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organization described in section 501(c)(3) of the Internal Revenue Code of 1986 (the "Code but only with the consent of the original issuer of such bonds; and WHEREAS, since a portion of the facilities proposed to be refinanced by the Bonds are located in the City, Section 147(f) of the Code and regulations promulgated thereunder require that, prior to the issuance of the Bonds, this Council approve the issuance of the Bonds by the City of Bloomington, after conducting a public hearing thereon; and WHEREAS, on the date hereof, the City conducted a public hearing on the issuance of the Bonds for the purposes of refinancing the Roseville Project, at which a reasonable opportunity was provided for interested individuals to express their views, both orally and in writing, on the refinancing of the Roseville Project and the proposed issuance of the Bonds by the City of Bloomington, notice of which was published as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code in the Roseville Review, the official newspaper of the City and a newspaper circulating generally in the City; and NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROSEVILLE, MINNESOTA: 1. The issuance of the Bonds by the City of Bloomington pursuant to the Act for the purpose of redeeming and prepaying the Series 2002 Bonds issued by the City and refinancing the Roseville Project is hereby approved. 2. The Bonds will constitute a revenue obligation secured solely by the security pledged by the Borrower, including a mortgage on one of the projects refinanced with the proceeds of the Bonds, revenues derived from the operation of another project owned by the Borrower, and other security provided by the Borrower. The Bonds will not constitute a general or moral obligation of the City of Bloomington or the City, or be secured by any taxing power of the City of Bloomington or the City. 3. The Borrower will, upon demand, reimburse the City for costs paid or incurred by the City in connection with this resolution. Adopted by the City Council of the City of Roseville on this 15th day of November, 2010. Cr lg D. Klausing, Mayor Attest: Wi NI J. Malinen, City Manager BL130 -142 (JAE) 377312v2 2