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RESOLUTION NO. 10645 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE, MINNESOTA APPROVING THE ISSUANCE OF COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY REVENUE BONDS IN A MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF $9,000,000 FOR THE PURPOSES OF FINANCING AND REFINANCING THE COSTS OF ACQUISITION, CONSTRUCTION, IMPROVEMENT, RENOVATION AND EQUIPPING OF CERTAIN FACILITIES AND CERTAIN OTHER MATTERS RELATING THERETO WHEREAS, it has been requested that the Colorado Educational and Cultural Facilities Authority (the "Authority") participate in the issuance of one or more series of revenue bonds in an aggregate principal amount not to exceed $9,000,000 (the "Bonds") to be used to: (a) finance the costs of, or reimburse the Northwestern College (the "Institution") for the costs of, certain higher education facilities and related costs, including but not limited to (i) acquisition, renovation and equipping of an office building located at 2803 Lincoln Drive, Roseville, Minnesota 55113, (ii) planning and capital construction costs of campus roadways and a parking facility on the Institution's main campus located at 3003 Snelling Avenue North, Roseville, Minnesota 55113 (the "Main Campus") and (iii) capital campus landscaping costs on the Main Campus (collectively, the "Project"); (b) fund capitalized interest on the Bonds, if any; (c) fund any required debt service reserve fund; and (d) pay certain costs of issuance of the Bonds, including initial costs of any credit enhancement. The Institution will be the initial owner and operator of the Project; and WHEREAS, pursuant to Section 147(f) of the Code, prior to their issuance, the Bonds are required to be approved by the "applicable elected representative" of the governmental unit having jurisdiction over the entire area in which any facility financed or refinanced by the Bonds is to be located, after a public hearing held following reasonable public notice; and WHEREAS, the Institution has represented to the City of Roseville (the "City") that the facilities located at 3003 Snelling Avenue North, Roseville, Minnesota and at 2801 Lincoln Drive, Roseville, Minnesota to be financed or refinanced are located within the territorial limits of the City; and WHEREAS, the members of the City Council of the City are the applicable elected representatives of the City; and WHEREAS, Bond Counsel has advised that there has been published, at least 14 days prior to the date hereof, in a newspaper of general circulation within the City, a notice that a public hearing regarding the Bonds would be held on the date hereof; and WHEREAS, such public hearing was conducted on the this date by the City Council of the City, at which time an opportunity was provided to interested parties to present arguments both for and against the issuance of the Bonds; and WHEREAS, the City has been informed that the Bonds will not constitute a debt or liability of the City and the City shall have no payment obligations with respect to the Bonds; and