Title
Resolution authorizing the issuance and sale of revenue refunding bonds of the HRA and the City of Minneapolis on behalf of Allina Health System and the execution of 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 the 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 on behalf of the Corporation; and
WHEREAS, the HRA, the City, the Corporation and the Underwriters, as defined hereinafter, of the proposed revenue bonds have agreed upon sufficient details of the proposed revenue bonds to enable the HRA to adopt this resolution (the “Resolution”) on this date.
NOW, THEREFORE, BE IT RESOLVED by the Board of the HRA, as follows:
1. Proposal. The Board has received a proposal from the Corporation that the HRA and the City refund bonds issued on behalf of the Corporation pursuant to the Act through issuance by the Joint Issuers of one or more series of health care revenue bonds (the “Bonds”) pursuant to a Joint Powers Agreement (the “Joint Powers Agreement”) entered into pursuant to Minnesota Statutes, Section 471.59.
2. The Refunding. The Bonds shall be issued for the purpose of of (i) refunding revenue bonds heretofore issued by the Joint Issuers on behalf of the Corporation, including the Joint Issuers’ Health Care System Revenue Bonds, Series 2009A-1 (Allina Health System) and Health Care System Revenue Bonds, Series 2009A-2 (Allina Health System) (collectively, the “Refunded Bonds”) and (ii) paying capitalized interest, costs of issuance, swap termination paym...
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