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REQUEST FOR COUNCEL ACTION Date: 05/26/98 <br /> Item NO.: C_4 <br /> Department dip royal; Manager Reviewed Agenda Section <br /> Consent <br /> Item Description: Setting a Public Hearing for Issuance of revenue Bonds for Children's <br /> Hospitals and Clinics <br /> Background <br /> The City of Minneapolis is wishing to issue up to $21,000,000 of revenue bonds on behalf of the <br /> Children"s Hospitals and Clinics. Since up to $10,500,000 of the bond proceeds are to be spent for <br /> a computer fa lity in Roseville at 2910 Centre Pointe Road, both federal and state statutes require <br /> the Roseville City Council to approve the bonds related to the Roseville project. <br /> See the attached letter from Jerome Gilligan regarding further details. <br /> Financial <br /> The City std and bond counsel Will review the,bond documents prior to the public hearing and will <br /> provide assurance that there will be no financial or liability obligation incurred by the City. <br /> Staff Recommendations <br /> Staff is recommending that the City Cou ncil set the public.hearing for Ai4gust 10, 1998 <br /> Council Action <br /> Motion to approve the attached resolution setting a public hearing for the issuance of revenue bonds <br /> for Children:s Hospitals and Clinics for August 10, 1998. <br /> JAWoRDPROCUDENCIIILDR£N.WD <br />