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HomeMy WebLinkAboutCity Council Resolution 2013-269CERTIFICATION OF MINUTES RELATING TO A PROJECT ON BEHALF OF PHS WESTHEALTH, INC. Issuer: City of Plymouth, Minnesota Governing body: City Council Kind, date, time and place of meeting: A regular meeting held on August 13, 2013, at 7:00 p.m. at the City Offices. Members present: Mayor Slavik, Councilmembers Black, Stein, Bildsoe, Willis, and Wosje. Members absent: Councilmember Johnson. Documents attached: Minutes of said meeting (pages): RESOLUTION NO. 2013-269 RESOLUTION GIVING PRELIMINARY APPROVAL TO A PROJECT ON BEHALF OF PHS WESTHEALTH, INC. AND ITS FINANCING UNDER MINNESOTA STATUTES, SECTIONS 469.152 TO 469.165; REFERRING THE PROPOSAL TO THE MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT FOR APPROVAL I, the undersigned, being the duly qualified and acting recording officer of the public corporation issuing the obligations referred to in the title of this certificate, certify that the documents attached hereto, as described above, have been carefiilly compared with the original records of the corporation in my legal custody, from which they have been transcribed; that the documents are a correct and complete transcript of the minutes of a meeting of the governing body of the corporation, and correct and complete copies of all resolutions and other actions taken and of all documents approved by the governing body at the meeting, insofar as they relate to the obligations; and that the meeting was duly held by the governing body at the time and place and was attended throughout by the members indicated above, pursuant to call and notice of such meeting given as required by law. WITNESS my hand officially as such recording officer on August 13, 2013. City Clerk The Mayor stated that this was the time and place for a public hearing to be held on the proposal that the City undertake and finance a project (the "Project') on behalf of PHS WestHealth, Inc., a Minnesota nonprofit corporation (the "Corporation"), pursuant to Minnesota Statutes, Sections 469.152 through 469.165, as amended. The City Clerk presented an affidavit showing publication of the notice of public hearing at least once not less than 14 nor more than 30 days prior to the date fixed for the public hearing, in the Plymouth Sun -,Sailor, the official newspaper of the City of Plymouth, Minnesota (the "City"). The affidavit was examined, found to be satisfactory and ordered placed on file with the City Clerk. The Mayor then opened the meeting for the public hearing on the proposal to undertake and finance the Project on behalf of the Corporation. The purpose of the hearing was explained, the nature of the Project and of the proposed revenue Bonds was discussed, the draft copy of the Application to the Minnesota Department of Employment and Economic Development with draft copies of all attachments and exhibits was available, and all persons present who desired to do so were afforded an opportunity to express their views with respect to the proposal to undertake and finance the Project, in response to which the following persons either appeared, were recognized and made statements, or filed written comments with the City Manager before the date set for the hearing, summaries of which appear opposite their respective names: Name of Speaker Summary of Views None The City Manager reported that no written comments had been filed in his office before the date of the hearing. After all persons who wished to do so had stated or filed their views on the proposal, the Mayor declared the public hearing to be closed. RESOLUTION NO. 2013-269 RESOLUTION GIVING PRELIMINARY APPROVAL TO A PROJECT ON BEHALF OF PHS WESTHEALTH, INC. AND ITS FINANCING UNDER MINNESOTA STATUTES, SECTIONS 469.152 TO 469.165; REFERRING THE PROPOSAL TO THE MINNESOTA DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT FOR APPROVAL BE IT RESOLVED by the City Council of the City of Plymouth, Minnesota (the "City"), as follows: SECTION 1 Recitals and Findings 1.1. This Council has received a proposal that the City, pursuant to Minnesota Statutes, Sections 469.152 through 469.165, as amended (the "Act'), issue its revenue bonds (the "Bonds") for the purpose of financing a portion or all of the cost of a proposed project (the "Project") on behalf of PHS WestHealth, Inc., a Minnesota nonprofit corporation (the "Corporation"), consisting of (a) the constriction and equipping of an approximately 50 -bed skilled nursing facility to be located on the WestHealth/Allina Health Campus at 2855 Campus Drive in the City; and (b) the financing of costs of issuance of the Bonds, as hereinafter defined, working capital, capitalized interest, if any, on the Bonds and a reserve fiind, if required for the Bonds. 1.2. At a public hearing, duly noticed and held on the date hereof, in accordance with Section 469.154, Subdivision 4 of the Act and Section 147(f) of the Internal Revenue Code of 1986, as amended, on the proposal to undertake and finance the Project, all parties who appeared at the hearing were given an opportunity to express their views with respect to the proposal to undertake and finance such project and interested persons were given the opportunity to submit written comments to the City Manager before the time of the hearing. 1.3. The City hereby finds the following: a) Based on the public hearing, such written comments (if any) and such other facts and circumstances as the Councilmembers deem relevant, the Council finds that it would be desirable and would fiirther the purposes of Minnesota Statutes, Section 469.152, for the City to finance the costs of the Project under the provisions of the Act in the maximum aggregate face amount of $14,500,000, by issuing the Bonds. The City is authorized to issue the Bonds. b) The Project would not be undertaken but for the availability of Industrial Development bond financing under the Act. SECTION 2 Determination To Proceed with the Project and Its Financing 2.1. Preliminary Approval. It is hereby determined to give preliminary approval to the issuance and sale of the Bonds in one or more series pursuant to the Act to finance all or a portion of the costs of the Project. Notwithstanding the foregoing, however, the adoption of this Resolution shall not be deemed to establish a legal obligation on the part of the City or its Council to issue or cause the issuance of such Bonds. 2.2. Conditions to Issuance. All details of the Bonds and the provisions for payment thereof shall be subject to final approval of the Project by the Minnesota Department of Employment and Economic Development (the "Department") and are subject to such further conditions as the City may specify. 2.3. Approval of Application. The Application to the Department (the "Application"), with attachments, is hereby approved, and the Mayor and City Clerk are authorized to execute said documents on behalf of the City. In accordance with Section 469.154, Subdivision 3 of the Act, the Mayor and City Clerk are hereby authorized and directed to cause the Application to be submitted to the Department for approval of the Project. The Mayor and City Clerk and other officers, employees and agents of the City are hereby authorized and directed to provide the Department with any information needed for this purpose. 2.4. Costs. The Corporation has agreed to pay directly or through the City any and all costs incurred by the City in connection with the Project, including the City's fee, whether or not the Project is carried to completion and whether or not the Bonds are issued. 2.5. Ongoing Compliance. The Mayor and City Manager are directed, if the Bonds are issued and sold, thereafter to comply with the provisions of Section 469.154, Subdivisions 5 and 7 of the Act. Upon vote being taken thereon, the following voted in favor thereof: All members voted in favor. and the following voted against the same: whereupon the resolution was declared duly passed and adopted. 2