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RESOLUTION NO. 11153
<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 /> MAXIMUM 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 "Authority"), 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 Campus") (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 (0 pay certain costs of issuance of the Bonds and of
<br /> refunding the Prior Bonds. The Project and all facilities financed or refmanced with the proceeds of the
<br /> Bonds are or are to be owned and operated by the Borrower.
<br /> 1/3583941.4
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