Title
Resolution Authorizing the Issuance and Sale of Conduit Revenue Bonds of the HRA and the City of Minneapolis on Behalf of Allina Health System and the Execution of Related Documents, District 9, Ward 2
Body
WHEREAS, this Board of Commissioners (the “Board”) of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) has received a proposal from Allina Health System, a Minnesota nonprofit corporation (the “Corporation”) that HRA and the City of Minneapolis, Minnesota (the “City”) acting jointly (the City and HRA are together referred to as the “Joint Issuers”) issue its revenue bonds under Minnesota Statutes, Sections 469.152 to 469.165 (the “Act”), in one or more tax-exempt series or subseries on behalf of the Corporation; and
WHEREAS, at a public hearing, duly noticed and held on March 22, 2017, in accordance with the Act and Section 147(f) of the Internal Revenue Code of 1986, as amended, on the proposal to finance the costs of the refunding described hereinafter, all parties who appeared at the hearing were given an opportunity to express their views with respect to the proposal, and interested persons were given the opportunity to submit written comments to the HRA before the time of the hearing; and
WHEREAS, the Corporation has represented to this Board that, pursuant to the Internal Revenue Code of 1986, as amended, and Minnesota Statutes, Section 471.656, each entity required thereby to hold a duly noticed public hearing with respect to the issuance of the Bonds and approve the issuance thereof has done or will do so prior to pricing the bonds issued pursuant to this resolution (the “Resolution”); and
WHEREAS, the HRA, the City, the Corporation and the original purchasers of the proposed revenue bonds have agreed upon sufficient details of the proposed revenue bonds to enable the HRA to adopt this Resolution on this date.
NOW, THEREFORE, BE IT RESOLVED by the Board of the HRA, as follows:
1. Proposal. The Board has...
Click here for full text