Laserfiche WebLink
EXTRACT OF MINUTES OF A MEETING OF THE <br />CITY COUNCIL OF THE CITY OF <br />ROSEVILLE, MINNESOTA <br />Pursuant to due call and notice thereof, a regular or special meeting of the City Council <br />of the City of Roseville, Minnesota, was duly held in the City Hall in said City on Monday, June <br />15, 2009, commencing at 6:00 P.M. <br />The following Councilmembers were present: Johnson, Ihlan, Roe and Klausing <br />and the following were absent: Pust. <br />Member Johnson introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 10716 <br />RESOLUTION AUTHORIZING THE ISSUANCE, SALE, AND DELIVERY <br />OF THE CITY OF ROSEVILLE, MINNESOTA SENIOR HOUSING <br />REVENUE REFUNDING BONDS (EAGLECREST PROJECT), SERIES 2009 <br />AND APPROVING THE FORM OF AND AUTHORIZING THE EXECUTION <br />AND DELIVERY OF THE BONDS AND VARIOUS DOCUMENTS <br />RELATING THERETO <br />WHEREAS, the City of Roseville, Minnesota (the "City"), is a political subdivision of <br />the of the State of Minnesota. <br />WHEREAS, Minnesota Statutes, Chapter 462C, as amended (the "Housing Program <br />Act"), authorizes and empowers municipalities of the State of Minnesota to issue and sell <br />revenue bonds and lend the proceeds thereof to an organization described in Section 501(c)(3) of <br />the Internal Revenue Code of 1986, as amended (the "Code") for the purpose of providing <br />financing or refinancing for the acquisition of multifamily housing developments authorized <br />thereby. <br />WHEREAS, the City is authorized by the Housing Program Act to issue revenue <br />obligations to finance or refinance multifamily rental housing developments designed and <br />intended to be used primarily by elderly or physically handicapped persons. <br />WHEREAS, the Issuer is authorized by Minnesota Statutes, Chapter 469.152 through <br />469.1651, relating to municipal industrial development (the "Industrial Development Act" and <br />together with the Housing Program Act, the "Act"), to issue revenue obligations for the purpose <br />of promoting the welfare of the state by providing necessary health care facilities, so that <br />adequate health care services are available to residents of the state at reasonable cost. <br />2363919x1 <br />