HomeMy WebLinkAboutResolution No. 2018-068 Fairview Southdale Revenue Bonds Public Hearing C� SSS r
RESOLUTION NUMBER 2018-68
CALLING FOR A PUBLIC HEARING ON AN ISSUE OF REVENUE BONDS
BY THE 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:
I. With the approval of this Council and at the request of Fairview Health Services, a Minnesota
nonprofit corporation ("Fairview"), the City of Minneapolis, Minnesota (the "Issuer") has issued its Health Care
System Revenue Bonds, Series 2008B (Fairview Health Services), its Health Care System Variable Rate Demand
Revenue Bonds, Series 2008C (Fairview Health Services), its Health Care System Variable Rate Demand Revenue
Bonds, Series 2008D (Fairview Health Services) and its Health Care System Variable Rate Demand Revenue
Bonds, Series 2008E (Fairview Health Services) (together, the "Refunded Bonds"), a portion of which were used
to finance and refinance the construction and improvement of Fairview Southdale Hospital and other health
care-related facilities located at 6401 and 6400 France Avenue South in the City (the "Edina Facilities").
2. Fairview has advised this Council of its desire to refund all or a portion of the Refunded Bonds with
revenue bonds issued by Minneapolis under the authority of Minnesota Statutes, Sections 469.152 through
469.165 (the "Revenue Bonds").
3. Fairview has also advised this Council of its desire to finance a project consisting of, among other
things, the acquisition, improvement and equipping of the Edina Facilities, including the replacement of its
fluoroscopy system and improvements to operating rooms (the "Project") with the Revenue Bonds.
4. 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
and refinance the Edina Portion is hereby called and shall be held on September 5, 2018, at 7:00 P.M., at the City
Hall.
5. Bond counsel for the Revenue Bonds 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.
(Signature page to follow)
4823-9540-9390v1 CITY OF EDINA
4801 West 50th Street•Edina,Minnesota 55424
www.EdinaMN.gov•952-927-8861 •Fax 952-826-0390
Adopted by the City Council of the City of Edina on this 8th day of August, 2018.
Attest4
�-- _._..__- -—-
Debra A. Mangen, di erk —mimes 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 August 8, 2018, and as recorded in the Minutes of said regular meeting.
WITNESS, my hand and seal of said City this day of 20
Debra A. Manger, City Clerk
4823-8540-9390\1
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 September 5, 2018 at 7:00 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 (the
"Issuer") issue its revenue bonds (the"Revenue Bonds"), in one or more series, under Minnesota Statutes,
Sections 469.152 through 469.165, as amended, on behalf of Fairview Health Services, a Minnesota
nonprofit corporation ("Fairview"), in order to (a) refund the Issuer's Health Care System Revenue Bonds,
Series 2008B (Fairview Health Services), its Health Care System Variable Rate Demand Revenue Bonds,
Series 2008C (Fairview Health Services), its Health Care System Variable Rate Demand Revenue Bonds,
Series 2008D (Fairview Health Services) and its Health Care System Variable Rate Demand Revenue
Bonds, Series 2008E (Fairview Health Services) (together,the"Refunded Bonds"),a portion of which were
used to finance and refinance the construction and improvement of Fairview Southdale Hospital and other
health care-related facilities located at 6401 and 6400 France Avenue South in the City (the "Edina
Facilities") and (b) finance a project consisting of, among other things, the improvement and equipping of
the Edina Facilities, including the replacement of a fluoroscopy system and operating room improvements
(the "Project"). The Edina Facilities are owned and operated by Fairview. The Revenue Bonds will not
be issued by the City.
The Revenue Bonds will be issued as part of a larger bond issue by Minneapolis in an aggregate
amount which is not expected to exceed $550,000,000, the proceeds of which will be used to finance or
refinance the acquisition, construction, renovation, expansion, remodeling and equipping by Fairview or
its affiliates of health care facilities located in the cities of Minneapolis, Burnsville, Chisago City, Hibbing,
Princeton and Wyoming, Minnesota, in addition to 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: August 16, 2018.
BY ORDER OF THE CITY COUNCIL
Debra Manger, City Clerk
4823-8540-9390\1