Loading...
HomeMy WebLinkAbout16-02CERTIFICATE AS TO RESOLUTION I, the undersigned, being the duly qualified and acting recording officer of the Housing and Redevelopment Authority of the City of Lakeville, Minnesota (the Authority), hereby certify that the attached resolution is a true copy of Resolution No. 16-02, entitled: "RESOLUTION RELATING TO THE THIRD SHEET ICE ARENA PROJECT AND ITS REFINANCING UNDER MINNESOTA STATUTES, CHAPTERS 465, 469, 471 AND 475; CALLING FOR A PUBLIC HEARING THEREON" (the Resolution), on file in the official records of the Authority in my legal custody; that the Resolution was duly adopted by the Board of Commissioners at a meeting held on June 6, 2016 and attended throughout by a quorum, pursuant to call and notice of such meeting given as required by law; and that the Resolution has not as of the date hereof been amended or repealed. WITNESS my hand officially this 6t' day of June, 2016 J?,�,� Bart Davis, Secretary - 1 - HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF LAKEVILLE, MINNESOTA RESOLUTION NO. 16-02 RESOLUTION RELATING TO THE THIRD SHEET ICE ARENA PROJECT AND ITS REFINANCING UNDER MINNESOTA STATUTES, CHAPTERS 465, 469, 471 AND 475; CALLING FOR A PUBLIC HEARING THEREON BE IT RESOLVED by the Board of Commissioners of the Housing and Redevelopment Authority of the City of Lakeville, Minnesota (the Authority), as follows: SECTION 1 Recitals 1.1. Pursuant to the authority granted by Minnesota Statutes, Sections 465.71, 469.012, 469.041, 469.034, 469.035, 471.59, and 475.79, the Authority is authorized to issue to lease revenue bonds in anticipation of the collection of revenues of a project to finance or refinance the cost of acquisition, construction, reconstruction, improvement, or extension thereof. The Authority proposes to issue its Lease Revenue Refunding Bonds (Ice Arena Project), Series 2016A (the Bonds) for the purpose of refinancing costs of construction of the third sheet ice arena facility (the Facility) located at 8525 215th Street in the City of Lakeville, Minnesota (the City). The Facility is used for the benefit of qualified 501(c)(3) organizations, including but not limited to the Lakeville Hockey Association, other hockey and figure skating associations, the general public, the City, and Independent School District No. 194. The acquisition of the Facility was originally financed with proceeds of the Authority's Lease Revenue Bonds (Ice Arena Project), Series 2006, dated, as originally issued, as of December 1, 2006 and issued in the original principal amount of $9,230,000 (the Refunded Bonds). The Facility is owned by the Authority, leased to the City pursuant to a lease -purchase agreement, and subleased to Lakeville Arenas, a Minnesota joint powers entity, for operation pursuant to a sublease agreement. -2- SECTION 2 Public Hearing 2.1. In compliance with Section 147(f) of the Internal Revenue Code of 1986, as amended, this Board of Commissioners is required to conduct a public hearing on the refinancing of the Facility and the Refunded Bonds by the issuance of the Bonds. A public hearing on the proposal to refinance the Facility and to issue the Bonds is hereby called and shall be held on July 5, 2016, at 6:30 p.m., at the City Hall, 20195 Holyoke Avenue, in the City of Lakeville, Minnesota. 2.2. The Chairperson or Secretary shall cause notice of the public hearing to be published in the official newspaper of the City at least once not fewer than fourteen (14) nor more than thirty (30) days prior to the date fixed for the public hearing. The notice to be published shall be in substantially the form attached as Exhibit A hereto. ADOPTED this 6t' day of June, 2016 ATTEST: 'BagritiDavis, Secretary -3- HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF LAKEVILLE, MINNESOTA By: Douglas P. derson, Chair EXHIBIT A NOTICE OF PUBLIC HEARING ON THE ISSUANCE OF LEASE REVENUE BONDS UNDER MINNESOTA STATUTES, CHAPTERS 465, 469, 471 AND 475 THE HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF LAKEVILLE, MINNESOTA NOTICE IS HEREBY GIVEN that the Board of Commissioners of the Housing and Redevelopment Authority of the City of Lakeville, Minnesota (the Authority), will meet on July 5, 2016, at 6:30 o'clock p.m., at the City Hall, 20195 Holyoke Avenue, in the City of Lakeville, Minnesota, for the purpose of conducting a public hearing on a proposal that the Authority issue its lease revenue bonds in an aggregate principal amount not to exceed $8,100,000 (the Bonds), under Sections 465.71, 469.012, 469.041, 469.034, 469.035, 471.59, and 475.79, as amended, for the purpose of refinancing the Authority's Lease Revenue Bonds (Ice Arena Project), Series 2006, dated, as originally issued, as of December 1, 2006 and issued in the original principal amount of $9,230,000 (the Refunded Bonds). The Refunded Bonds were issued for the purpose of financing a portion or all of the costs of construction of the third sheet ice arena facility (the Facility) located at 8525 215th Street in the City of Lakeville, Minnesota (the City) used for the benefit of qualified 501(c)(3) organizations, including but not limited to the Lakeville Hockey Association, other hockey and figure skating associations, the general public, the City, and Independent School District No. 194. The Facility is owned by the Authority, leased to the City pursuant to a lease -purchase agreement, and subleased to Lakeville Arenas, a Minnesota joint powers entity, for operation pursuant to a sublease agreement. The Bonds to be issued will not constitute a general obligation of the Authority or the City, but will be a limited obligation payable solely from funds received by the Authority pursuant to the lease -purchase agreement. No holder of the Bonds shall ever have the right to compel any exercise of the taxing power of the Authority or the City to pay the Bonds or the interest thereon, nor to enforce payment against any property of the Authority or the City except the property pledged to the payment thereof. Before issuing the Bonds, the Authority will enter into an agreement with the City whereby the City will be obligated to make payments at least sufficient at all times to pay the principal of and interest on the Bonds when due. All persons interested may appear and be heard at the time and place set forth above, or may file written comments with the Secretary of the Authority prior to the date of the hearing set forth above. Dated: June 6, 2016 BY ORDER OF THE BOARD OF COMMISSIONERS Bart Davis, Secretary