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res_11577 (2)
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2/13/2019 11:50:52 AM
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2/13/2019 11:50:52 AM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
2/11/2019
Meeting Type
Regular
Resolution #
11577
Resolution Date Passed
2/11/2019
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Joint Exercise of Powers Agreement Relating to the Public Finance Authority, dated September 28, 2010 (the <br /> "Joint Exercise Agreement"), and Section 66.0304(11)(a)of the Act. <br /> 1.05. Section 147(f) of the Code and regulations promulgated thereunder require that prior to the <br /> issuance of the Bonds, the City Council of the City(the "City Council") consent to the issuance of the Bonds by <br /> the Authority after conducting a public hearing thereon preceded by publication of a notice of public hearing (in <br /> the form required by Section 147(f) of the Code and applicable regulations) in a newspaper of general circulation <br /> within the City at least fourteen(14)days prior to the public hearing date. <br /> 1.06. A notice of public hearing(the "Public Notice")was published at least fourteen(14) days before <br /> the regularly scheduled meeting of the City Council on the date hereof in the Roseville Review, the official <br /> newspaper of and a newspaper of general circulation in the City, with respect to the required public hearing under <br /> Section 147(f)of the Code. <br /> 1.07. On the date hereof,the City Council conducted a public hearing at which a reasonable opportunity <br /> was provided for interested individuals to express their views, both orally and in writing, on providing consent to <br /> the issuance of the Bonds by the Authority pursuant to the requirements of Section 147(f) of the Code and the <br /> regulations promulgated thereunder. <br /> Section 2. Approvals. <br /> 2.01. The City Council finds that it is in the best interest of the City to approve the issuance of the Bonds <br /> by the Authority to finance and refinance the Project and hereby consents to the issuance of the Bonds by the <br /> Authority for the purposes set forth above in an approximate aggregate principal amount not to exceed <br /> $25,500,000. It is the purpose and intent of the City Council that this resolution constitute approval by the City of <br /> the issuance of the Bonds,as the governmental unit having jurisdiction over the area in which the Project is located, <br /> in accordance with Section 66.0304(11)(a) of the Act, Section 4 of the Joint Exercise Agreement, and Section <br /> 147(f)of the Code. <br /> 2.02. The Mayor and City Manager and other officers, employees, and agents of the City are hereby <br /> authorized and directed to prepare and furnish to the Issuer, Kennedy& Graven, Chartered, as bond counsel with <br /> respect to the Bonds, and the original purchasers of the Bonds certified copies of all proceedings and records of <br /> the City relating to the approval of the issuance of the Bonds, including a certification of this resolution. <br /> 2.03. The Mayor and the City Manager are hereby authorized and directed to execute and deliver any <br /> documents deemed necessary to fulfill the intentions of this resolution. <br /> 2.04. The Borrower will, upon demand, reimburse the City for costs paid or incurred by the City in <br /> connection with this resolution. <br /> 2.05. This resolution shall be in full force and effect from and after its passage. <br /> Approved by the City Council of the City of Roseville,Minnesota this 11`h day of February, 2019. <br /> The motion for the adoption of the foregoing resolution was duly seconded by <br /> Councilmember Laliberte and upon vote being taken thereon, the following voted in <br /> favor thereof: Laliberte, Willmus, Groff and Roe and the following voted against the same: none. <br /> Approved by the City Council of the City of Roseville, Minnesota this 11th day of February, 2019. <br /> WHEREUPON said resolution was declared duly passed and adopted. <br /> Page 2 of 3 <br />
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