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HomeMy WebLinkAboutCity Council Resolution 2021-20213550746v1 CERTIFICATE AS TO RESOLUTION AND ADOPTING VOTE I, the undersigned, being the duly qualified and acting City Clerk of the City of Plymouth, Minnesota (the "City"), hereby certify that the attached resolution is a true copy of Resolution No. 2021- 202, entitled: "RESOLUTION AUTHORIZING THE ISSUANCE OF GOVERNMENTAL HOUSING REFUNDING BONDS TO BE ISSUED BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF PLYMOUTH AND AFFIRMING THE PLEDGE OF THE GENERAL OBLIGATION OF THE CITY OF PLYMOUTH TO THE PAYMENT OF PRINCIPAL AND INTEREST ON THE BONDS" (the "Resolution"), on file in the original records of the City in my legal custody; that the Resolution was duly adopted by the City Council of the City at a meeting on July 27, 2021, and that the meeting was duly held by the City Council and was attended throughout by a quorum; and that the Resolution has not as of the date hereof been amended or repealed. I further certify that upon vote being taken on the Resolution at said meeting, the following Councilmembers voted in favor thereof: Deputy Mayor Roehl, Council Members, Davis, Willis, Carroll, McGregor and Prom and the following voted against the same: None and the following abstained from voting thereon or were absent: Mayor Wosje WITNESS my hand officially this 27th day of July, 2021. City Clerk RESOLUTION NO. 2021-202 RESOLUTION AUTHORIZING THE ISSUANCE OF GOVERNMENTAL HOUSING REFUNDING BONDS TO BE ISSUED BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF PLYMOUTH AND AFFIRMING THE PLEDGE OF THE GENERAL OBLIGATION OF THE CITY OF PLYMOUTH TO THE PAYMENT OF PRINCIPAL AND INTEREST ON THE BONDS BE IT RESOLVED by the City Council of the City of Plymouth, Minnesota (the "City"), as follows: Section 1. Recitals. 1.1 Whereas, the Housing and Redevelopment Authority in and for the City of Plymouth (the "Authority") issued its Governmental Housing Project Bonds (City of Plymouth, Minnesota, General Obligation), Series 2012A (the "2012A Bonds"), dated, as originally issued, as of April 5, 2012, in the original principal amount of $9,890,000, to refinance the acquisition and construction of multifamily housing facilities designed for occupancy by elderly persons (the "Project"); and 1.2 Whereas, pursuant to the provisions of Minnesota Statutes, Sections 469.034, the City assisted in the financing of the Project by authorizing the Authority to pledge the general obligation credit and taxing powers of the City to the repayment of the 2012A Bonds; and 13550746v1 2 1.3 Whereas, the Authority desires to issue its Governmental Housing Project Refunding Bonds (City of Plymouth, Minnesota, General Obligation), Series 2021A (the "Bonds") to refund the outstanding 2012A Bonds; and 1.4 Whereas, the Authority has requested that the City reaffirm its support of the Project by reaffirming the Authority's authorization to pledge the City's general obligation to the Bonds. Section 2. Documents To Be Filed In connection with the proposed refinancing of the Project by the Authority, the resolution of the Authority authorizing the sale of the Bonds has been prepared and filed with the City and an official statement (the "Official Statement") shall be prepared by Ehlers & Associates, Inc., municipal advisor to the Authority, in cooperation with the City and Authority. Section 3. Authorization and Approval Pursuant to the authorization contained in Minnesota Statutes, Section 469.034, the City hereby approves the sale and issuance of the Bonds by the Authority and authorizes the Authority to pledge the full faith, credit and taxing powers of the City to the repayment of the Bonds. The issuance of the Bonds shall be subject to final approval of the Board of Commissioners of the Authority. Section 4. Approval of Documents and Related Matters The City hereby consents to the circulation of the Official Statement. The Mayor and City Clerk are authorized to execute such certificates relating to the sufficiency, accuracy and completeness of the information contained therein relating to the City as may be reasonably necessary in connection with the issuance and sale of the Bonds. 4.2 In connection with the continuing disclosure requirements for the Bonds, the officers of the City are hereby authorized and directed to enter into such undertakings and supply to the Authority such updated financial and other information relating to the City as may be required from time to time by the Authority so as to permit the Authority to comply with the continuing disclosure requirements. 4.3 The Mayor and City Clerk are also authorized and directed to execute such closing certificates and other documents as may be necessary or desirable to assist the Authority in completing the transaction. Section 5. Absence of Officers In the absence or disability of the Mayor or the City Clerk, any of the documents authorized by this resolution to be approved and executed by the Mayor or the City Clerk may be so approved and executed by the acting Mayor or the acting City Clerk, as applicable. APPROVED by the City Council on this 27th day of July, 2021.