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General Obligation Bond Proceeds <br />Grant Agreement — Construction Grant <br />for the <br />Twin Lakes Redevelopment <br />Project <br />under the <br />Redevelopment Grant <br />Program <br />THIS AGREEMENT shall be effective as of September 12, 2008 and is between the city <br />of Roseville, a statutory city (the "Public Entity"), and the Minnesota Department of <br />Employment and Economic Development (the "State Entity"). <br />RECITALS <br />A. The State Entity has created and is operating a Redevelopment Grant Program (the <br />"State Program") under the authority granted by Minn. Stat. §§ 116J.571 to 116J.575 and all <br />rules related to such legislation (the "State Program Enabling Legislation"). <br />B. Under the State Program, the State Entity is authorized to provide grants that are <br />funded with proceeds of state general obligation bonds authorized to be issued under Article XI, <br />§ 5(a) of the Minnesota Constitution. <br />C. Under the State Program the recipients of a grant must use such funds to perform <br />those functions delineated in the State Program Enabling Legislation. <br />D. The Public Entity submitted, if applicable, a grant application to the State Entity in <br />which the Public Entity requests a grant from the State Program the proceeds of which will be <br />used for the purposes delineated in such grant application. <br />E. The Public Entity has applied to and been selected by the State Entity for a receipt of <br />a grant from the State Program in an amount of $528,846 (FIVE HUNDRED TWENTY-EIGHT <br />THOUSAND EIGHT HUNDRED FORTY-SIX DOLLARS) (the "Program Grant"), the <br />proceeds must be used by the Public Entity to perform those functions and activities imposed by <br />the State Entity under the State Program. <br />F. Under the provisions contained in § 412.221, subd. 6 and § 160, the Public Entity has <br />been given the authority to perform those functions and activities required of it under the State <br />Program. <br />G. The Public Entity's receipt and use of the Program Grant to acquire and/or improve <br />real property (the "Real Property") and, if applicable, structures situated thereon (the "Facility") <br />will cause all of such real property and structures to become "state bond financed property", as <br />such term is used in Minn. Stat. § 16A.695 (the "G.O. Compliance Legislation") and in that <br />Generic GO Bond Proceeds 1 Ver — 8/20/08 <br />Grant Agreement for ProgramConstruction Grants (Gnrc GO GA-Prgrm Cnstrctn Grnt) <br />RDGP-08-0029-o-FY09 <br />