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Regular City Council Meeting Monday, Februar~l_1~2008 Page 7 ~`'~ prepare the necessary documents for execution, subject to City Attorney approval as to legal form. Roll Call Ayes: Kough; Pust; Ihlan; Roe; and Klausing. Nays: None. 8. Consider Items Removed from Consent a. Set a Public Hearing to Issue Tax-Exempt Revenue Bonds on Behalf of Con- cordia Academy Finance Director Miller provided a brief overview of the request of Concordia Academy, 2400 N Dale Street in Roseville, for the City's assistance in issuance of tax-exempt revenue bonds to finance improvements at both their Roseville and Bloomington facilities. Mr. Miller noted that this was conduit debt, and did not constitute a legal or moral obligation on the part of the City; and under Federal and State Statute, municipalities were authorized to pledge their bond issuance au- thority to non-profit groups for the benefit of educational facilities. Councilmember Ihlan expressed concern, and requested additional information and legal counsel, on the appropriateness of such an action; and policy considera- tions of whether the City was within their constitutional rights, based on the sepa- ration of church and state, to issue bonds for Concordia Academy, areligious- based institution with a specific mission, with the institution receiving a direct fi- nancial benefit through the pledging of the City's name and credit rating to make bonds tax-exempt and easier to sell. Klausing moved, Pust seconded, adoption of Re~ol~tio `No 10594 entitled, ""Resolution Calling for a Public Hearing on a Proposal for a Private School Fa- cility Project Pursuant to Minnesota Law, and Authorizing the Publication of a Notice of the Hearing;" scheduling a Public Hearing for March 3, 2008, for the purposes of issuing approximately $7 million in tax-exempt revenue bonds for Concordia Academy. Roll Call Ayes: Kough; Pust; Ihlan; Roe; and Klausing. Nays: None. Mayor Klausing noted that this question had been raised in the past, and sug- gested that staff may already have a formal legal opinion on staff, without the need to obtain an additional legal opinion. 9. General Ordinances a. Consider Publication of Ordinance Summaries City Manager Malinen, in the staff report dated February 11, 2008, compared costs for publication of two ordinances enacted at the January 28, 2008 City