HomeMy WebLinkAboutResolution No. 2005-019 Public Hearing on Issuance of Rev Bonds -- Mpls for Fairview 4/5/05 RESOLUTION NO. 2005-19
w91iA, CALLING FOR A PUBLIC HEAIRNG ON AN ISSUE
o e 7,0 OF REVENUE BONDS BY CITY OF MINNEAPOLIS
o ON BEHALF OF FAIRVIEW HEALTH SERVICES
•!n YAPUli�lEO
City of Edina
BE IT RESOLVED by the City Council of the City of Edina, Minnesota (the City),
as follows:
1. Fairview Health Services, a Minnesota nonprofit corporation("Fairview"),has
advised this Council of its desire to finance the remodeling of portions of Fairview Southdale
Hospital in the City, and the acquisition and installation of items of equipment therein and the
refunding of the Health Care System Revenue Bonds, Series 1997 (Fairview Hospital and
Healthcare Services) and the Health Care System Revenue Bonds, Series 2000A (Fairview
Health Services) of the Minnesota Agricultural and Economic Development Board with revenue
bonds (the "Revenue Bonds") issued by the City of Minneapolis under the authority of
Minnesota Statutes,Sections 469.152 through 469.165.
2. Since the facilities proposed to be financed or refinanced by the Revenue
Bonds are located in the City, 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 the City of Minneapolis,
after conducting a public hearing thereon. A public hearing on the proposal that the City of
• Minneapolis issue the Revenue Bonds to finance the Project is hereby called and shall be held
on April 5,2005,at 7:00 o'clock P.M., at the City Hall.
3. 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.
Adopted by the City Council of the City of Ed' a is 15th day of March,2005.
F
Attest
Debra A. Mangen,City Gerk V James B. Hovland,Mayor
STATE OF MINNESOTA )
COUNTY OF HENNEPIN ) SS
CITY OF EDINA ) CERTIFICATE OF CITY CLERK
I,the undersigned duly appointed and acting City Clerk for the City of Edina do hereby certify that the
attached and foregoing Resolution is a true and correct copy of the Resolution duly adopted by the Edina
City Council at its regular meeting of March 15,2005,and as recorded in the Minutes of said regular
meeting.
WITNESS,my hand and seal of said City this day of —2005.
Debra A. Mangen,City Clerk
City Hall 952-927-8861
4801 WEST 50TH STREET FAX 952-826-0390
EDINA, MINNESOTA, 55424-1394 www.cityofedina.com TTY 952-826-0379
EXHIBIT A
CITY OF EDINA
4801 WEST 50TH STREET
EDINA,MINNESOTA 55424
NOTICE OF PUBLIC HEARING ON
THE ISSUANCE OF REVENUE BONDS
UNDER MINNESOTA STATUTES,
SECTIONS 469.152-469.165
NOTICE IS HEREBY GIVEN that the City Council of the City of Edina,
Minnesota (the City), will meet on April 5, 2005, at 7:00 o'clock P.M., at the City Hall,4801 West
50th Street, in Edina, Minnesota, for the purpose of conducting a public hearing on a proposal
that the City of Minneapolis, Minnesota (Minneapolis) issue revenue bonds (the Revenue
Bonds) on behalf of Fairview Health Services (the Corporation), in one or more series, under
Minnesota Statutes, Sections 469.152 through 469.165, in order to finance the remodeling of
Fairview Southdale Hospital, located at 6401 France Avenue South in the City of Edina, and the
acquisition and installation of items of equipment therein, and to refund two series of bonds
issued by the Minnesota Agricultural and Economic Development Board a portion of the
proceeds of which financed improvements to Fairview Southdale Hospital and the acquisition
of items of equipment therein. Fairview Southdale Hospital is owned and operated by the
Corporation. The maximum aggregate principal amount of the proposed Revenue Bonds to be
issued to finance the remodeling to be undertaken at Fairview Southdale Hospital is
$35,000,000. The Revenue Bonds will not be issued by the City.
All persons interested may appear and be heard at the time and place set forth
above, or may file written comments with the City Clerk prior to the date of the hearing set
forth above.
Dated: March 15,2005.
BY ORDER OF THE CITY COUNCIL
Debra Mangen,City Clerk