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RESOLUTION NO. 2002-38 <br />RESOLUTION RELATING T( <br />FACILITIES OWNED AND OPE: <br />NONPROFIT CORPORATION,. <br />BONDS TO FINANCE THE CO' <br />STATUTES, CHAPTER 462C, ) <br />STATUTES, SECTIONS 469.152 - <br />TO A JOINT POWERS AGREE <br />APPROVAL THERETO; ES � <br />CERTAIN REIMBURSEMENT <br />INTERNAL REVENUE CODE C <br />APPROVAL FOR ENTERING I; <br />AND TAKING CERTAIN O' <br />THERETO <br />BE IT RESOLVED by the City <br />"City"), as follows: <br />Section 1. Recitals. <br />1.01. The City is a statutory <br />Constitution and laws of the State of M <br />RESIDENTIAL GRC <br />TED BY FRASER, A h <br />D THE ISSUANCE O <br />THEREOF UNDER N <br />AMENDED, AND b <br />1.165, AS AMENDED, <br />?NT; GRANTING PR <br />REGULATIONS UP <br />F 1986, AS AMENDED; <br />F0 A JOINT POWERS A <br />ER ACTIONS WTI] <br />1.02. Pursuant to Minnesota StE <br />Minnesota Statutes, Sections 469.152 - 469.1 <br />City is authorized to carry out the public pt <br />the issuance of revenue bonds to provi <br />developments and revenue producing 6ntej <br />1.03. Fraser, a Minnesota nonpr( <br />that the City, pursuant to the Act, authp <br />Blaine") to issue revenue bonds of the <br />principal amount not to exceed $4,0005 <br />time to time (the "Bonds"), the proceeds <br />the Company to be applied by the Coml <br />of twenty-two residential group home i <br />the City, the City of Blaine, and in the <br />Golden Valley, Minnetonka, Plymouth a <br />City of Minneapolis, the "Participant <br />located at 5617 Hansen Road, 5004 Edint: <br />of <br />Ci <br />finance the costs of the rehabilitation of the <br />of the City of <br />duly organized and <br />.tes, Chapter 462C, <br />, as amended, (collect <br />)oses described in the <br />funds to finance r <br />-ises located within th <br />UP HOME <br />INNESOTA <br />REVENUE <br />INNESOTA <br />INNESOTA <br />'URSUANT <br />;LIMINARY <br />[CE WITH <br />DER THE <br />RANTING <br />;REEMENT, <br />RESPECT <br />Minnesota (the <br />existing under the <br />as amended, and <br />vely, the "Act"), the <br />kct by providing for <br />tultifamily housing <br />City. <br />corporation (the "Com any") has proposed <br />the City of Blaine, Mh nesota (the "City of <br />ty of Blaine in the approximate aggregate <br />in one or more series it one time or from <br />which will be loaned by the City of Blaine to <br />y to: (i) refinance the costs to the Company <br />hies (collectively, the Project") located in <br />es of Brooklyn Park, Eden Prairie, Edina, <br />Richfield (collectively with the City and the <br />'es"), including the group home facilities <br />k Lane, and 6708 Sioux Trail in the City; (ii) <br />residential group home facilities comprising <br />