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RESOLUTION NO. 2004-10224 RESOLUTION CONSENTING TO THE ISSUANCE OF REVENUE BONDS BY THE COLORADO HEALTH FACILITIES AUTHORITY ON BEHALF OF THE EVANGELICAL LUTHERAN GOOD SAMARITAN SOCIETY BE IT RESOLVED by the City Council of the City of Roseville, Minnesota (the "City"), as follows: SECTION 1 Recitals 1.1 The Evangelical Lutheran Good Samaritan Society (the "Society") and the Good Samaritan Heritage Communities, LLC has advised this Council of its desire to (i) finance the acquisition, construction, improvement and equipping of 50 independent living units, (ii) fund a reserve fund and (iii) pay certain costs of issuing the bonds at Heritage Place of Roseville, located at 563 County Road B West in the City (the "Proj ect"). 1.2 The Society has represented to the City that the Project will assist the Society in improving its facilities in the City, for the benefit of the residents of the City and surrounding area; that the issuance of tax-exempt revenue bonds is essential to the successful completion of the Project; and that the Colorado Health Facilities Authority has evidenced a willingness to issue tax-exempt revenue bonds and loan the proceeds thereof to the Society to finance the proposed Project. 1.3 In order to facilitate the financing of the Project by the Society, the City would like the Colorado Health Facilities Authority to issue its Health Facilities Revenue Bonds (The Evangelical Lutheran Good Samaritan Society Project) to finance the Project, among other things. 1.4 A notice of public hearing was published on May 15, 2004 in the Roseville Review, and pursuant to such notice a public hearing has been held before the City Council on the proposal of the Society to finance the Project through the issuance of revenue bonds by the Colorado Health Facilities Authority, at which hearing all those who desired to speak were heard, and in connection with which written comments were taken in advance. 2474304vl