HomeMy WebLinkAboutResolution No. 2015-059 Calling Public Hearing Fairview Health Services w9i�'\l
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Resolution No. 2015-59
RESOLUTION CALLING FOR A PUBLIC HEARING ON AN ISSUE OF
REVENUE BONDS BY CITY OF MINNEAPOLIS ON BEHALF OF
FAIRVIEW HEALTH SERVICES
BE IT RESOLVED by the City Council of the City of Edina, Minnesota(the "City"), as follows:
1. With the approval of this Council and at the request of Fairview Health Services, a Minnesota
nonprofit corporation("Fairview"),the Minnesota Agricultural and Economic Development Board(the
"Board")has issued its Health Care System Revenue Bonds, Series 1997A(Fairview Hospital and Healthcare
Services) (the"Series 1997A Bonds"), a portion of which were used to refund bonds issued by the City and
finance the acquisition of cooling towers and chillers at Fairview Southdale Hospital, an acute care hospital and
other health care-related facilities located at 6401 and 6400 France Avenue South in the City(the"Edina
Facilities").
2. With the approval of this Council and at the request of Fairview,the Board has also issued its Health
Care System Revenue Bonds, Series 2000A(Fairview Health Services) (the"Series 2000A Bonds"), a portion
of which were used to finance an addition to the Edina Facilities and the acquisition and installation of items of
equipment therein and construction of a new parking ramp to serve the Edina Facilities.
3. With the approval of this Council and at the request of Fairview,the City of Minneapolis
("Minneapolis") issued its Health Care System Revenue Bonds (Fairview Health Services), Series 2005D (the
"2005 Bonds"),to finance the construction of improvements to and remodeling of the Edina Facilities and the
acquisition and installation of items of equipment therein.
4. Fairview has advised this Council of its desire to refund all or a portion of the outstanding Series
1997A Bonds,the Series 2000A Bonds and Series 2005 Bonds (together,the"Refunded Bonds")with revenue
bonds issued by Minneapolis under the authority of Minnesota Statutes, Sections 469.152 through 469.165 (the
"Revenue Bonds").
5. Fairview has also advised this Council of its desire finance a project consisting of, among other
things,the acquisition, improvement and equipping of the Edina Facilities, including the construction of a new
and expanded emergency department(the "Project")with the Revenue Bonds.
6. The portion of the Refunded Bonds allocable to the Edina Facilities and the portion of the
Revenue Bonds allocable to the Project is herein referred to as the"Edina Portion." Section 147(f) of the
Internal Revenue Code of 1986, as amended, and regulations promulgated thereunder,require that prior to the
issuance of the Revenue Bonds,this Council approve the issuance of the Revenue Bonds by Minneapolis after
conducting a public hearing thereon. A public hearing on the proposal that Minneapolis issue the Revenue
Bonds to finance the Edina Portion is hereby called and shall be held on July 7, 2015, at 7:00 P.M., at the City
Hall.
CITY OF EDINA
4801 West 50th Street•Edina,Minnesota 55424
www.EdinaMN.gov•952-927-8861 .Fax 952-826-0389
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7. The City Clerk shall cause notice of the public hearing, in substantially the form attached hereto as
Exhibit A,to be published in a newspaper of general circulation in the City, once not less than 14 days prior to
the date fixed for the public hearing.
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Adopted by the City Council of the City of Edina on this D day of June, 2015.
Approved this 17th day of June, 2015.
Attest: i
Debra A. Mangen, City e k —`-lames B. Hovlan , Mayor
STATE OF MINNESOTA )
COUNTY OF HENNEPIN ) SS
CITY OF EDINA )
CERTIFICATE OF CITY CLERK
1, the undersigned duly appointed and acting City Clerk for the City of Edina do hereby certify that the attached
and foregoing Resolution was duly adopted by the Edina City Council at its Regular Meeting of June 17, 2015
and as recorded in the Minutes of said Regular Meeting.
WITNESS my hand and seal of said City this a day of , 20j:z�.
City Clerk