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Housing and Redevelopment Authority
In and For the City of Lakeville
Dakota County, Minnesota
RESOLUTION
Date April 3, 2000 Resolution No.
Motion By Mulvihill Seconded By
2000-3
Johnson
RESOLUTION RELATING TO SCHOOL FACILITIES LEASE; APPROVING THE
TERMS AND CONDITIONS AND CALLING FOR PROPOSALS THEREFOR
BE IT RESOLVED by The Housing and Redevelopment Authority of the City of
Lakeville, Minnesota (the Authority), as follows:
SECTION 1. PURPOSE. The Authority proposes to undertake a project under the Housing and
Redevelopment Act, Minnesota Statutes, Sections 469.001 through 469.047 (the Act), to
purchase and remodel an existing building (the Project) and to lease the Project to Independent
School District No. 194 (Lakeville), Minnesota (the District), with option to purchase, pursuant
to a Lease Agreement. The Authority has the power to lease and to option the Project to the
District and enter into the Lease Agreement pursuant to the provisions of the Act and the
provisions of Minnesota Statutes, Sections 465.035 and 471.64, Subdivision 1. The District has
the power to lease and option the Project from the Authority and enter into the Lease Agreement
(the Lease) pursuant to Minnesota Statutes, Section 465.71.
SECTION 2. FINANCING. To pay the costs of the Project, the Authority proposes to sell and
assign its interest in the Lease and the lease payments to be made by the District pursuant to the
Lease and other amounts derived thereunder.
SECTION 3. TERMS AND CONDITIONS. Springsted Incorporated, financial consultant to
the Authority, has presented to this Board a form of Terms and Conditions for the Lease which is
attached hereto and hereby approved and shall be placed on file by the Executive Director. Each
and all of the provisions of the Terms and Conditions are hereby adopted as the terms and
conditions of the Lease 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 Lease on behalf of the Authority on a negotiated
basis.
SECTION 4. SALE MEETING. This Board shall meet, at a regular or special meeting, for the
purpose of considering a proposal or proposals for the purchase of the Lease and of taking such
action thereon as may be in the Issuer's best interests.
APPROVED AND ADOPTED this 3nd day of April, 2000.
Housing and Redevelopment Authority
In and the City of Lakeville
By:
Duane Zaun, C ' erson
A. Erickson, Executive Director