Title
Resolution Authorizing the Issuance of Conduit Revenue Bonds for the Academia Cesar Chavez Project under Minnesota Statutes, Sections 469.152 through 469.1655 and Approving Related Documents, District 2, Ward 6.
Body
WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “Authority”) is duly organized and existing under the Constitution and laws of the State of Minnesota; and
WHEREAS, 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 Authority, 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; and
WHEREAS, ACC Building Company, a Minnesota nonprofit corporation (the “Borrower”), has represented to the Authority that it is proposing to assist Academia Cesar Chavez Charter School, an operating public charter school (the “School”), in the acquisition of a parcel of property containing approximately 3.67 acres, located on the city block bounded by White Bear Avenue, East Ames Avenue, Van Dyke Street and East LaCrosse Avenue in the City of Saint Paul, Minnesota (the “City”), together with the buildings and structures located thereon, and the renovation, construction and equipping of the existing approximately 35,000 square foot school building and the existing approximately 15,000 square foot church building, and the construction and equipping of an approximately 35,000 square foot addition to the existing buildings, on such land, all for use as a public charter schoolhouse for pre-kindergarten through grade eight (the “Schoolhouse”); and
WHEREAS, the Borrower has requested that the Authority issue one or more series of revenue bonds to be designated Charter School Lease Revenue Bonds (Academia Cesar Cha...
Click here for full text