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 of the City of <br />Roseville, Minnesota, was duly held in the City Hall in said City on Monday, June 15, 2009, <br />commencing at 6:00 P.M. <br />The following Councilmembers were present: <br />and the following were absent: <br />Member introduced the following resolution and moved its adoption: <br />RESOLUTION NO. <br />RESOLUTION AUTHORIZING THE ISSUANCE, SALE, AND DELNERY OF THE CITY OF <br />ROSEVILLE, MINNESOTA SENIOR HOUSING REVENUE REFUNDING BONDS <br />(EAGLECREST PROJECT), SERIES 2009 AND APPROVING THE FORM OF AND <br />AUTHORIZING THE EXECUTION AND DELIVERY OF THE BONDS AND VARIOUS <br />DOCUMENTS RELATING THERETO <br />WHEREAS, the City of Roseville, Minnesota (the "City"), is a political subdivision of the State of <br />Minnesota. <br />WHEREAS, Minnesota Statutes, Chapter 462C, as amended (the "Housing Program Act"), <br />authorizes and empowers municipalities of the State of Minnesota to issue and sell revenue bonds and <br />lend the proceeds thereof to an organization described in Section 501(c)(3) of the Internal Revenue <br />Code of 1986, as amended (the "Code") for the purpose of providing financing or refinancing for the <br />acquisition of multifamily housing developments authorized thereby. <br />WHEREAS, the City is authorized by the Housing Program Act to issue revenue obligations to <br />finance or refinance multifamily rental housing developments designed and intended to be used <br />primarily by elderly or physically handicapped persons. <br />WHEREAS, the Issuer is authorized by Minnesota Statutes, Chapter 469.152 through 469.1651, <br />relating to municipal industrial development (the "Industrial Development Act" and together with the <br />Housing Program Act, the "Act"), to issue revenue obligations for the purpose of promoting the welfare <br />of the state by providing necessary health care facilities, so that adequate health care services are <br />available to residents of the state at reasonable cost. <br />Page 3 of 11 <br />