Title
Resolution Authorizing the Issuance and Sale of Conduit Charter School Lease Revenue and Refunding Bonds, under Minnesota Statutes, Sections 469.152 through 469.1655, for the Metro Deaf School Project, 1125 Energy Park Drive, and Authorizing the Execution of Documents Relating thereto; District 10, Ward 4
Body
WHEREAS,
(a) The Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) is duly organized and existing under the Constitution and laws of the State of Minnesota;
(b) Under the Minnesota Municipal Industrial Development Act, Minnesota Statutes, Sections 469.152-469.1655, as amended (the “Act”), each housing and redevelopment authority of the State of Minnesota, including the HRA, is authorized to issue revenue bonds to finance, in whole or in part, the costs of the acquisition, construction, improvement, or extension of revenue producing enterprises, whether or not operated for profit;
1House2Hands, Inc., a Minnesota nonprofit corporation (the “Borrower”), has requested that the HRA issue one or more series of conduit revenue and refunding bonds (the “Bonds”) and loan the proceeds derived from the sale of the Bonds to the Borrower, pursuant to the terms of Loan Agreement, dated as of August 1, 2018 (the “Original Loan Agreement”), as amended and supplemented by a supplement to the Loan Agreement, to be dated on or after November 1, 2025 (the “Supplemental Loan Agreement” and, together with the Original Loan Agreement, the “Loan Agreement”), between the HRA and the Borrower, to be used, together with proceeds of revenue notes (the “2025 PASP Note”) to be issued by the Port Authority of the City of Saint Paul (the “Port Authority”) to finance the “Project,” which consists of: (i) the refunding or optional redemption of a portion of the HRA’s Charter School Lease Revenue Bonds (Metro Deaf School Project), Series 2018A and Taxable Charter School Lease Revenue Bonds (Metro ...
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