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EXTRACT OF MINUTES OF A MEETING OF THE <br /> CITY COUNCIL OF THE <br /> CITY OF ROSEVILLE, MINNESOTA <br /> * * * * * * * * * * * * * * * * <br /> Pursuant to due call and notice thereof, a regular meeting of the City Council of the City <br /> of Roseville, Minnesota, was duly held at the City Hall in said City on Monday, November 26, <br /> 2018, commencing at 6:00 o'clock P.M. <br /> The following Council members were present: Willmus, Laliberte, Etten, McGehee and <br /> Roe and the following were absent: none. <br /> Council member McGehee introduced the following resolution and moved its adoption: <br /> RESOLUTION No. 11554 <br /> A RESOLUTION GIVING HOST APPROVAL TO THE ISSUANCE <br /> OF A HEALTH CARE FACILITIES REVENUE NOTE <br /> (LANGTON PLACE PROJECT), SERIES 2018 <br /> (a) WHEREAS, Minnesota Statutes, Sections 469.152 through 469.165, as amended, <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 so <br /> far as possible the emergence of blighted and marginal lands and areas of chronic unemployment; <br /> and <br /> (b) WHEREAS, the City of Roseville, Minnesota ("Roseville"), has heretofore <br /> received from Presbyterian Homes Care Centers, Inc., a Minnesota nonprofit corporation and <br /> 501(c)(3)organization(the"Borrower"), a proposal that the City of Little Canada, Minnesota(the <br /> "Issuer") assist in financing the acquisition, construction, and equipping of an approximately <br /> 50,624 square foot, fifty-bed skilled nursing facility and the demolition of the existing skilled <br /> nursing facility known as Langton Place, located at 1910 County Road D in Roseville (the <br /> "Project"),to be owned and operated by the Borrower,and certain other costs related to the Project, <br /> through the issuance of a health care facilities revenue note (the "Note")pursuant to the Act, in an <br /> amount not to exceed $13,000,000; and <br /> (c) WHEREAS, as required by the Act and Section 147(f) of the Internal Revenue <br /> Code of 1986, as amended (the "Code"), a Notice of Public Hearing was published in Roseville's <br /> official newspaper and newspaper of general circulation, for a public hearing on the proposed <br /> issuance of the Note by the Issuer and the proposal to undertake and finance the Project; and <br /> (d) WHEREAS, as required by the Act and Section 147(f) of the Code, the City <br /> Council of Roseville has on this same date held a public hearing on the issuance of the Note by <br /> the Issuer and the proposal to undertake and finance the Project located within the jurisdictional <br /> limits of Roseville, at which all those appearing who desired to speak were heard and written <br /> comments were accepted; and <br /> 1 <br /> 11191950v1 <br />