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RESOLUTION N(�" <br />APPROVING AND AUTHORIZING THE ISSUANCE OF <br />REVENUE NOrES BY THE CITY OF BItAINEI� UNDER <br />MINNESOTA 5`fATU"T�S. SECTIONS 469.152 THROUGH <br />469.165, AS AvtENbED, TO FINANCE PROPERTY FOR <br />THE BENEFIT OF LUTHERAN SOCIAL SERVICE OF <br />MINNESOTA <br />WHEREAS. under the Minnesota Municipal Industrial Dcvelopment Act. Minnesota <br />Statutes, Sections 469. t52-a69.165, as amended (the "Act"). each municipality and <br />redevelopment agency of the State of Minne�ota (as defined in the Act). including the City of <br />Brainerd. Millriesota (the "City of Brainerd"). is authorized to issue revcnuE obligations to <br />finance capital equipment and improvements to land and buildings for thc benefit of a revenue <br />producin� enterpr�se to bc owned by a contracting patty (as defined in the Act); and <br />wHER�AS, under Section 469.155. subdivision 9. of the Act. the City of Brainerd i� <br />authotizcd to enter into and perform contracts and agreements with other municipalities as the <br />governing bodies of the c2ry and as the other municipalitics may deem proper and feasible for pr <br />concerning the financing of a project under the Act. including an agreemcnt Wherehy one <br />municipality issues its revenue obligations in behalf of one or mote other �nunicipalit�e�: and <br />V�%NEIt�AS, the City of Brainerd. has proposed to issue one ar mote rcvenua notes (thc <br />"Note�"}and loan the proc�cd� denved itom the sale of the Natcs to Lutheran Social Sctvicc of <br />Minnesota. a nonprofit oYgai�iza,tior! (the `Borrower"), to finance thc acquisition of computct <br />equipment and motor vehicles. and the acquisition and construction of improvements to e�sting <br />buildings (the "Project"). to be located at the e�sting facilities of the Borrower in numerous <br />municip�llties in the State of M1z1tte5otd: and <br />WI�EREA�, a public hearin� on thc ProjECt wac held on tbe date hereof. after notice was <br />published and materials made available for public inspection at the City Hall. all as required by <br />the Act and Section l�7�t� of the Internal Revenue Code of 1986. as amended. at which public <br />hearing a11 those appearing who d..sircd to speak wEre heard and written comments were <br />accepted; and <br />WHEREAS. a portion of the Pro�ect will be located in the City of Brainerd and at the <br />e�sting facilities of the Borrower in the City of Roseville. NTinnesota (the "City"): <br />� <br />