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7/17/2007 8:42:20 AM
Creation date
12/2/2004 11:06:46 AM
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Roseville City Council
Document Type
Council Resolutions
Resolution #
10138
Resolution Title
Calling for a Public Hearing on the Issuance of Health Facilities Revenue Obligations under Minnesota Statutes, Chapter 469, for a Project located in the City of Roseville, Minnesota, by Group Health Plan, Inc. Obligated Group, establishing a Public
Resolution Date Passed
8/18/2003
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<br />EXHffiIT A <br /> <br />CITY OF ROSEVILLE, MINNESOTA <br />NOTICE OF PUBLIC HEARING <br />ON A PROPOSAL FOR A HEALTH CARE FACILITY <br />PROJECT AND REVENUE BONDING <br /> <br />NOTICE IS HEREBY GIVEN that the City Council (the "Council") of the City of <br />Roseville, Minnesota (the "City"), will hold a public hearing on Monday, September 15,2003, at <br />a meeting of the Council beginning at approximately 6:00 p.m., Central Time, at City Hall, 2660 <br />Civic Center Drive, Roseville, Minnesota, to consider the proposal of Group Health Plan Inc. <br />Obligated Group, a Minnesota nonprofit corporation and 501(c)(3) organization, a subsidiary of <br />HealthPartners, Inc. (the "Borrower"), that a project described below be assisted by the issuance <br />of revenue bonds under Minnesota Statutes, Section 469.152 to 469.1651, as amended. <br /> <br />The Project consists of the renovating, furnishing and equipping of approximately 8,000 <br />square feet of an existing primary care clinic (the "Facility") located at 2831 Snelling Avenue in <br />the City, the constructing, equipping and furnishing of an approximately 2,000 square foot <br />expansion to the Facility (collectively, the "Clinic"), the enhancing of parking facilities for the <br />Clinic and the reimbursing of the Borrower for the purchase of the Facility and land acquisition <br />costs (the "Project"). The Borrower will be the initial owner and operator of the Project. <br /> <br />It is proposed that the Minneapolis Community Development Agency and Saint Paul <br />Housing and Redevelopment Authority, would issue the bonds or other obligations to finance the <br />Project. The City has been advised that Council approval of the bonds is required under Section <br />147(f) of the Internal Revenue Code because the Project is located in the City. <br /> <br />The proposed bond issue, which is estimated to be in the maximum aggregate principal <br />amount of $110,000,000 would finance the Project, a refinancing of the Borrower's outstanding <br />Heath Care Facility Revenue Bonds and various qualified bond issues at HeathPartners sites <br />throughout Minnesota. <br /> <br />The obligations if and when issued will not constitute a charge, lien or encumbrance upon <br />any property of the City, and such obligations will not be a general or moral obligation of the <br />City or a charge against the general credit or taxing powers of the City, but will be payable from <br />sums to be paid by the Borrower pursuant to a revenue agreement. <br /> <br />At the time and place fixed for the public hearing, the City Council will give all persons <br />who appear at the hearing an opportunity to express their views with respect to the proposal. In <br />addition, interested persons may file written comments respecting the proposal with the City <br />Clerk at or prior to said public hearing. <br /> <br />1559199vl <br /> <br />A-I <br />
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