HomeMy WebLinkAboutCity Council Resolution 2014-056CITY OF PLYMOUTH
RESOLUTION No. 2014-056
A RESOLUTION APPOINTING HENNEPIN COUNTY, MINNESOTA
AS AGENT WITH RESPECT TO A PUBLIC HEARING REGARDING
DEVELOPMENTS AND THE ISSUANCE OF REVENUE OBLIGATIONS
FOR THE BENEFIT HOMEWARD BOUND, INC.
WHEREAS, Homeward Bound, Inc., a Minnesota nonprofit corporation (the
"Borrower"), owns and operates the following housing facilities for the disabled located at 4300
Lake Drive, Robbinsdale, Minnesota; 3300 Fountain Lane, Plymouth, Minnesota; 315 Saratoga
Lane North, Plymouth, Minnesota; 13522 Sunset Trail, Plymouth, Minnesota; 305 Althea Lane,
Hopkins, Minnesota; 4213 Zealand Avenue North, New Hope, Minnesota; 3009 Atwood
Avenue, Minnetonka, Minnesota; 4025 Jersey Avenue North, Crystal, Minnesota; 3535 June
Avenue North, Crystal, Minnesota; 5720 43rd Avenue North, Crystal, Minnesota; 3529 Lee
Avenue North, Crystal, Minnesota; 6809 36t1' Avenue North, Crystal, Minnesota; 4155 Webster
Avenue South, St. Louis Park, Minnesota; 6452 Bluebird Circle, Maple Grove, Minnesota; 6769
East Fish Lake Road, Maple Grove, Minnesota; 7324 Noble Court, Brooklyn Park, Minnesota;
7839 Brooklyn Boulevard, Brooklyn Park, Minnesota; 1629 Independence Avenue North,
Golden Valley, Minnesota (the "Existing Facilities"); and
WHEREAS, the Borrower has proposed that the City of New Hope, Minnesota (the "City
of New Hope") issue revenue obligations (the "Notes") for the benefit of the Borrower in order
to (i) refinance one or more 30 -year HUD loans for the Borrower's Existing Facilities; and (ii)
finance the acquisition of land and the acquisition, constriction, and equipping of a new facility
proposed to be located in Golden Valley, Minnesota (the "New Facility," and collectively with
the Existing Facilities, the "Project"); and
WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986, as
amended (the "Code"), Minnesota Statutes, Chapter 462C, as amended (the "Act"), and
Minnesota Statutes, Sections 471.59 and 471.656, as amended, prior to the issuance of the Notes
by the City of New Hope, each city in which the Project is located is required to conduct a public
hearing on the Project, a housing program in accordance with the Act, and the issuance of the
Notes; and
WHEREAS, pursuant to Section 5f.103 -2(d) of the Code, the public hearings may be
combined into one public hearing as long as the combined public hearing is a joint undertaking
which would provide all of the residents of each city a reasonable opportunity to be heard; and
WHEREAS, the Cities of Golden Valley, Crystal, Robbinsdale, Plymouth, Hopkins,
Minnetonka, St. Louis Park, Maple Grove, and Brooklyn Park, Minnesota (the "Participant
Cities") desire to designate Hennepin County, Minnesota ("Hennepin County") as the agent
responsible for conducting the required public hearing, in accordance with Section 5f.103 -2(d) of
the Code;
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF
THE CITY OF PLYMOUTH, MINNESOTA that the designation of Hennepin County as the
agent for purposes of conducting a public hearing with respect to the Project, the housing
program, and the issuance of the Notes is hereby approved.
ADOPTED by the City Council this 11th day of February, 2014.
STATE OF MINNESOTA)
COUNTY OF HENNEPIN) SS.
The undersigned, being the duly qualified and appointed City Clerk of the City of Plymouth,
Minnesota, certifies that I compared the foregoing resolution adopted at a meeting of the
Plymouth City Council on -February 11, 2014, with the original thereof on file in my office, and
the same is a correct transcription thereof.
WITNESS my hand officially as such City Clerk and the Corporate seal of the City this day
of
City Clerk