Title
Resolution Authorizing the Issuance and Sale of Conduit Revenue Bonds of the HRA and the City of Minneapolis on behalf of Children’s Health Care, located at 345 North Smith Avenue, and the Execution of Documents, District 9, Ward 2
Body
WHEREAS, this Board of Commissioners (the “Board”) of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) has received a proposal from Children’s Health Care, a Minnesota nonprofit corporation (the “Borrower”) that the HRA and the City of Minneapolis, Minnesota (“Minneapolis”) acting jointly (Minneapolis and the HRA are together referred to as the “Joint Issuers”) issue conduit revenue bonds under Minnesota Statutes, Sections 469.152 to 469.165, as amended (the “Act”), in one or more tax-exempt series or subseries on behalf of the Borrower (the “Bonds”); and
WHEREAS, at a public hearing, duly noticed and held by the Board on the date hereof (December 11, 2024), on the proposal to finance and refinance the costs of the project described hereinafter, all parties who appeared at the hearing were given an opportunity to express their views with respect to the proposal, and interested persons were given the opportunity to submit written comments to the HRA before the time of the hearing; and
WHEREAS, on the date hereof, the City Council of the City of Saint Paul, Minnesota (the “City”), will, as the applicable elected official, consider a resolution approving the public hearing held by the Board on the Bonds and the Project in accordance with the Act and Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”); and
WHEREAS, the Borrower has represented to this Board that each governmental entity required by the Code and Minnesota Statutes, Section 471.656, as amended, to hold a duly noticed public hearing with respect to the issuance of the Bonds and approve the issuance thereof, has done or will do so; and
WHEREAS, pursuant to Section 469.155, subdivisi...
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