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Home My WebLink AboutCity Council Resolution 1994-237et RFSOI 10N ND. 94-237 CIfRTMCATION OF bCDCUTES RELATING TO HEALTHCARE FACILr= REVENUE BLOND$ (l WIUON FARbU NURSING HOAR PROJECT) SERIES IM Luer. City or Plymouth, Minnesota Governing Body: City Council Rind, date, time and place of meeting: A regular meeting, held on Ancil 189 19940 at 7: on otdodt p.m., at the City Hall. Members present: Anderson, Morrison, Lymangood, Helliwell, Granath, Tierney, Edson. Members absent: None Documents Attached: Minutes of said meeting (pages): REBOW77ON RELATINO TO A PROJECT ON BEHALF OF MISSION FARM NURSING HOME, INC. UNDER THE MINNESOTA MUNICIPAL INDUSTRIAL DEVELOPMENT ACT CALLING FOR A PUBLIC HEARING T HEFMN I, the undenigned, being the duly qualified and acting recording officer of the public corpomdon referred to in the title of this certificate, certify that the documents attached hereto, as described above, have been carefully compared with the original records of the corporation in my legal custody, (bom which they have been transcribed; that the documents are a correct and complete transcript of the minutes of a meeting of the governing body or the corporation, and correct and complete copies or all trsolutions 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 hold by the governing body at the time and place and was attended throughout by the members Indicated above, pursuant to call and notice or such meeting given as required by law. WITNESS my hand oflidally as such recording officer and the seal or the City this Aelhday or April, 1994. aMa- City Clerk 0 Councilme nber Bdsm► introduced the following resolution and moved its adoption: RESOLUTION NO. 94-237 RESOLUTION RELATING TO A PRQjECT ON M MF OF MISSION FARM NURSING HOM$ INC. UNDER THE MINNESOTA MUNICIPAL INDUSTRIAL DEVSUIPMBNT ACI; CALLINO FOR A PUBLIC HEARING THEREON BE T'C RESOLVED by the City Council of the City of Plymouth, Mumewta (the "City', n followst I.I. Mission Farm Nursing Home, Inc., a Wmnesota non-profit corporation (the 'Borrower"), has advised this Council of its desire to finance the construction and equipping of a 104• licensed bed nursing facility (the "Prgject'to be owned and operated by the Borrower. The Ptojea will be located at 3401 Bast Medicine Lake Boulevard in the City. 1.2. The City is authorized by Minnesota Statutes, Section 469.152 through 469.165 (the "Act"), to ince its revenue bonds to finance capital projects consisting of properties aced and useful in connection with a revenue-producing enterprise, whether or not operated for profit, engaged in providing health care services, including hospitals, nursing homes, and related medical facilities. The Borrower has requested the City to issue its revenue bonds in an aggregate total amount estimated not to exceed =5.600,000 (the "Bonds") to finance a portion or all of the cost of the Prgject. 9J." 2401 2.1. Section 469.154, Subdivision 4 of the Act requires that prior to submission of an Application to the Minnesota Department of Trade and Econmric Development requesting approval of the Project as required by Section 469.154, Subdivision S of the Aa. this Council conduct a public hearing on the proposal to undertake and finance the "ca. Section 147(f) of the Internal Revenue Code of 1986, as amended and regulation promulgated thereunder, requires that prior to the issuance of the Bonds, this Council approve the Bonds and the Project, after conducting a public hearing thereon. A poiblic hearing on the proposal to undertake and finance the Project is hereby celled and shall be held on May 16, 1994, at 7.00 ocdock p.m., at the City Hall. 2.2. 'IUe City Clerk shall cause notice of the public hearing to be published in ftlaWk &L-A&UM the official newspaper of the City and a newspaper of general circulation in the City, at least one not leu than fifteen (15) days prior to the date 0t:d for the public heating. The notice to be published shall be in substantially the following form: -2- 2.2. A draft copy of the proposed Application to the Minnesota Department of Trade and Economic Development, together with draft copies of all attachments and exhibits thereto, are hereby ordered placed on file with the City Clerk and shall be available for public inspection, fo0owing publication of the notice of public hearing, between during normal business hours, WO A.M. to 4-.10 P.AL, on normal business days. U. upon compliance by the Borrower with the City's application procedures for financing under the Act, the City Manager is hereby authorized and directed to take all steps necessary and dub" to complete the preparation of the Application to the Alinnesota Department of Trade and Eeoaomic Development for the Project and the financing therefor. LL ru actions expressed hereby shall not be deemed to obligate the City to take my Anther favorable action for the iguana of the Bonds or to bind the City to issue the Bonds. The Issuance of the Bonds shall be subject to a final authorising resolution by the City Council in its sole discretion and approval by the City of the temw of the Bonds and the documents in connection therewith. I%c City may, in its sok discretion, determine at any time to not issue the Bonds and in any event the Borrower shall be responsible to reimburse the City for all cow incurred by the City in connection with the actions taken by the City in furtherance of the issuance of the Bonds and the financing of the Project. Adopted by the City Council of the City of Plymouth on this 18th day of April, 1994. 7�� Attest: City Clerk /s/ Joycelyn H. Tierney Mayor The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Andersen and upon vote being taken thereon, the following voted in favor thereof: Anderson, Morrison, Lymangood, Helliwell, Granath, Edson, Tierney and the following voted against the sone: Mone. whereupon the resolution was declared duly passed and adopted and was approved and sighed by the Mayor, whose signature was attested by the City Clerk. -4- • NOTICE OF PUBLIC HBARWO ON A PROPOM PROJECT AND THE IWANCE OF HEALTH CARE FACQdTY REVENUE BONDS UNDER THE &GNNESOTA MUNIC PAL WDIIfIi'I'RIAL DEVELOPMENT ACT, MlINNESOTA STATI)TES, SECTIONS 469.132.469.10 NOTICE 18 HERM GIVEN that the City Council of the City of Plymouth, Minnesota (the "(sty', will meet an Mar 16, 1994, at 7:00 o'dock p.m., at the City Har, 3400 Plymouth Bouk%wd, in the City, for the pttrpoee of conducting a public hewing an a proposal that the City issue nnugmw bonds, in one or more sarin, under the Minnesota Municipal Indust W Development Act, Minnesota Statutes, Sections 469.132 through 469.163, in order to finance a project an behalf of Mission Farm Nursing Home, Inc, a Minnesota non-profit corporation (the "Borrower' j. The Proposed p gject will consist of the eooserttction and equipping of a 10"censed bed nursing facility (cite Mhoject') to be owned and operated by the Borrower. The Project will be located at 3401 Bot Medicine Labe Boulevard in the City. The maximum aggregate principal amount of the proposed n:veaue bond issue to finance the Project is estimated not to exceed 33,600,000. The bonds will be Waited obligations of the City, and the bonds and interest thereon will be payable solely from the revenues pledged to the payment thereof. No bolder of any bonds will ever have the right to compel any exercise of the wring power or the City to pay the bonds or the interest thereon, nor to erdorce payment against any property of the City except money payable by the Borrower to the City and pledged to the payment of the bonds. A draft Dopy of the proposed Application to the Minnesota Department of Trade and Economic Development for approval of the Project, together with draft con of all attachments and exhibits thereto, is available for public inspection at the office of the City Clerk during business hours, 8:00 A.M. to 4:30 P.M., on normal business days. All persons interested may appear and be heard at the time and place on forth above, or may file written comments with the City Clerk prior to the date of the hearing set forth above. Dated: April 27, 1994. BY ORDER OF THE CITY COUNCIL By: -3- City Clerk