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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE, MINNESOTA HELD: July 28, 1997 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, Ramsey County, Minnesota, was duly called and held at the City Hall in said City on Monday the 28th day of July, 1997, at 6:~o o'clock P.M., for the purpose in part of authorizing a $567,660 Taxable Tax Increment Revenue Note of 1997 (Fairview H.A. Associates, L.L.C., Project) of the City. The following members were present: Maste ¡, Wi sk i, Wa ¡ ¡, Maschka and the following were absent: Goedeke Member Mas te ¡ resolution and moved its adoption: introduced the following RESOLUTION NO. g4'B RESOLUTION AUTHORIZING A $567,660 TAXABLE TAX INCREMENT REVENUE NOTE OF 1997 (FAIRVIEW H.A. ASSOCIATES, L.L.C., PROJECT) AND PROVIDING FOR ITS ISSUANCE A. WHEREAS, Fairview B.A. Associates, L.L.C. (the "Developer"), and the City of Roseville, Minnesota (the "City"), will enter into a Development Agreement (the "Development Agreement") relating to the a project in Tax Increment Financing District No. 15 (the "Project") ¡and B. WHEREAS, it is necessary and expedient to issue the City's $567,660 Taxable Tax Increment Revenue Note of 1997 (Fairview H.A. Associates, L.L.C., Project) (the "Note") pursuant to Minnesota Statutes, Chapters 469 and 475, to evidence the indebtedness of the Development Agreement in order to finance certain public redevelopment costs within the City's Municipal Development District No. I, Industrial Development District NO.1 and Redevelopment project Area (collectively, the "Development District"), consisting generally of improvements in the City's Tax Increment Financing District No. 15, as set forth in the tax increment financing plan adopted and amended for Tax Increment 357542.2 1