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approval on the issuance and sale of the Charter School Lease Revenue Refunding bonds. The final approval will <br /> be brought forward to the same meeting that City Council considers the PACT School project site plan and plat <br /> approvals. Authorizing Preliminary Approval of the Lease Revenue bonds, at this time, allows bond counsel <br /> (Taft Stettinius &Hollister,LLP)to proceed with making the required application to DEED per section 469.153 <br /> (2b) of the MN Statutes noted above. <br /> NOTE: Preliminarily Approving the Issuance and Sale of the lease revenue bonds is not giving preliminary <br /> approval to the site plan,preliminary plan or variance request for a New Pact School 6-12th Grade Campus. <br /> Notification: <br /> The Public Hearing notice was published in the Anoka County UnionHerald on May 27, 2022. <br /> Time Frame/Observations/Alternatives: <br /> Alternative#1: Adopt Resolution#22-141 Preliminarily Approving the Issuance and Sale of Charter School Lease <br /> Revenue Refunding Bonds (PACT Charter School). <br /> Alternative#2: Deny issuance of Conduit Debt for Pact Charter School. Pact would have to find another <br /> government agency to issue on their behalf to take advantage of lower interest rates via conduit borrowing. <br /> Funding Source: <br /> Incurred expenses will be paid by Pact Charter School. <br /> Recommendation: <br /> Staff recommends adopting Resolution#22-141 Authorizing Preliminary Approval on the Issuance and Sale of <br /> Charter School Lease Revenue Refunding Bonds (Conduit Debt) (Pact Charter School Project) <br /> Outcome/Action: <br /> Adopt Resolution#22-141 Authorizing Preliminary Approval on the Issuance and Sale of Charter School Lease <br /> Revenue Refunding Bonds (Conduit Debt) (Pact Charter School Project) <br /> Attachments <br /> Resolution#22-141 <br /> Indemnification Letter of Agreement <br /> Conduit Debt Policy Exh a <br /> Form Review <br /> Inbox Reviewed By Date <br /> Brian Hagen Diana Lund 06/08/2022 12:16 PM <br /> Diana Lund(Originator) Diana Lund 06/08/2022 12:17 PM <br /> Brian Hagen Brian Hagen 06/08/2022 08:26 PM <br /> Form Started By:Diana Lund Started On:06/01/2022 09:43 AM <br /> Final Approval Date:06/08/2022 <br />