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EXTRACT OF MINUTES OF A MEETING OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE, MINNESOTA Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, Minnesota, was duly held at the City Hall in said City on Monday, June 9, 2008, commencing at 6:00 P.M. The following members were present: Willmus, Ihlan, Pust, Roe and Klausing and the following were absent: none. Member Pust introduced the following resolution and moved its adoption: RESOLUTION NO. 10628 RESOLUTION CALLING FOR A PUBLIC HEARING FOR A HEALTH CARE FACILITIES REVENUE NOTE WHEREAS, PHM&S Office Building, LLC (the sole member of which is Presbyterian Homes Management and Service, Inc., a Minnesota nonprofit corporation) (the "Borrower"), has proposed that a revenue note or notes (the "Revenue Note") be issued to finance a project (as defined), which is located in the City of Roseville, Minnesota (the "City"); and WHEREAS, the Project to be financed by the Revenue Note includes the financing or refinancing of various capital expenditures made by the Borrower at facilities owned or operated by the Borrower and located in the City; and WHEREAS, the City has been advised that, although the City will not issue the Revenue Note, a public hearing and City Council approval of the financing of the Project is required under Section 147(f) of the Internal Revenue Code because a portion of facilities to be financed or refinanced by the Revenue Note are located in the City; NOW, THEREFORE, BE IT RESOLVED by the City Council (the "Council") of the City of Roseville, Minnesota, as follows: 1. A public hearing on the proposal of the Borrower will be held at the time and place set forth in the Notice of Hearing hereto attached as Exhibit A. The general nature of the Project and an estimate of the aggregate principal amount of revenue note or other obligations to be issued to finance the Project are described in the Notice of Hearing. The Borrower shall cause notice of the hearing to be given one publication in the official newspaper and 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 Hearing. The motion for the adoption of the foregoing resolution was duly seconded by Member Ihlan and, after a full discussion thereof and upon a vote being taken thereon, the following voted in favor thereof: Willmus, Ihlan, Pust, Roe and Klausing and the following voted against the same: none. Whereupon the resolution was declared duly passed and adopted.