Title
Resolution Authorizing the Issuance of Conduit Revenue Refunding Bonds for District Energy St. Paul, Inc., with Facilities throughout Downtown Saint Paul and Surrounding Areas, under Minnesota Statutes, Sections 469.152 through 469.1655 and Approving Related Documents, District 17, Ward 2
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WHEREAS, the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the “HRA”) 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 HRA, is authorized to issue revenue bonds to finance or refinance, 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, District Energy St. Paul, Inc., a Minnesota nonprofit corporation (the “Corporation”), has represented to the HRA that it is proposing to current refund the HRA’s outstanding (a) District Heating Revenue Bonds, Series 2013A (501(c)(3)); (b) District Heating Revenue Refunding Bonds, Series 2013B (Non-AMT); (c) District Cooling Revenue Bonds, Series 2013A (501(c)(3)); and (d) District Cooling Revenue Refunding Bonds, Series 2013B (Non-AMT) (collectively, the “Refunding”); and
WHEREAS, the prior revenue bonds referred to in the preceding paragraph in (a) through (d) are collectively referred to herein as the “Prior Bonds”; and
WHEREAS, the Prior Bonds were previously issued by the HRA and the proceeds were loaned to the Corporation to refinance revenue bonds previously issued by the Port Authority of the City of Saint Paul (the “Port Authority”) to finance a portion of the cost of the acquisition, construction, reconstruction, improvement, betterment or extension of the properties utilized by the Corporation or its affil...
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