|
Attachment A
<br />RESOLUTION NO.
<br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE, MINNESOTA,
<br />APPROVING THE ISSUANCE OF PUBLIC FINANCE AUTHORITY REVENUE BONDS IN A
<br />MAXIMLTM AGGREGATE PRINCIPAL AMOUNT OF $26,000,000 FOR THE PURPOSES OF
<br />FINANCING AND REFINANCING THE COSTS OF ACQUISITION, CONSTRUCTION,
<br />IMPROVEMENT, RENOVATION AND EQUIPPING OF CERTAIN EDUCATIONAL FACILITIES
<br />OF THE UNIVERSITY OF NORTHWESTERN-ST. PAUL AND OTHER MATTERS RELATING
<br />THERETO
<br />WHEREAS, it has been requested that the Public Finance Authority, a unit of government and a
<br />body corporate and politic under the laws of the State of Wisconsin, authorized and empowered pursuant
<br />to the laws of the State of Wisconsin, and particularly Sections 66.0301, 66.0303 and 66.0304 of the
<br />Wisconsin Statutes, as amended (the "Act") to issue revenue bonds and lend the proceeds thereof for the
<br />purpose of financing "projects" as defined in the Act (the "Authoritv"), participate in the issuance of one
<br />or more series of revenue bonds in an aggregate principal amount not to exceed $26,000,000 (the
<br />"Bonds") to be used, in part, to (a) currently refund all of the outstanding (i) City of Roseville, Minnesota
<br />Variable Rate Demand Private School Facility Revenue Bonds (Northwestern College Project) Series
<br />2002 (the "2002 Bonds"), the proceeds of which were used to (A) refund certain taxable indebtedness of
<br />the Borrower incurred in connection the acquisition and refurbishing of student housing facilities located
<br />at 2906, 2924, 2930 and 3003 North Snelling Avenue, Roseville, Minnesota 55113, (B) finance a portion
<br />of the costs of the construction, expansion, renovation and equipping of various facilities of the Borrower,
<br />including the acquisition, construction, equipping and furnishing of the non-broadcasting portions of the
<br />Mel Johnson Media Center located at 2993 North Snelling Avenue, Roseville, Minnesota 55113, together
<br />with miscellaneous educational facilities, including equipment, furnishings, renovations and landscaping
<br />on the main campus of the Borrower located at 3003 North Snelling Avenue, Roseville, Minnesota 55113
<br />and parcels adjacent thereto in Roseville, Minnesota (together with parcels adjacent thereto in Arden
<br />Hills, Minnesota, the "Main Cam�us") (the "2002 Project"), and (C) pay a portion of certain costs
<br />associated with and incidental to the financing and (ii) Colorado Educational and Cultural Facilities
<br />Authority Adjustable Rate Demand Revenue Bonds, Series 2008A (Northwestern College Project) (the
<br />"2008A Bonds" and together with the Series 2002 Bonds, the "Prior Bonds"), the proceeds of which were
<br />used to (A) finance the costs of the acquisition, construction, improvement, renovation, remodeling,
<br />furnishing and equipping of certain higher educational facilities of the Borrower, including but not limited
<br />to acquisition and renovation costs or an office building, planning and capital construction costs of
<br />campus roadways and parking facility and capital campus landscaping costs, all located on the portion of
<br />the Main Campus located in Roseville, Minnesota (the "2008 Project" and together with the 2002 Project,
<br />the "Prior Project") and (B) pay certain costs of issuance of the 2008A Bonds, including initial costs of
<br />credit enhancement; (b) refinance certain outstanding indebtedness of the Borrower, the proceeds of
<br />which were used to finance the acquisition and conversion into student housing, including but not limited
<br />to the equipping and furnishing of the facility, of the Country Inn & Suites located at 2905 Snelling
<br />Avenue North, Roseville, Minnesota 55113; (c) finance and reimburse the Borrower for all or a portion of
<br />the costs of acquiring, constructing, improving and equipping certain educational facilities of the
<br />Borrower, including but not limited to the demolition and destruction of existing athletic and related
<br />facilities, the construction and installation of artificial turf football, soccer, baseball and softball fields, six
<br />regulation size tennis courts, bleacher seating for approximately 1,500 people, locker rooms for
<br />approximately 192 student athletes, and related restroom and concession facilities located on the portion
<br />of the Main Campus located in Roseville, Minnesota (collectively, the "2014 Project" and together with
<br />the Prior Project, the "Project"); (d) fund capitalized interest on a portion of the Bonds; (e) fund a debt
<br />service reserve fund for the Bonds, if any; and ( fl pay certain costs of issuance of the Bonds and of
<br />refunding the Prior Bonds. The Project and all facilities financed or refinanced with the proceeds of the
<br />Bonds are or are to be owned and operated by the Borrower.
<br />U3583941.4
<br />
|