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Department Approval <br />REQUEST FOR COUNCIL ACTION <br />Manager Reviewed <br />--�� r� � <br />✓ (,�i <br />Date: 12/17/2001 <br />Item No.: H-1 <br />Item Description: A Public Hearing on Concordia Academy Request's <br />for tax exempt Private School Facility Revenue Bonds <br />Background <br />Agenda Section <br />Hearings <br />Concordia Academy has requested the City of Roseville to aid in the issuance of tax exempt private <br />school facility revenue bonds for a technology addition to it's school facility at 2400 Dale St. N, <br />Roseville, MN. <br />The City's bond counsel, Mary Ippel of Briggs & Morgan has reviewed the project and has indicated <br />the project meets all Internal Revenue Service and State statutory requirements (See letter attached.) <br />Financial Implications <br />There is no financial obligation on the part of the City of Roseville. All costs and debt service are to <br />be paid by the borrower including a 1% issuance fee to the City. <br />Council Action <br />Motion to approve the attached resolutions regarding the issuance of $4.5 million of Private School <br />Facility Revenue Bonds, Series 2001 for Concordia Academy and upon final review by the City's <br />bond counsel, further authorize the Mayo �aa�d City Manage� to ign the required documents. <br />nr � �- <br />� ca.�' i'tiranl� V�►W�O�' <br />