HomeMy WebLinkAboutResolution - HRA 2000-01 - Public Facility Lease Revenue bonds Series 2000A - 10/03/2000 CITY OF EDEN PRARU F;
HENNEPIN COUNTY,MINNESOTA
HRA RESOLUTION NO.2000-01
RESOLUTION RELATING TO PUBLIC FACILITY LEASE REVENUE
BONDS,SERIES 2000A(CITY OF EDEN PRAIRIE LEASE
OBLIGATIONS); AUTHORIZING THE ISSUANCE AND CALLING FOR
THE SALE THEREOF
BE IT RESOLVED by the Board of Commissioners of the Housing and Redevelopment
Authority in and for the City of Eden Prairie,Minnesota(the Authority), as follows:
SECTION 1. FINDINGS. Pursuant to the authority granted by Sections 469.034 and 469.035 of
the Housing and Redevelopment Act,Minnesota Statutes, Section 469.001 to 469.047, as
amended(the Act), and Minnesota Statutes, Chapter 475, as amended,the Authority is
authorized to issue from time to time its revenue bonds for any of its authorized corporate
purposes. The Authority hereby determines that it would be in the best interests of the Authority
and in furtherance of the purposes and policies of the Act for the Authority to issue its Public
Facility Lease Revenue Bonds, Series 2000A(City of Eden Prairie Lease Obligations), in the
principal amount of$3,390,000(the Bonds),to finance the cost of a project, consisting of the
construction of a fire station(the Project) located in the City of Eden Prairie,Minnesota(the
City), and to lease and agree to sell the Project to the City pursuant to and in accordance with a
lease-purchase contract. The Authority is authorized to undertake the Project under Minnesota
• Statutes, Section 469.012, subdivision 1(7). The Bonds would be special, limited obligations of
the Authority payable solely from the amounts received from the City pursuant to the lease-
purchase contract, except to the extent paid from proceeds of the Bonds, investment income and
the proceeds of any insurance claim or condemnation award with respect to the Project.
SECTION 2. TERMS OF PROPOSAL. Springsted Incorporated, financial consultant to the
Authority,has presented to this Board a form of Terms of Proposal for the Bonds which is
attached hereto and hereby approved and shall be placed on file by the Secretary. Each and all of
the provisions of the Terms of Proposal are hereby adopted as the terms and conditions of the
Bonds and of the sale thereof. Springsted Incorporated, as independent financial advisers,
pursuant to Minnesota Statutes, Section 475.60, Subdivision 2,paragraph(9)is hereby
authorized to solicit proposals for the Bonds on behalf of the Authority on a negotiated basis.
SECTION 3. SALE MEETING. This Board shall meet at the time and place stated in the Terms
of Proposal for the purpose of considering sealed proposals for the purchase of the Bonds and of
taking such action thereon as may be in the best interests of the Authority.
ADOPTED by the Eden Prairie City Council on Octob 3 2000.
e L. Harris,Mayor
toATTEST: SEAL
kaoleen A.Porta,City Clerk