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RESOLUTION NO. 10577 RESOLUTION CALLING FOR A PUBLIC HEARING ON THE ISSUANCE OF VARIABLE RATE DEMAND REVENUE BONDS AND - AUTHORIZING THE PUBLICATION OF A NOTICE OF THE HEARING (LUTHERAN CHURCH EXTENSION FUND -MISSOURI SYNOD LOAN PROGRAM) (a) WHEREAS, Article 15, Title 23 of Colorado Revised Statutes and the Supplemental Public Securities Act, Part 2, Article 57, Title 11 of the Colorado Revised Statutes (the "Act"), gives the Colorado Educational and Cultural Facilities Authority ("CECFA") the power to issue revenue obligations for the purpose of financings projects which are permitted pursuant to the Act; and (b) WHEREAS, CECFA has received from LCEF Educational Support, LLC (the "Institution"), a proposal that CECFA undertake a program to assist in financing, among other things, loans to the organizations described in Exhibit A to finance the projects described in Exhibit A (the "Projects"), one of which is located in the City of Roseville, Minnesota (the "City"), through the issuance of revenue bonds (in one or more series) (the "Bonds") pursuant to the Act; and (c) WHEREAS, the City has been advised that a public hearing and City Council approval of the financing of the Projects is required under Section 147(f) of the Internal Revenue Code because a portion of facilities to be financed by the Bonds are located in the City: NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville, Minnesota, as follows: 1. A public hearing on the proposal of the Institution will be held at the time and place set forth in the Notice of Public Hearing attached hereto as Exhibit A. 2. The City Administrator-Clerk is hereby authorized and directed to cause notice of the hearing to be given one publication in the official newspaper of the City and a newspaper of general circulation available in the City, not less than 14 days nor more than 30 days prior to the date fixed for the hearing, substantially in the form of the attached Notice of Public Hearing. 2007. Adopted by the City Council of the City of Roseville, Minnesota, this 17th day of December, `~ Cr ' D. Klausing, Mayo ATTEST: ~ Willi J. Malinen, City Manager 98362 2