HomeMy WebLinkAboutResolution - 2003-116 - Memorial Blood Centers -Commercial Revenue Development Note Issuance - 07/15/2003 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY,MINNESOTA
RESOLUTION NO. 2003-116
RESOLUTION APPROVING THE ISSUANCE OF A COMMERCIAL DEVELOPMENT
REVENUE NOTE UNDER THE MINNESOTA MUNICIPAL INDUSTRIAL
DEVELOPMENT ACT BY THE HOUSING AND REDEVELOPMENT AUTHORITY IN
AND FOR THE CITY OF EDEN PRAIRIE,MINNESOTA
BE IT RESOLVED by the City Council of the City of Eden Prairie,Minnesota(the
"City"), as follows:
Section 1. Recitals. A public hearing was held on July 15, 2003 on the proposal that the
Housing and Redevelopment Authority in and for the City of Eden Prairie,Minnesota(the
"Authority") issue its revenue note(the "Note") to finance a portion or all of the cost of a
proposed project(the"Project") on behalf of Memorial Blood Centers, a Minnesota nonprofit
corporation(the"Corporation"), consisting of(i)the acquisition of a 26,722 gross square foot
office building(the"Facilities") and 92,780 square feet of associated land from Braun Intertec
and(ii) conversion of the Facilities from an office building and engineering laboratory to a
central operating facility for the Corporation. All parties who appeared at the hearing were given
an opportunity to express their views with respect to such proposal and interested persons were
given the opportunity to submit written comments to the Executive Director of the
Commissioners of the Authority before the date of the hearing.
Section 2. Authorization and Approval. Solely for purposes of Section 147(f) of the
Internal Revenue Code of 1986, as amended, the City Council hereby approves the issuance of
the Note by the Authority to finance the Project. Notwithstanding the foregoing,however,the
adoption of this resolution shall not be deemed to establish any obligation on the part of the City
or this Council to cause the issuance of the Note. The Note, if issued, shall not constitute a
charge, lien or encumbrance, legal or equitable,upon any property of the City.
Adopted by the Eden Prairie City Council on July 15, 2003.
Ron Case,Acting Mayor
Attest:
446��� �&
Kathleen Porta, City Clerk