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The City Council of the City of Roseville, Minnesota met in regular, open, public session at the City Hall on September 14, 1998, at 6:30 p.m., with the following members present: Maschka. Wiski. Goedeke. Mastel and Wall and the following members absent: None * * * (Other Business) The following resolution was introduced: RESOLUTION NO. 9583 A RESOLUTION AUTHORIZING THE SALE AND ISSUANCE OF MUL TIF AMIL Y HOUSING REVENUE REFUNDING BONDS (ROSEPOINTE I PROJECT) OF THE CITY FOR THE PURPOSE OF REFUNDING CERTAIN OUTSTANDING REVENUE BONDS OF THE CITY, AND AUTHORIZING THE EXECUTION OF NECESSARY DOCUMENTS BE IT RESOLVED by the City Council of the City ofRoseville, Minnesota, as follows: Section 1. Authorization and Recitals. 1.01. General Authority. Pursuant to the provisions of Minnesota Statutes, Chapters 462A and 462C, as amended, the City has previously issued its Rental Housing Revenue Bonds (RosePointe I Project), Series 1985-A (the "Prior Bonds"), to finance the acquisition, renovation and construction of an approximately 148 unit multifamily elderly rental housing project located at 2555 Hamline Avenue North in the City (the "Project") by RosePointe Housing Limited Partnership, a Minnesota limited partnership (the "Original Borrower"). The Prior Bonds are currently outstanding in the aggregate principal amount of$13,785,000. Representatives of RosePointe Senior Housing LLC, a Minnesota limited liability company and the successor in interest to, and an affiliate of, the Original Borrower (the "Borrower"), has requested that the City authorize the issuance of (i) its Multifamily Housing Revenue Refunding Bonds (GMNA Collateralized Mortgage Loan-RosePointe I Project), Series 1998A (the "Series 1998A Bonds"), (ii) its Taxable Multifamily Housing Revenue Refunding Bonds (GNMA Collateralized Mortgage Loan-RosePointe I Project), Series 1998B (the "Series 1998B Bonds") and (iii) its Subordinate Multifamily Housing Revenue Refunding