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Departmegt.4pproval Manager Approved: Date: 9115/2003 Item Igo :I. C. Agenda Section: Public Hearing Item Description: Consideration to Acknowledge the Expenditure of Tax - exempt Funds by Group Health Plan Inc. (HealthPartners) Background State Statute provides for the issuance of tax - exempt bonds by municipalities For the benefit of medical facilities. If a municipality expects to issue or receive tax - exempt hand proceeds, either directly or indirectly, it is required by federal later to hold a public hearing, The Minneapolis Community Development Agency and the St. Paul Housing and Redevelopment Authority are proceeding with the issuance of tax - exempt bonds for the benefit of group Health Plan Inc., a subsidiary of Healthpartners. Because tax - exempt monies issued by a local agency are being spent in the City of Roseville, a public hearing is required. The plan submitted by Group Health Plan inc., calls for the expenditure of approximately 85 million hroughou.t various Facilities in the Twin Cities metropolitan area. A portion of these monies will be used to finance the renovation, furnishing, and equipping for an existing primary care clinic, located at 2831 Snelling Avenue in Roseville. The purpose of the public hearing is to allow for public comment on the proceeds to be upended. ITT special action is required by Council at the hearing. The process entails opening the hearing, allowing for public comment (if any), and closing the public hearing. Attachment Enclosed is a Resolution giving host city approval to tax - exempt bonds, as prepared by Bond Counsel. Staff Recommendation Staff' recommends the Council approve the resolution giving host city approval to issuing tax - exempt bonds. Council Action Requested Motion to approve the resolution giving host city approval to issuing tax-exempt bonds.