HomeMy WebLinkAbout80-015CERTIFICATION OF MINUTES RELATING TO
INDUSTRIAL DEVELOPMENT REVENUE BONDS
ry T_ssier: City of Prior Lake,: Minnesota
Governing Body: City Council
Find, date, time and place of meeting: A R egular meeting,
held on June 23 , 1980, at 8 clgT ,k M., at
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Prior Lake Cit H f.:
-Chambers:
.• en ers present:
Mayor Stock, Councilmen Bissonett, Busse, Thorkelson F, Watkins
Me^bers absent;
None
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Documents Attached :,
minutes of said meeting. (pages) %' Four (4)
RESOLUTION N6. 80 -15
ti
o RESOLUTION RELATING TO A PROJECT UNDER
THE MUNICIPAL INDUSTRIAL DEVELOPMENT
ACT; APPROVING PROPOSED CHANGESITHERE-
IN; AND REFERRING THE PROPOSED CHANGES
TO ,TAE COMMISSIONER OF SECURITIES FOR
APPROVAL
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the, undersigned, being the duly qualified and acting
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'recording officer of the public corporation issuing the obligations
referred to in the title of this certificate, certify that the docu-
ments attached hereto, as described above, have been carefully
com;,pared t�ith the original records of said corporation in my legal
custody, from H•hich tiey have been transcribed; that said documents
are 001" t and complete transcript of the minutes ".of -a meeting
of the .governing body of said corporation, and correct and complete
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,copies of all resolutions and other.acti,ons taken and of all 'documents
approved. by the governing body at said meeting, so far as. they relate
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. said obligations; and that said meeting was duly held. by the
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governing body at the time and place and has attended throughout,. by
the members indicated above, pursuant to call and notice of such
nee,g ciwen as required by lac..
NESS my hand officially as such recording ofsiicer this
g day t' June ► 1 ° 80
Signature `
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Michael McGuire- -City Manager
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RESOLUTION NO. 80 -15
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RESOLUTION RELATING.TO A. PROJECT UNDER
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THE MUNICIPAL INDUSTRIAL DEVELOPMENT
ACT; ;APPROVING PROPOSED CHANGES THERE -'
IN; AND REFERRING THE PROPOSED CHANGES
TO THE COMMISSIONER OF SECURITIES FOR,,
APPROVAL,
BE IT RESOLVED by the City, Council of the City of Prior
Lake, Minnesota (the City),as follows:
Section 1. Recitals and Findings
1.01: This Council, by resolution adopted on -May,,,
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1 1980, called a hearing on certain proposed changes in a pro-
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posed project under Minnesota Statutes, Chapter 474 (thelAct), to
which this Council has previously given preliminary approval by
Resolution No. 79 -28 adopted July 23, 1979, said project consisting
of the acquisition of certain ;;_.and within the "City and the construc-
tion and, equipping thereon of `a medical clinic and office facility `
(the'Project)
by Abrams, Keenan, Lynch & Spagnolo, a Minnesota gen-
eral partnership (the Borrower), to be leased to Shakopee''Medica.l
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Cete,r, P.A. and others".
1.02. The< changes requested by the Borrower consist of a
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reduction in the size .and scope of the Project thioughr the - elimina-
tion.of office space, to be leased to persons other than Shakopee
"Me dical Center ",'P."A. 'and "a reducti i n the estimated amount of
rette*ai e'' bond X ancing nek essary to acquire, construct and equip ache
"ect- '
Proi f ron 60,0Q,0 to $200,000. In conjunction with such changes,
the Borrower has requested this Council to waive the criterion of the
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guidelines- established by Resolution No. 79 -25, adopted June 4, -1979
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(the d4ldelin ""which,. specifies $S00, 000 as the minimum size of any
revenue�rbond financing to be undertaken by the City under- the Act.-
The Borro�►er has further 'requested'that.the:date` specified in the
Memoxandum'of'Agreement dated July '23, 1979 (the Memorandum of Agree-
me by:whichthe City 'and" the Borrower are to reach agreement oil
mutually"acceptable terms and conditions of the,Revenue Agreement,
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the Bonds and other instruments and, proceedings, be extended from July
22, 180 to and including December 31, 1980.
1.03. , At the public hearing, 'duly called, ,noticed and held
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on , ,dune , 1980 f . all persons were afforded an oppor- „
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tunny to beiear Based on such hearing and such other facts and
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circumstances as this Council deems relevant, .this Council, hereby
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finds, determines and declares that the proposed reductidn in the
size,and scope of the Project and the proposed reduction.in the
estimated amount ,of revenue bond financing therefor would not mate
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rally affect any of the findings set forth in Section l..`2,of Reso-
- lution_No. 79 --28, which findings are hereby confirmed and reaffirmed
by this Council.
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Section 2. A proval of Changes in Project
2,01. The proposed reduction in the size and scope of the
Project and the proposed reduction in the estimated amount of revenue
bond financing from $700,000 to $200,600 are hereby approved, and t
this Council hereby confirms and reaffirms its determination; as
reflected by the preliminary'approval granted „in Resolution No. 79
28, to proceed with the project and its financing.. The criterion of -
the Guidelines which specifies $500,000 as-the minimum size of any
revenue bond financing to be undertaken by the City under the Act is
hereby waived.
2.02. The Borrower's request that the date specified in
the Memorandum.�of Agreement by which the -City and the Borrower are to
'reach agreement on mutually acceptable terms and conditions of the
Revenue Agreement, the Bonds and other instruments and proceedings be
extended from July 22, 1980 to December 31, 1980 is hereby granted:
2.03. The Mayor and City Manager are hereby authorized to
'cause the ,proposed,changes in the Project to be submitted to the
,,Commissioner of Securities,,for such further approval as may be neces-
° sary „under the Act.
Adopted this 2 rd ' "day of June , 1980.
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Attest: c t 1
r City Manag r f;:l
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The motion for the adoption of the, foregoing resolution was
duly seconded by.Member. Watkins and upon vote
being taken thereon, the following voted in favor thereof: 5
Mayor Stock, Councilmen Bissonett; Busse, Thorkelson & Watkins
and the following voted against the same:
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None
whereupon the resolution was declared duly passed and adopted and was
signed by the -Mayor whose signature was attested by the City Manager
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