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RESOLUTION CALLING FOR A PUBLIC HEARING ON THE ISSUANCE OF <br /> EDUCATIONAL FACILITIES REVENUE NOTES AND <br /> AUTHORIZING THE PUBLICATION OF A NOTICE OF THE HEARING <br /> (CHARTER SCHOOLS DEVELOPMENT CORPORATION/HIAWATHA ACADEMIES PROJECT) <br /> (a) WHEREAS, Minnesota Statutes, Sections 469.152 through 469.1655, <br /> relating to municipal industrial development (the "Act"), gives municipalities the power to issue <br /> revenue obligations for the purpose of promoting the welfare of the state by the active attraction <br /> and encouragement and development of economically sound industry and commerce to prevent <br /> so far as possible the emergence of blighted and marginal lands and areas of chronic <br /> unemployment; and <br /> (b) WHEREAS, Roseville, Minnesota (the "City"), has received from Charter <br /> Schools Development Corporation, a District of Columbia nonprofit corporation and 501(c)(3) <br /> organization (the "Borrower"), a proposal that it undertake a program to finance the Project <br /> hereinafter described, through the issuance of revenue notes, in one or more series, or obligations <br /> (the"Notes")pursuant to the Act; and <br /> (c) WHEREAS, before proceeding with consideration of the request of the <br /> Borrower it is necessary for the City to hold a public hearing on the proposal pursuant to Section <br /> 147(f) of the Internal Revenue Code and Section 469.154, Subdivision 4, of the Act. <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville, <br /> Minnesota, as follows: <br /> 1. A public hearing on the proposal of the Borrower will be held at the time <br /> and place set forth in the form of Notice of Public Hearing attached hereto as Exhibit A. The <br /> general nature of the Project and an estimate of the aggregate principal amount of revenue notes <br /> or other obligations to be issued to finance the proposal are described in the Notice of Public <br /> Hearing. <br /> 2. The Manager is hereby authorized and directed to cause notice of the <br /> hearing to be given one publication in the official newspaper of the City and also in a newspaper <br /> of general circulation available in the City, not less than 14 days nor more than 30 days prior to <br /> the date fixed for the hearing, substantially in the form of the attached Notice of Public Hearing. <br /> 2 <br /> 6640120v1 <br />