HomeMy WebLinkAboutResolution No. 2018-135 Bonds by the City of Milaca on Behalf of A&E Care Properties, LLCRESOLUTION NO. 2018-135
RESOLUTION APPROVING THE ISSUANCE OF BONDS BY THE CITY OF MILACA ON
BEHALF OF A&E CARE PROPERTIES, LLC UNDER MINNESOTA STATUTES,
SECTIONS 469.152 TO 469.165
BE IT RESOLVED by the City Council of the City of Edina, Minnesota (the "City"), as follows:
SECTION 1
Recitals and Findings
I.I. This Council has received a proposal from A&E Care Properties, LLC, a Minnesota limited
liability company (the "Borrower"), the sole member of which is A&E Care Services, a Minnesota nonprofit
corporation, that the City authorize the City of Milaca, Minnesota (the "City of Milaca") to issue revenue
bonds (the "Bonds") under Minnesota Statutes, Sections 469.152 through 469.165, as amended (the
"Act"), in order to finance a project consisting of the acquisition, improvement, and equipping of an office
building located at 7171 Ohms Lane in the City (the "Project") in an aggregate amount that is not expected
to exceed $7,000,000.
1.2. At a public hearing held on the date hereof, all parties who appeared at the hearing were
given an opportunity to express their views with respect to the proposal that the City of Milaca issue its
Bonds, pursuant to the Act, for the purposes described in Section 1.1, and interested persons were given
the opportunity to submit written comments to the City Manager before the time of the hearing.
SECTION 2
Approvals
2.1. The issuance of the Bonds by the City of Milaca, pursuant to the Act, in a principal amount
of up to $7,000,000, to finance the Project, is hereby consented to and approved. The terms of the Bonds
shall be as are approved by the Milaca City Council.
2.2. The Mayor and City Manager and other officers of the City are authorized and directed to
furnish to the Borrower, the City of Milaca and the attorneys rendering an opinion on the issuance of the
Bonds by the City of Milaca, certified copies of all proceedings and records of the City relating to the
Bonds and such other affidavits and certificates as may be required to show the facts relating to the legality
and marketability of the Bonds as such facts appear from the books and records in the officer's 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 by the City Council of the City of Edina this 18th day of December, 2018.
CITY OF EDINA
4801 West 50th Street • Edina, Minnesota 55424
www.EdinaMN.gov • 952-927-8861 • Fax 952-826-0389
Attest:
hardn Allison, City Clerk .._'- James B. Hovland, Mayor
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
December 18, 2018, and as recorded in the Minutes of satTlar Meeting.`
WITNESS my hand and seal of said City this �_� day of Pit
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4831-1685-2354\3
City Clerk