Title
Approving a public hearing on the issuance of conduit revenue bonds by the Housing and Redevelopment Authority (the “HRA”), acting jointly with the City of Minneapolis on behalf of Children’s Health Care, 345 North Smith Avenue (District 9, Ward 2) (the “Borrower”).
Body
(a) Minnesota Statutes, Sections 469.152 through 469.1655, as amended (the “Act”) confers upon each housing and redevelopment authority of the State of Minnesota, including the HRA, the authorization 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; and
(b) The HRA has been designated, to exercise, on behalf of the City of Saint Paul, Minnesota (the “City”) the powers conferred by Minnesota Statutes, 469.152 through 469.1655, as amended; and
(c) The HRA and the City of Minneapolis (“Minneapolis” and collectively with the HRA the “Joint Issuer”) has received a proposal from the Borrower, to finance a project hereinafter described, pursuant to the Act, through the issuance of one or more series of conduit revenue bonds, in an estimated aggregate principal amount not to exceed $221,000,000 (the “Bonds”); and
(d) The project to be financed by the Bonds is to (i) refund bonds issued on behalf of the Borrower pursuant to the Act through issuance by the Joint Issuer of its Health Care Facilities Variable Rate Revenue Refunding Bonds (Children’s Health Care), Series 2020A and (ii) finance a project consisting of (a) acquisition of an electronic medical records system; (b) improvements to the Borrower’s facilities located at 345 North Smith Avenue and adjacent facilities in St. Paul, Minnesota, including acquisition of capital equipment and improvements to the Garden View medical building, the pharmacy and emergency department; (c) improvements to the Borrower’s facilities loc...
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