HomeMy WebLinkAbout2003-145 CCRMember Kay Lasman introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2003-145
RESOLUTION GIVING HOST APPROVAL TO THE ISSUANCE OF HEALTH
CARE FACILITIES REVENUE BONDS, SERIES 2003 (GROUP HEALTH PLAN,
INC. PROJECT)
WHEREAS, Group Health Plan, Inc., a Minnesota nonprofit corporation ("Group
Health"); currently operates facilities located at 6845 Lee Avenue North in the City of Brooklyn
Center (the "Local Facilities").
WHEREAS, Group Health has proposed that the Housing and Redevelopment
Authority of the City of Saint Paul, Minnesota and the City of Minneapolis, Minnesota, jointly issue
Health Care Facility Revenue Bonds in the approximate principal amount of $85,000,000 (the
"Bonds") to finance or refinance various capital expenditures made by Group Health in
approximately 9 cities located throughout the State of Minnesota, including the Local Facilities.
WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended,
requires that each municipality in which facilities to be financed or refinanced by the Bonds are
located must approve the issuance of the Bonds following a public hearing.
WHEREAS, a public hearing on the issuance of the Bonds to finance or refinance
capital costs incurred at the Local Facilities was held by the City on this date.
WHEREAS, the Bonds are payable solely from revenues of Group Health, will not be
a general or moral obligation of the City of Brooklyn Center, the Housing and Redevelopment
Authority of the City of Saint Paul, the City of Minneapolis or any other political subdivision but
will be payable solely from revenues of Group Health to the extent and in the manner provided in the
documents executed in connection with the issuance of the Bonds.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center that the City hereby gives the host approval required under the Internal Revenue
Code to the issuance of the Bonds.
September 22, 2003
ate Mayor
ATTEST:
City Clerk
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 Tasman, Diane Niesen, and Bob Peppe;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.
RESOLUTION NO. 2003-145
STATE OF MINNESOTA )
SS
COUNTY OF HENNEPIN )
CITY OF BROOKLYN CENTER )
I, the undersigned, being the duly qualified Clerk of the City of Brooklyn Center,
Minnesota, do hereby certify that I have carefully compared the attached and foregoing copy of
Resolution No. 2003-145 of the said City of Brooklyn Center with the original thereof on file in
my office, and the same is a full, true and complete copy of said Resolution No 2003-145
WITNESS MY HAND as such Clerk this 23`d day of September, 2003.
1'
W.aayv~n&K
City Clerk