Title
Resolution Consenting to the Issuance by the City of Center City, Minnesota of 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 revenue bonds (the "Bonds") for the purpose, in part, of financing the cost of a project, including construction, improvement, renovation and equipping of the Borrower's facility at 680 Stewart Avenue, St. Paul, Minnesota, consisting of demolition of an existing residential building and construction of a new 55,000 sq. ft. building including 55 new residential beds, group rooms, office space, lecture hall and kitchen and dining facilities, and renovation of an existing 13,500 sq. ft. mansion; and
WHEREAS, Minnesota Statutes, Section 471.656 provides that for property located outside the jurisdictional boundaries of the Issuer, the governing body of the city in which the property is located must consent by resolution to the issuance of the Bonds; and
WHEREAS, Internal Revenue Code Section 147(f) requires that the issuance of the 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 public hearing following reasonable public notice; and
WHEREAS, the members of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA") are all of the elected members of the City Council of the City of Saint Paul; and
WHEREAS, the HRA has on this date conducted a public hearing on the issuance of the Bonds by the Issuer, after due publication of notice thereof in the official newspaper of the City of Saint Paul and a newspaper of general circulation in the City of Saint Paul;
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment Authority of the City of Saint Paul, Minnes...
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