HomeMy WebLinkAboutResolution - HRA 2007-01 - Reissuance of Obligations for Community Center Project - 04/17/2007 CITY OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
H.R.A.RESOLUTION NO. 2007-01
A RESOLUTION AUTHORIZING REISSUANCE OF
OBLIGATIONS FOR COMMUNITY CENTER PROJECT
BE IT RESOLVED, by the Board of Commissioners (the "Board") of the Housing and
Redevelopment Authority in and for the City of Eden Prairie, Minnesota (the "Authority"), as
follows:
SECTION 1. Recitals.
I.I. The Board has received a proposal that the Authority reissue as qualified 501(c)(3)
bonds its Lease Revenue Refunding Bonds (City Hall and Community Center Projects), Series
2002A (the"Prior Obligations"). The Prior Obligations are proposed to be reissued pursuant to
the requirements of the Internal Revenue Code of 1986, as amended, and the regulations
promulgated thereunder(the "Code"), for the purpose of refinancing a portion of the cost of
various community-wide improvements including improvements to the Eden Prairie Community
Center and City Hall (the "Project"). The portion of the Project constituting the community
center improvements (the "Community Center Project") is located at 16700 Valley View Road in
the City of Eden Prairie, Minnesota(the"City"). The Community Center Project is expected to
be used by the general public, the City and qualified 501(c)(3) organizations including but not
limited to the Eden Prairie Hockey Association.
1.2. At a public hearing, duly noticed and held on the date hereof in accordance with
Section 147(f) of the Code, on the proposal to reissue the Prior Obligations as qualified 501(c)(3)
bonds, all parties who appeared at the hearing were given an opportunity to express their views
with respect to the proposal, and interested persons were given the opportunity to submit written
comments to the City Clerk before the time of the hearing.
SECTION 2. Findings and Approval. The Authority hereby finds and resolves that: based on
the public hearing, it would be desirable and in the best interest of the Authority to reissue the
Prior Obligations as qualified 501(c)(3)bonds pursuant to the provisions of the Code.
SECTION 3. Information Required. The officers of the Authority are authorized and directed to
prepare and furnish to bond counsel to the Authority certified copies of all proceedings and
records of the Authority relating to the refinancing and financing of the Project and the
reissuance of the Prior Obligations as qualified 501(c)(3)bonds, and such other affidavits and
certificates as may be required to show the facts appearing from the books and records in the
officers' custody and control or as otherwise known to them; and all such certified copies,
certificates and affidavits, including any heretofore furnished, shall constitute representations of
the Authority as to the truth of all statements contained therein.
Adopted by the Board of Commissioners of the Housing and Redevelopment Authority in
and for the City of Eden Prairie, Minnesota, this 17th day of April, 2007.
I w 4n
PhV Young, Chai Person
ATTEST:
SEAL
Scott H. Nea , ecu ive Di ctor