Title
Resolution Authorizing the Issuance and Sale of Conduit Revenue Bonds on Behalf of Fairview Health Services, with Multiple Facilities Located in Saint Paul, under Minnesota Statutes 469.152 through 469.1655, and the Execution of Related Documents, Districts 7 and 17 and Wards 1 and 2
Body
WHEREAS, this Board of Commissioners (the “Board”), has received a proposal from Fairview Health Services and its affiliates (together, the “Corporation”), that the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “Issuer”), issue its revenue bonds, in one or more series (the “Bonds”) under Minnesota Statutes, Sections 469.152 through 469.165, as amended (the “Act”), to finance the acquisition of facilities described herein by (i) refinancing all or part of the Issuer’s outstanding (a) Hospital Facility Revenue Bonds (HealthEast Care System Project), Series 2015A (the “Series 2015A Bonds”); (b) Hospital Facility Revenue Refunding Bond (HealthEast Care System Project), Series 2012B (the “Series 2012B Bonds”); and (c) Hospital Facility Revenue Refunding Bonds (HealthEast Care System Project), Series 2012C (the “Series 2012C Bonds”); (ii) refinancing all or part of an interim taxable loan that refinanced a loan incurred in the acquisition of Grand Itasca, as described hereinafter (the “Grand Itasca Debt,” and together with the Series 2015A Bonds, Series 2012B Bonds and Series 2012C Bonds, the “Prior Obligations”); (iii) paying a portion of the interest to accrue on the Bonds, and (iv) paying certain costs of issuance of the Bonds and costs of refinancing the Prior Obligations. Together with other facilities, the Corporation owns and operates Bethesda Hospital (“Bethesda”), located at 559 Capitol Boulevard in the City of St. Paul (the “City”); St. John’s Hospital, located at 1575 Beam Avenue in the City of Maplewood (“St. John’s”); St. Joseph’s Hospital, located at 45 West 10th Street in the City (“St. Joseph’s”); the Woodwinds Health Campus loca...
Click here for full text