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Regular City Council Meeting <br />Monday, February 11, 2008 <br />Page 7 <br />prepare the necessary documents for execution, subject to City Attorney approval <br />as to legal form. <br />Roll Call <br />Ayes: Kough; Pust; Ihlan; Roe; and Klausing. <br />Nays: None. <br />8. Consider Items Removed from Consent <br />a. Set a Public Hearing to Issue Tax-Exempt Revenue Bonds on Behalf of Con- <br />cordia Academy <br />Finance Director Miller provided a brief overview of the request of Concordia <br />Academy, 2400 N Dale Street in Roseville, for the City's assistance in issuance of <br />tax-exempt revenue bonds to finance improvements at both their Roseville and <br />Bloomington facilities. Mr. Miller noted that this was conduit debt, and did not <br />constitute a legal or moral obligation on the part of the City; and under Federal <br />and State Statute, municipalities were authorized to pledge their bond issuance au- <br />thority to non-profit groups for the benefit of educational facilities. <br />Councilmember Ihlan expressed concern, and requested additional information <br />and legal counsel, on the appropriateness of such an action; and policy considera- <br />tions of whether the City was within their constitutional rights, based on the sepa- <br />ration of church and state, to issue bonds for Concordia Academy, areligious- <br />based institution with a specific mission, with the institution receiving a direct fi- <br />nancial benefit through the pledging of the City's name and credit rating to make <br />bonds tax-exempt and easier to sell. <br />Klausing moved, Pust seconded, adoption of Resolution No. 10594 entitled, <br />""Resolution Calling for a Public Hearing on a Proposal for a Private School Fa- <br />cility Project Pursuant to Minnesota Law, and Authorizing the Publication of a <br />Notice of the Hearing;" scheduling a Public Hearing for March 3, 2008, for the <br />purposes of issuing approximately $7 million in tax-exempt revenue bonds for <br />Concordia Academy. <br />Roll Call <br />Ayes: Kough; Pust; Ihlan; Roe; and Klausing. <br />Nays: None. <br />Mayor Klausing noted that this question had been raised in the past, and sug- <br />gested that staff may already have a formal legal opinion on staff, without the <br />need to obtain an additional legal opinion. <br />9. General Ordinances <br />a. Consider Publication of Ordinance Summaries <br />City Manager Malinen, in the staff report dated February 11, 2008, compared <br />costs for publication of two ordinances enacted at the January 28, 2008 City <br />