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<br />EXTRACT OF MINUTES OF MEETING <br />OF THE <br />CITY COUNCIL OF THE CITY OF ROSEVILLE <br /> <br />* * * * * * * * * * * * * * * * * <br /> <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City <br />ofRoseville, County of Ramsey, Minnesota was duly held on the 14th day of February, <br />2000 at 6:30 p.m. <br /> <br />The following members were present: Goedeke, Mastel, Wiski, Maschka & Kysylyczyn <br />and the following were absent: none. <br /> <br />Member Mastel introduced the following resolution and moved its adoption: <br /> <br />RESOLUTION 9744 <br />Appro.ving and autho.rizing the issuance o.f revenue no.tes by the City o.f Brainerd <br />under Minneso.ta Statutes, Sectio.ns 469.152 thro.ugh 469.165, as amended, to. finance <br />pro.perty fo.r the benefit of Lutheran So.cial Service o.f Minneso.ta <br /> <br />WHEREAS, under Minnesota municipal Industrial Development Act, Minnesota <br />Statutes, Sections 469.152-469.165, as amended (the "Act"), each <br />municipality and redevelopment agency of the State of Minnesota (as <br />defined in the Act), including the City of Brainerd, Minnesota (the "City <br />of Brainerd"), is authorized to issue revenue obligations to finance capital <br />equipment and improvements to land and buildings for the benefit of a <br />revenue producing enterprise to be owned by a contracting party (as <br />defined in the Act; and <br /> <br />WHEREAS, under Section 469.155, subdivision 9, of the Act, the City of Brainerd is <br />authorized to enter into and perform contracts and agreements with other <br />municipalities as the governing bodies of the city and as the other <br />municipalities may deem proper and feasible for or concerning the <br />financing of a project under the Act, including an agreement whereby one <br />municipality issues its revenue obligations in behalf of one or more other <br />municipalities; and <br /> <br />WHEREAS, the City of Brainerd, has proposed to issue one or more revenue notes (the <br />"Notes") and loan the proceeds derived from the sale of the Notes to <br />Lutheran Social Service of Minnesota, a nonprofit organization (the <br />"Borrower", to finance the acquisition of computer equipment and motor <br />vehicles, and the acquisition and construction of improvements to existing <br />buildings (the "Project"), to be located at the existing facilities of the <br />Borrower in numerous municipalities in the State of Minnesota; and <br />