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<br /> I <br /> , <br /> '- CITY OF ARDEN HILLS <br /> I MEMORANDUM <br /> I <br /> DATE: August 22, 1995 <br /> I TO: Mayor and City Council <br /> Brian Fritsinger, Administrat;~ <br /> I FROM: <br /> SUBJECT: Presbyterian Homes - Resolution 95-62 <br /> I <br /> I At its August 14, 1995, Meeting the Arden Hills City Council held a Public Hearing to <br /> consider the issuance of an Housing and Health Care Revenue Bond. The City Council <br /> unanimously approved Resolution 95-56, giving preliminary approval to the issuance of <br /> I these Bonds on behalf of the Presbyterian Homes of Minnesota, Inc., or an affiliate thereof. <br /> Attached, the Council will find Resolution 95-62, which would give final approval for the <br /> .. issuance and sale of Housing and Health Care Revenue Bonds. Additional information about <br /> this sale has been previously documented by Staff in past memorandums. <br /> I Recommendation <br /> Staff recommends the adoption of Resolution Number 95-62, providing for the issuance and <br /> sale of Housing and Health Care Facilities Revenue Bonds, to provide funds for a project on <br /> I behalf of Johana Shores, Inc., ( an affiliate of Presbyterian Homes). This approval is subject <br /> to the review and approval of all bond and loan documents by the City Attorney. <br /> I BF:sae <br /> I <br /> I <br /> I <br /> I <br /> I- <br /> I <br />