Title
Resolution authorizing the issuance and sale of conduit revenue bonds, under Minnesota Statutes, Sections 469.152 through 469.1655, for the Regions Hospital Project located at 640 Jackson Street, and approving related documents; District 17, Ward 2
Body
WHEREAS,
(a) The purpose of Minnesota Statutes, Sections 469.152 to 469.1655 (the “Act”), as found and determined by the legislature, is, among other things, to promote the welfare of the state by the provision of necessary health care facilities so that adequate health care services are available to residents of the state at reasonable cost;
(b) The Board of Commissioners (the “Board”) of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) has received from Regions Hospital (the “Borrower”), a Minnesota nonprofit corporation organized under the laws of the State of Minnesota, a proposal that the HRA assist in financing certain health care facilities hereinafter described through the issuance of revenue Bonds, in one or more series, as further defined below (the “Bonds”), pursuant to the Act;
(c) The HRA desires to facilitate the selective development of the community, retain and improve the tax base and help to provide the range of services and employment opportunities required by the population, including health care services and facilities; and the Project described below will assist the HRA in achieving those objectives and will enhance the image and reputation of the community;
(d) The Borrower has proposed that the HRA issue the Bonds (i) to finance a portion of the costs of the acquisition, construction and equipping of an approximately 159,253 square-foot, four-story building for a new birth center on the Regions Hospital campus located at 640 Jackson Street in the City of Saint Paul, Minnesota (the “City”); and (ii) to pay a portion of the costs of issuing the Bonds (co...
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