HomeMy WebLinkAbout2005-166 CCRMember Kay Lasman introduced the following resolution and moved
its adoption:
RESOLUTION NO. 2005-166
RESOLUTION CALLING FOR A PUBLIC HEARING ON THE ISSUANCE OF A
HEALTH CARE FACILITIES REVENUE NOTE AND AUTHORIZING THE
PUBLICATION OF A NOTICE OF THE HEARING
WHEREAS, Minnesota Statutes, Sections 469.152 through 469.1651, relating to
municipal industrial development (the "Act"), gives municipalities the power to issue revenue
obligations for the purpose of providing necessary health care facilities so that adequate health care
services are available to residents of the State at reasonable cost; and
WHEREAS, the City Council of the City of Brooklyn Center, Minnesota (the "City"),
has received from Maranatha Conservative Baptist Home, Inc., a Minnesota nonprofit corporation
(the "Corporation"), a proposal that the City assist in financing a Project hereinafter described,
through the issuance of a revenue note or obligations (in one or more series) (the "Note") pursuant to
the Act; and
WHEREAS, before proceeding with consideration of the request of the Corporation it
is necessary for the City to hold a public hearing on the proposal pursuant to the Act:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center, Minnesota, as follows:
A public hearing on the proposal of the Corporation will be held at the time
and place set forth in the Notice of Public Hearing hereto attached.
2. The general nature of the proposal and an estimate of the principal amount of
Note to be issued to finance the proposal are described in the attached form of
Notice of Public Hearing.
3. The City Manager is hereby authorized and directed to cause notice of the
hearing to be given one publication in the official newspaper of the City and a
newspaper of general circulation available in the City, not less than 15 days
nor more than 30 days prior to the date fixed for the hearing, substantially in
the form of the attached Notice of Public Hearing with such changes as
required or approved by Bond Counsel.
I
RESOLUTION NO. 2005-166
November 14, 2005
Date
ATTEST:
City Clerk
U Maydq
The motion for the adoption of the foregoing resolution was duly seconded by member
Kathleen Carmody
and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Kathleen Carmody, Kay Lasman, and Diane Niesen;
and the following voted against the same: Mary O'Connor;
whereupon said resolution was declared duly passed and adopted.
RESOLUTION NO. 2005-166
NOTICE OF PUBLIC HEARING ON A PROPOSAL FOR
THE ISSUANCE OF REVENUE NOTES
TO WHOM IT MAY CONCERN:
Notice is hereby given that the City Council of the City of Brooklyn Center, Minnesota, will
meet at the City Hall, 6301 Shingle Creek Parkway, in the City of Brooklyn Center, Minnesota (the
"City"), at 7:00 p.m. on Monday, December 12, 2005, to consider the proposal of Maranatha
Conservative Baptist Home, Inc., a Minnesota nonprofit corporation (the "Borrower"), that the City
assist in financing a project hereinafter described pursuant to Minnesota Statutes, Sections 469.152
to 469.165 1, by the issuance of a revenue note or notes (the "Notes").
The "Project" consists of the acquisition of an approximately 44,800 square foot skilled
nursing facility, currently licensed for 97-beds, located at 5401 69th Avenue North in the City. The
Project will be owned and operated by the Borrower.
The maximum aggregate estimated principal amount of the Note or other obligations to be
issued in one or more series to finance the Project will be $4,000,000.
The Note or other obligations, as and when issued, will not constitute a charge, lien or
encumbrance upon any property of the City, or its housing and redevelopment authority, except the
Project and the revenues to be derived from the Project. Such Note or obligations will not be a
charge against the City's general credit or taxing powers but are payable from sums to be paid by the
Borrower pursuant to a revenue agreement.
At the time and place fixed for the public hearing, the City Council of the City will give all
persons who appear at the hearing an opportunity to express their views with respect to the proposal.
Written comments will be considered if submitted at the above City office on or before the date of
the hearing.
BY ORDER OF THE CITY COUNCIL OF
THE CITY OF BROOKLYN CENTER,
MINNESOTA
By Michael McCauley
Its City Manager