of the Borrower it is 51 necessary for the City to hold a public bearing on the proposal pursuant to Section 469.154, 52 Subdivision 4, of the Act; and 53 WHEREAS, a public bearing had previously been scheduled for March 3, 2008, and such 54 hearing is hereby cancelled in favor of a new hearing on March 17, 008 and 55 WHEREAS, Briggs and Morgan, Professional Association, acting as bond counsel ("Briggs") 56 has prepared a notice of public hearing describing the general nature of the proposal and an 57 estimate of the principal amount of Bonds to be issued to finance the proposal in the form. 58 attached hereto as Exhibit . 5 0 NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, 1 Minnesota, as follows. 1. A public hearing on the proposal of the Borrower will be held at the time and 3 place set forth in the notice of public hearing hereto attached. 4 2. A draft copy of the proposed application to the Commissioner of the Department 5 of Employment and Economic Development, State of Minnesota, for approval of the project, together with proposed forms of all attachments and exhibits thereto, 7 shall be placed on file in the office of the City Manager upon publication of the 8 notice of public hearing. 21320 5vl