HomeMy WebLinkAbout2003-128 CCRMember Kathleen Carmody introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2003-128
RESOLUTION CALLING FOR A PUBLIC HEARING ON THE ISSUANCE OF
HEALTH FACILITIES REVENUE BONDS GROUP HEALTH PLAN INC.
PROJECT
WHEREAS, Group Health Plan Inc., a Minnesota nonprofit corporation (the
"Borrower"), a subsidiary of Health Partners, Inc., has proposed that the Minneapolis Community
Development Agency and the Housing and Redevelopment Authority of the City of Saint Paul,
Minnesota (collectively, the "Issuer"), jointly issue revenue bonds (the "Revenue Bonds") to finance
a project (as defined), a portion of which is located in the City of Brooklyn Center, Minnesota (the
"City"); and
WHEREAS, the Project to be financed by the Revenue Bonds includes the financing
or refinancing of various capital expenditures made by the Borrower at facilities owned or operated
by the Borrower and located in various municipalities in the State of Minnesota, and the refunding of
the Issuer's Outstanding Health Care Facility Revenue Bonds, Series 1992 (Group Health Plan, Inc.,
Project); and
WHEREAS, the City has been advised that a public hearing and City Council
approval of the financing of the Project is required under Section 147(f) of the Internal Revenue
Code because a portion of facilities to be financed or refinanced by the Revenue Bonds are located in
the City.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Brooklyn
Center as follows:
1. A public hearing on the proposal of the Borrower will be held at the time and place
set forth in the Notice of Hearing hereto attached as Exhibit A. The general nature of the Project and
an estimate of the aggregate principal amount of revenue bonds or other obligations to be issued to
finance the Project are described in the Notice of Hearing.
2. The Borrower shall cause notice of the hearing to be given one publication in the
official newspaper and newspaper of general circulation available in the City, not less than 14 days
nor more than 30 days prior to the date fixed for the hearing, substantially in the form of the attached
Notice of Hearing.
August 25, 2003
ate Mayor U
ATTEST: -%~WA t .
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Kay Lasman
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: none;
whereupon said resolution was declared duly passed and adopted.