HomeMy WebLinkAboutResolution No. 2002-029 Hearing Date -- Revenue Notes/Blaine/FraserRESOLUTION NO. 2002-29
RESOLUTION CALLING l
PROPOSED ISSUANCE OF
CITY OF BLAINE, MINNE
STATUTES, CHAPTER 41
SECTIONS 469.152 - 461.
FINANCE PROPERTY FOR
BE IT RESOLVED by the City Coun,
Council shall conduct a public hearing on t
Minnesota of revenue notes to refinance and
for the benefit of Fraser, a Mirulesota nonpi
Statutes, Chapter 462C, as amended (the "
Council at City Hall, 4801 W. 50th Street, Edi
16, 2002. The portion of the Project propose(
form of Notice of Public Hearing attached hE
The City Clerk is authorized and directed
published once, at least 14 days prior to the d
Adopted: March 19, 2002
NOTICE OF PUBLIC HEARI
REVENUE BONDS TO FIT
HOUSING AND HEALTH
PROPOSED HOUSING PROG
CITY OF EDINi
NOTICE IS HEREBY GIVEN that
Minnesota (the "City"), will meet on Tues
Hall, 4801 W. 50th Street, in Edina, Minnes
hearing on a proposal that the City: (i) giv
bonds, notes, or other obligations (the "Boi
"Issuer") pursuant to Minnesota Statutes,
469.152 - 469.165, as amended, a portion c
applied to finance and refinance a project
Fraser, a Minnesota non-profit corporation
Agreement with the Issuer; and (iii) adopt a
with respect to the housing project hereinaft
The Project to be located in the City
proceeds of the Bonds proposed to be issu,
City Hall
4801 WEST 50TH STREET
EDINA, MINNESOTA 55424-1394
City of Edina
ELIC HEARING ON THE
REVENUE NOTES B THE
1TA UNDER MINNESOTA
AS AMENDED, AND
55, AS AMENDED, TO
[E BENEFIT OF FRASER
1 of the City of Edina, Minnesota, that the
e proposed issuance by the City of Blaine,
2habilitate residential group home facilities
)fit corporation, pursuant to the Minnesota
,ct"). The hearing will e held by the City
a, Minnesota, at 7:00 p.m. on Tuesday, April
to be located in the City is described in the
eto as Exhibit A, which is hereby approved.
cause the Notice ofP blic Hearing to be
Le of the hearing.
SIT A
1G ON THE ISSUANCE OF
f ANCE AND REFINANCE
:ARE FACILITIES AND A
ZAM (FRASER PROJECT)
, MINNESOTA
the City Council of the City of Edina,
ay, April 16, 2002 at 7:00 p.m. at the City
rta for the purpose of clonducting a public
host approval to the issuance of revenue
.ds") by the City of Blaine, Minnesota (the
Chapter 462C, as ameAded, and Sections
which in the amount pf $480,000 will be
hereinafter described tc be undertaken by
the "Borrower"); (ii) execute a Joint Powers
housing program (the "Housing Program")
!r described (the "Project").
ind to be financed andefinanced with the
d by the Issuer is com rised of residential
(612) 927-8861
FAX (612) 826-0390
TDD (612) 826-0379
group home facilities located at 5617 Hans n Road, 5004 Edinbro�k Lane, and 6708
Sioux Trail in the City of Edina.
The Issuer will apply the proceeds f the Bonds to finance and refinance the
Project and other housing developments (the "Developments") locat in the Issuer and
several other cities in the State of Minnes ta. The maximum a gregate estimated
principal amount of the Bonds to be issuedy the Issuer to finance and refinance the
Project and the other Developments is $41,00 000. The Borrower wil be the owner and
operator of the Project and the other Deyelo ments. The Borrower, ill be the obligor
under the Bonds. The Project and the tithe Developments will b managed by the
Borrower.
The Bonds, as and when issued, will n t constitute a charge, lin or encumbrance
upon any property of the City, except the ' terest of the City in t e Project and the
revenues to be derived from the Project, Th Bonds will not be a harge against the
general credit or taxing powers of the City o the Issuer, but are pay ble from sums to
be paid by the Borrower pursuant to a revvenu agreement.
At the time and place fixed for the p lic hearing, the City C uncil of the City
will give all persons who appear at the bear' g an opportunity to a press their views
with respect to the financing of the Project p rsuant to the Housing rogram. Written
comments will be considered if submitte at e above City office on r before the date
of the hearing.
BY ORDER OF THE EDINA CITY CO NCIL
ATTEST: AWW11i
City Clerk
STATE OF MINNESOTA )
COUNTY OF HENNEPIN )SS
CITY OF EDINA )
I, the undersigned duly appointed and acting ity Clerk for the City of dina do hereby
certify that the attached and foregoing Resblut on was duly adopted b the Edina City
Council at its Regular Meeting of march 19,11200 , and as recorded in th Minutes of said
Regular Meeting.
WITNESS my hand and seal of said City this
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