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Attachment 3 2200 IDS Center, 80 South 8th Street Minneapolis, MN 55402-2210 Tel: 612.977.8400 | Fax: 612.977.8650 taftlaw.com Affirmative Action, Equal Opportunity Employer Mary L. Ippel 723/:88/9233! NJqqfmAubgumbx/dpn! December 19, 2024 VIA E-MAIL Qbusjdl!Usvehfpo!Njdifmmf!Qjfusjdl! Djuz!Nbobhfs!Gjobodf!Ejsfdups! Djuz!pg!Sptfwjmmf!Djuz!pg!Sptfwjmmf! Sptfwjmmf!Djuz!Ibmm!Sptfwjmmf!Djuz!Ibmm! 3771!Djwjd!Dfoufs!Esjwf!3771!Djwjd!Dfoufs!Esjwf! Sptfwjmmf-!NO!66224Sptfwjmmf-!NO!66224 Re: License and Passport Center Dear Pat and Michelle: The City is proposing to undertake the construction of a new License and Passport Center (the “Project”). Under existing law there are a number of financing options for the Project. The statutory authorities for financing the Project are as follows: a)General Obligation Bonds. In 1987 special legislation was adopted that provided that the governing body of the City of Roseville (the “City”) may exercise all of the powers of a port authority provided by Minnesota Statutes, Section 469.048 to 469.068. Pursuant to the port authority powers the City has the legal authority to issue General Obligation Bonds, which bonds may be issued without submission of the question to the electors of the City. Prior to the issuance of the General Obligation Bonds it is necessary for the City to adopt an ordinance identifying the issuance of the General Obligation Bonds. The port authority law also grants the City the powers of a housing and redevelopment authority and the powers of a port authority. In 1991 the City, utilizing the housing and redevelopment authority powers and the port authority powers, established a redevelopment project area and industrial development district (the "Project Area"). The proposed Project is within the Project Area. The redevelopment plan adopted for the Project Area identifies that the provision of City service facilities for residents of the City is an objective of the redevelopment plan and specifically authorized the City to construct public facilities. The General Obligation Bonds are payable from ad valorem taxes levied on all taxable property in the City. The City can annually reduce the tax levy by an amount equal to the revenues derived from the operation of the Project which are deposited in the debt service account established for the payment of the General Obligation Bonds. b)Economic Development Authority Revenue Bonds. Pursuant to Minnesota Statutes Chapter 469, the City’s Economic Development Authority (the "EDA") is authorized to issue revenue bonds to Ubgu!Tufuujojvt!'!Ipmmjtufs!MMQ!/!Ubgumbx/dpn!/!Uif!Npefso!Mbx!Gjsn 170364294v1 Qbhf!2:!pg!6: