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HomeMy WebLinkAboutResolution No. 2017-144 Reissuance of G.O. Bonds Series 2012C and 2017DDebra Mangen, City Cler CERTIFICATION OF MINUlES RELATING TO $2,100,000 GENERAL OBLIGATION BONDS, SERIES 2012C AND $1,640,000 GENERAL OBLIGATION RECREATIONAL REVENUE REFUNDING BONDS, SERIES 2017D Issuer: City of Edina, Minnesota Governing Body: City Council Kind, date, time and place of meeting: A regular meeting held on December 19, 2017 at 7:00 o'clock P.M., at the City Hall, Edina, Minnesota. Members present: 7eYri nd le_ , F Members absent: kr-) ---)+11_1,A__/-1 STapet._{± ) 140V I ad --)C1.- Documents Attached: RESOLUTION NO. 2017-144 RESOLUTION AUTHORIZING THE REISSUANCE, OF $2,100,000 GENERAL OBLIGATION BONDS, SERIES 2012C AND THE ISSUANCE OF $1,640,000 GENERAL OBLIGATION RECREATIONAL REVENUE REFUNDING BONDS, SERIES 2017D I, the undersigned, being the duly qualified and acting recording officer of the public corporation issuing the bonds referred to in the title of this certificate, certify that the documents attached hereto, as described above, have been carefully compared with the original records of said corporation in my legal custody, from which they have been transcribed; that said documents are a correct and complete transcript of the minutes of a meeting of the governing body of said corporation, and correct and complete copies of all resolutions and other actions taken and of all documents approved by the governing body at said meeting, so far as they relate to said bonds; and that said meeting was duly held by the governing body at the time and place and was attended throughout by the members indicated above, pursuant to call and notice of such meeting given as required by law. i +14_ WITNESS my hand officially as such recording officer this 19 day of December, 2017. Councilmember Vrirld I-C., then introduced the following resolution and moved its adoption: RESOLUTION NO. 2017-144 RESOLUTION AUTHORIZING THE REISSUANCE OF $2,100,000 GENERAL OBLIGATION BONDS, SERIES 2012C AND THE ISSUANCE OF $1,640,000 GENERAL OBLIGATION RECREATIONAL REVENUE REFUNDING BONDS, SERIES 2017D BE IT RESOLVED by the City Council of the City of Edina, Minnesota (the "City"), as follows: SECTION 1. Recitals. 1.1. The Council has received a proposal that the City reissue as qualified 501(c)(3) bonds its General Obligation Bonds, Series 2012C (the "Series 2012C Bonds"), issued and outstanding in the principal amount of $2,100,000 and dated, as originally issued, as of October 10, 2012. The City further proposes to issue, and has previously authorized the sale of, its General Obligation Recreational Revenue Refunding Bonds, Series 2017D (the "Series 2017D Bonds"), in the principal amount of $1,640,000. The Series 2012C Bonds are proposed to be reissued, and the 2017D Bonds are proposed to be issued, pursuant to the requirements of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (the "Code"), for the purpose of financing or refinancing a portion of the cost of the construction of improvements to the Braemar Ice Arena (the "Project"). The Project is expected to be used by the general public, the City and qualified 501(c)(3) organizations. 1.2. At a public hearing, duly noticed and held on the date hereof, in accordance with Section 147(f) of the Code on the proposal to reissue the Series 2012C Bonds and issue the 2017D Bonds as qualified 501(c)(3) bonds, all parties who appeared at the hearing were given an opportunity to express their views with respect to the proposal, and interested persons were given the opportunity to submit written comments to the City Clerk before the time of the hearing. SECTION 2. FINDINGS AND APPROVAL. The City hereby finds and resolves that: based on the public hearing, such written comments (if any) and such other facts and circumstances as the City Council deems relevant, the City Council finds that it would be desirable and in the best interest of the City to reissue the Series 2012C Bonds and issue the Series 2017D Bonds as qualified 501(c)(3) bonds pursuant to the provisions of the Code. SECTION 3. Information Required. The City Clerk and other officers of the City are authorized and directed to prepare and furnish to bond counsel to the City certified copies of all proceedings and records of the City relating to the reissuance of the Series 2012C Bonds and issuance of the 2017D Bonds as qualified 501(c)(3) bonds, and such other affidavits and certificates as may be required to show the facts appearing from the books and records in the officers' custody and control or as otherwise known to them; and all such certified copies, certificates and affidavits, including any heretofore furnished, shall constitute representations of the City as to the truth of all statements contained therein. Adopted this 19th day of December, 2017. Attest: City Clerk )7/ The motion for the adoption of the foregoing resolution was duly seconded by and upon vote being taken thereon, the following voted in favor thereof: .15 Ft and the following voted against the same: whereupon said resolution was declared duly passed and adopted.