Title
Resolution giving approval to a Project; Authorizing the Issuance and Sale of Conduit Revenue Bonds under Minnesota Statutes, Sections 469.152 through 469.165, as amended; and Authorizing the Execution of Necessary Documents (HealthEast Care System), Districts 4, 7, 13 17 and Wards 1, 2, 4, 6
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WHEREAS, this Board of Commissioners (the “Board”), has received a proposal from HealthEast Care System (the “Corporation”), that the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “Issuer”), issue its revenue bonds (the “Bonds”) under Minnesota Statutes, Sections 469.152 through 469.165, as amended (the “Act”), in one or more series (a) to refund all of the outstanding Hospital Facility Revenue Bonds (HealthEast Project), Series 2005 issued by the Issuer for the purpose of (i) financing a project consisting of the expansion, renovation and equipping of St. Joseph’s Hospital (“St. Joseph’s”), located at 45 West 10th Street in the City of St. Paul, Minnesota (the “City”); (ii) refunding the Issuer’s Hospital Facility Revenue Crossover Refunding Bonds (HealthEast Project), Series 1993A; (iii) refunding the Issuer’s Hospital Facility Revenue Bonds (HealthEast Project), Series 1993B; (iv) refunding the Housing and Redevelopment Authority of the City of South Saint Paul, Minnesota Hospital Facility Revenue Refunding Bonds (HealthEast Project), Series 1994 and (v) refunding the City of Maplewood, Minnesota Health Care Facility Revenue Bonds (HealthEast Project), Series 1996; (b) to refinance a taxable loan from General Electric Capital Corporation to the Corporation; (c) to finance the purchase from the Port Authority of the City of Saint Paul, Minnesota (the “Port Authority”) of an eight-story office building and surface parking located at 1690 University Avenue West in the City (“Midway”) by the redemption of such issuer’s Lease Revenue Bonds (HealthEast Midway Campus Project), Series 2005-3A and Series 2005-3B (the “Port Authority Bond...
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