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HomeMy WebLinkAboutResolution No. 2013-017 Calling For A Public Hearing On A Project By Calvin Christian School of Minneapolis RESOLUTION NO. 2013-17 RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROJECT BY CALVIN CHRISTIAN SCHOOL OF MINNEAPOLIS BE IT RESOLVED, by the City Council of the City of Edina, Hennepin County, Minnesota (the "City"), as follows: 1. Authority. Fryberger, Buchanan, Smith & Frederick, P.A., bond counsel ("Bond Counsel") has advised the City that Minnesota Statutes, Sections 469.152 through 469.165, as amended (the "Act"), authorizes a city to issue revenue obligations to refinance indebtedness incurred by an organization engaged in providing educational activities as an elementary, secondary or postsecondary school. 2. The Project. Representatives of Calvin Christian School of Minneapolis (the "Borrower") have represented to the City that the Borrower is a Minnesota nonprofit corporation and organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, engaged in providing educational activities as an elementary, secondary or postsecondary school. Representatives of the Borrower have further advised the City that the Borrower desires to refinance taxable indebtedness incurred for improvements to the Borrower's kindergarten through eighth grade, 172-student, school campus located at 4015 Inglewood Avenue South, Edina, Minnesota, consisting of: (a) constructing and equipping an 8,600 square foot addition to the existing main school building to provide a new lobby, media center (incorporating a library, computer lab, office and conference room), office suite (including a reception area, three administrative offices, a nursing office, a workroom and two single-stall restrooms); (b) constructing and equipping a 1,075 square foot addition to the west building to provide including a new entryway, a hallway and boys' and girls' restrooms; and (c) related renovation to existing areas to provide a staff room, a learning resource room and a tutoring room in the City (the "Project") and paying costs associated with the refinancing. 3. Financing; Joint Powers Agreement. a. The Borrower desires to finance the Project through the issuance of tax-exempt revenue obligations (the "Obligations") of the City of Lilydale (the "Issuer"). b. The Borrower has further requested that the City consent to the issuance of the Obligations by the Issuer to finance the Project pursuant to the Act. 4. Public Hearin. a. As the Project is located within the City,the City will conduct a public hearing on the proposal to undertake and finance the Project. CITY OF EDINA 4801 West 50th Street•Edina,Minnesota 55424 www.EdinaMN.gov.952-927-8861 • Fax 952-826-0390 b. The City Clerk is authorized and directed to cause the notice substantially in the form attached hereto as Exhibit A.to be published in the official newspaper of the City and a newspaper of general circulation in the City not less than 14 days nor more than 30 days prior to the date set for the public hearing; provided that if the official newspaper of the City is a newspaper of general circulation in the City, the notice may be published only once. 5. City Costs. The Borrower has agreed that it will pay, or, upon demand, reimburse the City for payment of, any and all costs incurred by the City in connection with the Project and the issuance of the Obligations, whether or not the Project is carried to completion, or the Obligations are issued. 6. Rights Reserved. Nothing in this resolution shall be co strued as an indication of an intent to approve this Project and issue the propos obligations. The Council specifically reserves the right to approve or disappr a request after said public hearing. Passed and adopted by the City Council on February 5, 201 . ATTEST: 21 Debra A. Mangen, City derk ames 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 was duly adopted by the Edina City Council at its Regular Meeting of February 5, 2013, and as recorded in the Minutes of said Regular Meeting. WITNESS my hand and seal of said City this day of ,20 City Clerk 2 EXHIBIT A NOTICE OF PUBLIC HEARING ON PROPOSED PROJECT AND THE ISSUANCE OF PRIVATE ACTIVITY BONDS CITY OF EDINA,MINNESOTA Notice is hereby given that the City Council of City of Edina, Minnesota (the "City") will meet on Tuesday, March 5, 2013, at 7:00 p.m., or as soon thereafter as reasonably possible in the City Hall, 4801 West 50th Street, Edina, Minnesota, for the purpose of conducting a public hearing to consider giving approval to the issuance by the City of Lilydale (the "Issuer") of revenue obligations, in one or more series, under Minnesota Statutes, Sections 469.152 through 469.165 (the "Act"), in order to finance the cost of a project located in the City. The project will consist of refinancing taxable indebtedness incurred for improvements to Borrower's kindergarten through eighth grade, 172-student, school campus located at 4015 Inglewood Avenue South, Edina, Minnesota, consisting of. (a) constructing and equipping an 8,600 square foot addition to the existing main school building to provide a new lobby, media center (incorporating a library, computer lab, office and conference room), office suite (including a reception area, three administrative offices, a nursing office, a workroom and two single-stall restrooms); (b) constructing and equipping a 1,075 square foot addition to the west building to provide including a new entryway, a hallway and boys' and girls' restrooms; and (c) related renovation to existing areas to provide a staff room, a learning resource room and a tutoring room in the City and paying a portion of the costs associated with the financing, in the maximum amount of $1,500,000 (the "Project") all on behalf of the owner, Calvin Christian School of Minneapolis, a Minnesota nonprofit corporation and organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the "Borrower"). The total amount of the obligations to be issued presently being estimated at not to exceed $1,500,000. The obligations and interest thereon shall not be payable from nor charged against any funds of the City or the Issuer (together,the"Municipalities") other than revenue pledged for the payment thereof, nor shall the Municipalities be subject to any liability thereon. No holders of the obligations shall ever have the right to compel any exercise of the taxing power of the Municipalities to pay the obligations or the interest thereon, nor to enforce payment against any property of the Municipalities. Such obligations shall not constitute a charge, lien or encumbrance, legal or equitable, upon any property of the Municipalities, nor shall the same constitute a debt of the Municipalities within the meaning of any constitutional or statutory limitations. A draft copy of the proposed Application to the Minnesota Department of Employment and Economic Development for approval of the project, together with all attachments and exhibits thereto, is available for public inspection at the office of the City Clerk at 4801 West 50th Street, Edina, Minnesota, between the hours of 8:00 a.m. and 4:30 p.m. Monday through Friday, except legal holidays. All persons interested may appear and be heard at the time and place set forth above or may submit written comments to the City Clerk in advance of the hearing. EXTRACT OF MINUTES OF A REGULAR MEETING OF THE CITY COUNCIL OF THE CITY OF EDINA, MINNESOTA Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Edina, Minnesota, was duly called and held at the City Hall located at 4801 West 50'h Street, Edina, Minnesota, on Tuesday, February 5, 2013, at 7:00 p.m. The following members were present: Bennett, Brindle, Sprague, Swenson, Hovland and the following members were absent: none MOTION: Member Sprague moved to adopt Resolution No.2013-17, entitled "Resolution Calling for a Public Hearing on a Project by Calvin Christian School of Minneapolis," the reading of which had been dispensed with by unanimous consent. SECOND: Member Brindle RESULT: On a roll call vote the motion was carried. Ayes: Brindle, Sprague, Hovland Nayes: Bennett, Swenson Absent: None M:WOOS1 169951000002ROL 1108557501.DO(:X