Title
Consenting to the issuance by the City of Center City, Minnesota of Conduit Revenue Bonds on behalf of Hazelden Betty Ford Foundation (District 9, Ward 2).
Body
WHEREAS, representatives of Hazelden Betty Ford Foundation, a Minnesota nonprofit corporation (the "Borrower") have requested issuance by the City of Center City, Minnesota (the "Issuer") of its conduit revenue bonds (the "Bonds") for the purpose, in part, of refinancing conduit revenue obligations previously issued by the Issuer (the “Prior Bonds”) to finance the cost of a project for the Borrower in the City of Saint Paul, Minnesota (the “City”) including construction, improvement, renovation and equipping of the Borrower's facility at 680 Stewart Avenue in the City (the “St. Paul Facilities”); and
WHEREAS, governing body of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) previously adopted RES PH 14-174 (the “Original Consent Resolution”) which approved a public hearing with respect to the Prior Bonds and also consented to the issuance of the Prior Bonds by the Issuer; and
WHEREAS, the Original Consent Resolution also authorized the Executive Director, staff, and legal counsel of the HRA to take all necessary action to implement the Original Consent Resolution and the Executive Director of the HRA was authorized to execute and deliver any necessary document, agreement, and instruments as approved by the City Attorney’s Office; and
WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended, requires that the issuance of the Bonds to refinance the Prior Bonds be approved by the applicable elected representative of each governmental unit having jurisdiction over the area in which the financed facility is located, after a public hearing following reasonable public notice; and
WHEREAS, the members of the City Council of the City (the “City Council”) are the applicable elected representative of the City which has jurisdiction over t...
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