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EXTRACT OF MINUTES OF MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE * * * * * * * * * * * * * * * * * Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, County of Ramsey, Minnesota was duly held on the 4th day of November 2019, at 6:00 p.m. The following members were present: Willmus, Etten, Laliberte, Groff, and Mayor Roe. and the following were absent: None. Member Etten introduced the following resolution and moved its adoption: RESOLUTION No. 11647 AUTHORIZING THE ISSUANCE, SALE, AND DELIVERY OF A MULTIFAMILY HOUSING REVENUE NOTE RELATING TO THE TWIN LAKES FAMILY APARTMENTS PROJECT PURSUANT TO MINNESOTA STATUTES, CHAPTER 462C; APPROVING THE FORMS OF AND AUTHORIZING THE EXECUTION AND DELIVERY OF THE NOTE AND RELATED DOCUMENTS; PROVIDING FOR THE SECURITY, RIGHTS, AND REMEDIES WITH RESPECT TO THE NOTE; AND GRANTING APPROVAL FOR CERTAIN OTHER ACTIONS WITH RESPECT THERETO WHEREAS,the City of Roseville,Minnesota(the"City"), is a municipal corporation duly organized and existing under the Constitution and laws of the State of Minnesota; and WHEREAS, pursuant to Minnesota Statutes, Chapter 462C, as amended (the "Act"), the City is authorized to carry out the public purposes described in the Act by issuing revenue bonds or other obligations to finance or refinance multifamily housing developments located within the City and, as a condition to the issuance of such revenue bonds, adopt a housing program providing the information required by Section 462C.03, subdivision la, of the Act; and WHEREAS, in the issuance of the City's revenue bonds and in the making of a loan to finance a multifamily housing development,the City may exercise,within its corporate limits, any of the powers that the Minnesota Housing Finance Agency may exercise under Minnesota Statutes, Chapter 462A,as amended,without limitation under the provisions of Minnesota Statutes,Chapter 475, as amended; and WHEREAS, Roseville Leased Housing Associates I, LLLP, a Minnesota limited liability limited partnership (the "Borrower"), has requested that the City issue its Multifamily Housing Revenue Note(Twin Lakes Family Apartments Project) Series 2019 (the"Note"), in one or more series, issued in an aggregate amount not to exceed $4,346,852 to finance, in part, the acquisition, construction,and equipping of an approximately 228-unit multifamily rental housing development and functionally related facilities to be located at 1717 and 1743 County Road C West in the City (the"Project"); and 12119970v3