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CITY OF ROSEVILLE, MINNESOTA RESOLUTION NO. 10599 A RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL FOR A PRIVATE SCHOOL FACILITY PROJECT PURSUANT TO MINNESOTA LAW, AND AUTHORIZING THE PUBLICATION OF A NOTICE OF THE HEARING WHEREAS, Minnesota Statutes, Sections 469.152 through 469.1651 (the "Act"), gives municipalities the power to issue revenue bonds for the purpose of the encouragement and development of economically sound industry and commerce to prevent so far as possible the emergence of blighted and marginal lands and areas of chronic unemployment; and WHEREAS, the City Council of the City of Roseville, Mimiesota (the "City"), has received a proposal from Concordia Academy Association of Schools, a 501(c)(3) Minnesota nonprofit corporation doing business as Concordia Academy (the "Borrower"), that the City assist in providing Iong-teen financing for debt of the Borrower relating to the non-religious portion of (a) improvements at the Borrower's facility at 2400 North Dale Street in the City, (b) the Borrower's facility at 8201 Park Avenue South iu Bloomington, Minnesota, and (c) additional improvements at the Bloomington facility, through the issuance of its private school facility revenue bonds (which maybe in the form of a single debt instrument) (the "Bonds") pursuant to the Act; and WHEREAS, before proceeding with consideration of the request of the Borrower it is necessary for the City to hold a public hearing on the proposal pursuant to Section 469.154, Subdivision 4, of the Act; and WHEREAS, a public hearing had previously been scheduled for March 3, 2008, and such hearing is hereby cancelled in favor of a new hearing on March 17, 2008; and WHEREAS, Briggs and Morgan, Professional Association, acting as bond counsel ("Briggs") has prepared a notice of public hearing describing the general nature of the proposal and an estimate of the principal amount of Bonds to be issued to finance the proposal in the form attached hereto as Exhibit A; NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Roseville, Minnesota, as follows: A public hearing on the proposal of the Borrower will be held at the time and place set forth in the notice of public hearing hereto attached. 2. A draft copy of the proposed application to the Commissioner of the Department of Employment and Economic Development, State of Minnesota, for approval of the project, together with proposed forms of all attachments and exhibits thereto, shall be placed on file in the office of the City Manager upon publication of the notice of public hearing. 2132085v1