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HomeMy WebLinkAboutres_11185 Extract of Minutes of a Meeting of the City Council of the City of Roseville, Minnesota Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Roseville, Minnesota, was duly called and held at City Hall in said City on Monday, the 27th day of October, 2014, at 6:00 o'clock P.M. The following members were present: Willmus, Laliberte, Etten, McGehee, and Roe and the following were absent: None. Member Etten introduced the following resolution and moved its adoption: RESOLUTION NO. 11185 A RESOLUTION CALLING FOR A PUBLIC HEARING ON THE ISSUANCE OF EDUCATIONAL FACILITIES REVENUE NOTES AND AUTHORIZING THE PUBLICATION OF A NOTICE OF THE HEARING (CHARTER SCHOOLS DEVELOPMENT CORPORATION/HIAWATHA ACADEMIES PROJECT) The motion for the adoption of the foregoing resolution was duly seconded by member Roe, and after full discussion thereof and upon vote being taken thereon, the following voted in favor thereof: Laliberte, Etten, Roe and the following voted against the same: Willmus, McGehee whereupon said resolution was declared duly passed and adopted. 6640120v1 RESOLUTION CALLING FOR A PUBLIC HEARING ON THE ISSUANCE OF EDUCATIONAL FACILITIES REVENUE NOTES AND AUTHORIZING THE PUBLICATION OF A NOTICE OF THE HEARING (CHARTER SCHOOLS DEVELOPMENT CORPORATION/HIAWATHA ACADEMIES PROJECT) (a) WHEREAS, Minnesota Statutes, Sections 469.152 through 469.1655, relating to municipal industrial development (the "Act"), gives municipalities the power to issue revenue obligations for the purpose of promoting the welfare of the state by the active attraction and encouragement and development of economically sound industry and commerce to prevent so far as possible the emergence of blighted and marginal lands and areas of chronic unemployment; and (b) WHEREAS, Roseville, Minnesota (the "City"), has received from Charter Schools Development Corporation, a District of Columbia nonprofit corporation and 501(c)(3) organization (the "Borrower"), a proposal that it undertake a program to finance the Project hereinafter described, through the issuance of revenue notes, in one or more series, or obligations (the"Notes")pursuant to the Act; and (c) WHEREAS, before proceeding with consideration of the request of the Borrower it is necessary for the City to hold a public hearing on the proposal pursuant to Section 147(f) of the Internal Revenue Code and Section 469.154, Subdivision 4, of the Act. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Roseville, Minnesota, as follows: 1. A public hearing on the proposal of the Borrower will be held at the time and place set forth in the form of Notice of Public Hearing attached hereto as Exhibit A. The general nature of the Project and an estimate of the aggregate principal amount of revenue notes or other obligations to be issued to finance the proposal are described in the Notice of Public Hearing. 2. The Manager is hereby authorized and directed to cause notice of the hearing to be given one publication in the official newspaper of the City and also in a newspaper of general circulation available in the City, not less than 14 days nor more than 30 days prior to the date fixed for the hearing, substantially in the form of the attached Notice of Public Hearing. 2 6640120v1 Adopted by the City Council of Roseville, Minnesota, this 27th da of October, 2014. 40/mo: Mayor ATTEST: IP Manager 3 6640120v1 STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF ROSEVILLE I, the undersigned, being the duly qualified and acting Manager of the City of Roseville, DO HEREBY CERTIFY that I have compared the attached and foregoing extract of minutes with the original thereof on file in my office, and that the same is a full, true and complete transcript of the minutes of a meeting of the City Council of the City of Roseville, Minnesota, duly called and held on the date therein indicated, insofar as such minutes relate to a resolution calling a public hearing on the issuance of educational facilities revenue notes. WITNESS my hand this 27th day of October, 2014. "7 _ Manager 4 6640120v1 EXHIBIT A NOTICE OF PUBLIC HEARING ON A PROPOSAL FOR THE ISSUANCE OF EDUCATIONAL FACILITIES REVENUE NOTES FOR THE HIAWATHA ACADEMIES PROJECT Notice is hereby given that the City Council of the City of Roseville, Minnesota (the "City") will meet at the City Hall located at 2660 Civic Center Drive, Roseville, Minnesota, at 6:00 p.m. on Monday, December 1, 2014, to consider the proposal of Charter Schools Development Corporation, a District of Columba nonprofit corporation and having federal income tax-exempt 501(c)(3) status (the "Borrower"), that the City assist in financing a project hereinafter described pursuant to Minnesota Statutes, Sections 469.152 to 469.1655, by the issuance of revenue notes, in one or more series (the"Notes"). The "Project" consists of financing the acquisition, construction and equipping of a charter school facility located at the southeast corner of Hiawatha Academies' Northrop Campus located at 1611 East 46th Street, Minneapolis, Minnesota, near the intersection of 17th Avenue East and 47th Street South, including an approximately 38,000 square foot two-story middle school building containing approximately 19 classrooms, a gymnasium, auditorium, a cafeteria, conference and break-out rooms, and administrative space, and site upgrades, including approximately 36 parking spaces, a loading area, and landscaping. The Project will be owned by the Borrower and leased to and operated by Hiawatha Academies, a Minnesota non-profit corporation having federal income tax-exempt 501(c)(3) status as a public (charter) school. The maximum estimated principal amount of the Notes to be issued to finance the Project is $6,600,000. The Notes if and when issued will not constitute a charge, lien or encumbrance upon any property of the City, except the Project, and such obligations will not be a charge against the general credit or taxing powers of the City but will be payable from sums to be paid by the Borrower pursuant to a revenue agreement. 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, during normal business hours, Monday through Friday, in the office of the Manager, in the City Hall. At the time and place fixed for the Public Hearing, the City Council will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. Written comments will be considered if submitted at the above City office on or before the date of the hearing. A-1 6640120v1