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RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL <br />FOR THE ISSUANCE OF MULTIFAMILY HOUSING REVENUE OBLIGATIONS <br />TO FINANCE A MULTIFAMILY HOUSING FACILITY ON BEHALF OF <br />SNELLING APARTMENTS LIMITED PARTNERSHIP <br />WHEREAS, Snelling Apartments Limited Partnership, a Minnesota limited partnership, <br />(the "Borrower"), has proposed that the City of Falcon Heights, Minnesota assist in financing a <br />Project which includes the acquisition, renovation and equipping by the Borrower of an <br />approximately 196-unit multifamily rental housing facility located at 2820 Snelling Avenue in <br />the City of Roseville, Minnesota (the "City"); and <br />WHEREAS, the City has been advised that a public hearing and Council approval of <br />financing the Project with the obligations to be issued by the City of Falcon Heights, Minnesota <br />are required under Section 147(f) of the Internal Revenue Code because the Project is located in <br />the City; <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville, <br />Minnesota, as follows: <br />1. A public hearing on the proposal of the Borrower will be held at the time and <br />place set forth in the Notice of Public Hearing attached hereto. The general nature of the Project <br />and an estimate of the aggregate principal amount of revenue bonds or other obligations to be <br />issued to finance the proposal are described in the Notice of Public Hearing. <br />2. The City Manager is hereby authorized and directed to cause notice of the hearing <br />to be given one publication in the official newspaper of the City and also in a newspaper of <br />general circulation available in the City, not less than 15 days prior to the date fixed for the <br />hearing, substantially in the form of the attached Notice of Public Hearing. <br />2132560v1 2 <br />