Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />CITY OF ARDEN HILLS, MINNESOTA <br />RESOLUTION NO. 92-66 <br /> <br />RESOLUTION GIVING HOST APPROVAL <br />TO THE ISSUANCE OF HEALTH CARE REVENUE <br />BONDS, SERIES 1992 <br />(GROUP HEALTH PLAN, INC. PROJECT) <br /> <br />WHEREAS, Group Health Plan, Inc., a Minnesota non-profit <br />corporation ("Group Health"), currently operates facilities <br />located at 3930 Northwoods Drive in the city of Arden Hills (the <br />"Local Facilities"). <br /> <br />WHEREAS, Group Health has proposed that the Housing and <br />Redevelopment Authority of the City of saint Paul, Minnesota, and <br />the City of Minneapolis, Minnesota, jointly issue Health Care <br />Revenue Bonds in the approximate principal amount of $70,000,000 <br />(the "Bonds") to finance or refinance various capital <br />expenditures made by Group Health in approximately 18 cities <br />located through the state of Minnesota, including the Local <br />Facilities. <br /> <br />WHEREAS, section 147(f) of the Internal Revenue Code of <br />1986, as amended, requires that each municipality in which <br />facilities to be financed or refinanced by the Bonds are located <br />must approve the issuance of the Bonds following a public <br />hearing. <br /> <br />WHEREAS, a public hearing on the issuance of the Bonds was <br />held by the city of Minneapolis and the Housing and Redevelopment <br />Authority of the City of Saint Paul, Minnesota, on September 8, <br />1992, and September 22, 1992, respectively. <br /> <br />WHEREAS, the Bonds are payable solely from revenues of Group <br />Health, will not be a general or moral obligation of the city of <br />Arden Hills, the Housing and Redevelopment Authority of the City <br />of Saint Paul, the city of Minneapolis or any other political <br />subdivision but will be payable solely from revenues of Group <br />Health to the extent and in the manner provided in the documents <br />executed in connection with the issuance of the Bonds. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the city Council of the <br />city of Arden Hills that the city hereby gives the host approval <br />required under the Internal Revenue Code to the issuance of the <br />Bonds. <br /> <br />PASSED AND ADOPTED BY THE CITY <br />DAY OF OCTOBER, 1992. <br /> <br />COUNCIL OF THE/CITY OF ~RDEN HILLS <br />~ __---/-. l;? (~<.( /)' <br />- ." +--1,/ <br />IJ.Zofl{M ! ;<a'f1f&! <br />THO S R. SATHER, MAYOR <br /> <br />THIS 13th <br /> <br />ATTEST: <br /> <br />({ <br /> <br /> <br />c7: <br />, CLERK ADMINISTRATOR <br />