Resolution - #09-10-243 - 10/13/2009

Home

Mayor Ramsey introduced the following resolution and moved for its adoption: RESOLUTION # 09-10-243 RESOLUTION APPROVING THE ISSUANCE OF BONDS BY THE CITY OF MINNEAPOLIS AND THE HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA, ON BEHALF OF ALLINA HEALTH SYSTEM UNDER MINNESOTA STATUTES, SECTIONS 469.152 TO 469.165 NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: SECTION 1 Recitals and Findings 1.1. Allina Health System, a Minnesota nonprofit corporation ("Allina"), has advised this Council of its desire to finance the acquisition, construction and equipping of a new medical clinic (the "Clinic") to be located at one of the following sites within the City: the existing Allina Medical Clinic - Ramsey site at 5300 Alpine Drive Northwest; the northwest comer of Ramsey Boulevard and Sunwood Drive Northwest; the southwest comer of Ramsey Boulevard and SunwoodDrive Northwest; or a site located on Riverdale Drive Northwest adjacent to and immediately to the East of the Village Bank site that is located at 7125 Riverdale Drive Northwest with the proceeds of revenue bonds (the "Bonds") issued by the City of Minneapolis and The Hopsing and Redevelopment Authority of the City of S1. Paul (together, the "Issuer") under the authority of Minnesota Statutes, Sections 469.152 through 469.165 (the "Act"). The Bonds are proposed to be issued in an aggregate amount which is not expected to exceed $420,000,000, thy proceeds of which will be issued to finance or refinance the acquisition, construction; renovation, remodeling and equipping by Allina or its affiliates of health care facilities located in the Cities of Minneapolis, S1. Paul, Brooklyn Park, Blaine, Buffalo, Coon Rapids, Cpttage Grove and Fridley, Minnesota, in addition to financing the Clinic. The portion of the Bond~ allocable to the Project is expected to be approximately $8,800,000. 1.2. At a public hearing held on October 13,2009, all parties who appeared at the hearing were given an opportunity to express their views with respect to the proposal to finance the Clinic through the iS$uance of the Bonds under the Act by the Issuer, and interested persons were given the opportunity to submit written comments to the City Clerk before the time of the hearing. SECTION 2 Approvals 2.1. The issuance of Bonds by the Issuer pursuant to theAct to finance the Clinic and to carry out the other purposes described hereinabove is hereby consented to and approved. The terms of the Bonds shall be as are approved by the governing bodies of the Issuer.