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11136691v2 <br /> <br /> <br />EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />LITTLE CANADA, MINNESOTA <br />Pursuant to due call and notice thereof, a regular meeting of the City Council of the City <br />of Little Canada, Minnesota was duly held in the City Hall in said City on Monday, October 29, <br />2018, commencing at 7:30 o’clock P.M. <br />The following Council members were present: <br /> <br /> <br />and the following were absent: <br /> <br /> <br />Council member ___________ introduced the following resolution and moved its <br />adoption: <br />RESOLUTION NO._______ <br />A RESOLUTION CALLING FOR A PUBLIC HEARING <br />ON THE ISSUANCE OF HEALTH CARE FACILITIES REVENUE NOTES AND <br />RATIFYING AND AFFIRMING THE ACTIONS TAKEN FOR <br />THE PUBLICATION OF A NOTICE OF HEARING <br />(PRESBYTERIAN HOMES CARE CENTERS, INC. – LANGTON PLACE PROJECT) <br /> <br />WHEREAS, Minnesota Statutes, Sections 469.152 through 469.165, relating to <br />municipal industrial development (the “Act”), gives municipalities the power to issue revenue <br />obligations for the purpose of promoting the welfare of the state by the active attraction and <br />encouragement and development of economically sound industry and commerce to prevent so far <br />as possible the emergence of blighted and marginal lands and areas of chronic unemployment; <br />and <br />WHEREAS, the City of Little Canada, Minnesota (the “City”) has received from <br />Presbyterian Homes Care Centers, Inc., a Minnesota nonprofit corporation and 501(c)(3) <br />organization (the “Borrower”), a proposal that the City undertake a program to assist in financing <br />the “Project” described in the form of Notice of Public Hearing attached hereto as Exhibit A, <br />through the issuance of revenue notes or other obligations (in one or more series) (the “Notes”) <br />pursuant to the Act; and <br />WHEREAS, before proceeding with consideration of the request of the Borrower <br />it is necessary to hold a public hearing on the proposal pursuant to the Act and to Section 147(f) <br />of the Internal Revenue Code of 1986, as amended (the “Code”): <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of Little Canada, <br />Minnesota, as follows: