2025-030 Resolution Giving Host Approval to the Issuance by the City of St. Bonifacius, Minnesota of its Healthcare Revenue BondsExtract of Minutes of a Meeting of the
City Council of the City of Hopkins, Minnesota
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City
of Hopkins, Minnesota, was duly held on Tuesday, April 15, 2025, commencing at 6:30 P.M.
The following members wyTe present:
and the following were absent:
Member G k(lawdintroduced the following resolution and moved its adoption:
RESOLUTION NO. 2025-030
RESOLUTION GIVING HOST APPROVAL TO THE ISSUANCE
BY THE CITY OF ST. BONIFACIUS, MINNESOTA
OF ITS HEALTHCARE REVENUE BONDS
(AUGUSTANA CHAPEL VIEW HOMES, INC. PROJECT), SERIES 2025
UNDER MINNESOTA STATUTES, SECTIONS 469.152 THROUGH 469.165
BE IT RESOLVED, by the City Council (the "Council") of the City of Hopkins,
Minnesota (the "City"),as follows:
Section 1. Statutory Authorizations. The purpose of Minnesota Statutes, Sections
469.152 through 469.165, as amended, (the "Act"), is, among other things, to promote the
welfare of the State of Minnesota (the "State") by the provision of necessary health care
facilities, so that adequate health care services are available to residents of the state at reasonable
cost. The Act authorizes municipalities to issue revenue obligations for the purpose of financing
the cost of properties, real or personal, used or useful in connection with a revenue producing
enterprise engaged in providing health care services, including hospitals, nursing homes, and
related medical facilities and to enter into agreements necessary or convenient in the exercise of
powers granted by the Act. Pursuant to Minnesota Statutes, Section 471.656, as amended, if the
property is located outside of the corporate boundaries of the municipality issuing the
obligations, that municipality may nevertheless issue obligations to finance the acquisition or
improvement of the property if the property constitutes a single project and the governing body
of the city in which the project is located consents by resolution to the issue of the obligations.
Section 2. Description of the Project.
(a) The City has received a proposal from Augustana Chapel View Homes, Inc., a
Minnesota nonprofit corporation (the "Borrower"), the sole member of which is Augustana Care,
a Minnesota nonprofit corporation and 501(c)(3) organization, the sole member of which is
Cassia, a Minnesota nonprofit corporation and 501(c)(3) organization ("Cassia"), that the City
consent to the issuance by the City of St. Bonifacius, Minnesota (the "Issuer"), of the Issuer's
172086134v2
Healthcare Revenue Bonds (Augustana Chapel View Homes, Inc. Project), Series 2025 (the
"Obligations"), pursuant to the Act, in an amount not to exceed $35,000,000, for the purpose of
(1) financing the acquisition, construction, and equipping of an 88-bed/84-unit skilled nursing
facility (the "Facili "), located at 412 5th Avenue North, in the City, (ii) funding any required
reserve funds; (iii) funding any capitalized interest, and (iv) paying all or a portion of costs of
issuance of the Obligations (the "Project"). The Project will be owned and operated by the
Borrower.
(b) The City has been advised that the Obligations, as and when issued, will not
constitute a charge, lien, or encumbrance, legal or equitable, upon any property of the City or the
Issuer, except the revenues to be derived from one or more loan agreements (the "Loan
Agreement") to be entered into between the Issuer and the Borrower. The Obligations will not
give rise to a pecuniary liability of the City or the Issuer or be a charge against the general credit
or taxing powers of the City or the Issuer, but are payable from sums to be paid by the Borrower
pursuant to the Loan Agreement.
Section 3. Recital of Representations Made by the Borrowers.
(a) The Borrower has agreed to pay any and all costs incurred by the City in
connection with the issuance of the Obligations, whether or not such issuance is carried to
completion.
(b) The Borrower has represented to the City that no public official of the City or the
Issuer has either a direct or indirect financial interest in the Project nor will any public official
either directly or indirectly benefit financially from the Project.
Section 4. Public Hearing.
(a) As required by the Act and Section 147(f) of the Internal Revenue Code of 1986,
as amended (the "Code"), a Notice of Public Hearing was published in the City's official
newspaper and newspaper of general circulation, for a public hearing on the proposed issuance
of the Obligations by the Issuer and the proposal to undertake and finance the Project.
(b) As required by the Act and Section 147(f) of the Code, the City Council of the
City has on this same date held a public hearing on the issuance of the Obligations by the Issuer
and the proposal to undertake and finance the Project located within the jurisdictional limits of
the City, at which all those appearing who desired to speak were heard and written comments
were accepted.
Section 5. Host Approval. The City Council hereby gives the host approval required
under Section 147(f) of the Code and pursuant to Minnesota Statutes, Section 471.656,
Subdivision 2(2), the City Council hereby consents to the issuance of the Obligations by the
Issuer.
(The remainder of this page is intentionally left blank.)
N
172086134v2
Adopted by the City Council of the City of Hopkins, Minnesofa, on April 15, 2025.
Ma
AT T:
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
1b, ,and after full discussion thereof and upon vote being taken thereon, the
following voted in favor thereof
C-�'mit ,m, vx.ia, cq#-Yoc�" "[--P
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
3
1720861342