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Resolution 84-3170 Chapel View ProjectT Issuer: City of Hopkins, Minnesota Governing Body: City Council Kind, date, time and place of meeting: A meeting held on November 20, 1984 at 7:30 o'clock p.m. at the Hopkins City Hall, 1010 First Street South, Hopkins, Minnesota Members Present: Members Absent: CERTIFICATION OF MINUTES RELATING TO $3,945,000 CITY OF HOPKINS, MINNESOTA INDUSTRIAL DEVELOPMENT REVENUE BONDS (CHAPEL VIEW, INC. PROJECT) SERIES 1984 Shirley, Milbert, Lavin, Anderson Miller Documents Attached: Minutes of said meeting (pages): RESOLUTION NO. 1 . RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HOPKINS, MINNESOTA APPROVING THE ISSUANCE AND SALE OF $3,945,000 AGGREGATE PRINCIPAL AMOUNT OF HOUSING MORTGAGE REVENUE BONDS (CHAPEL VIEW, INC. PROJECT) SERIES 1984 OF THE CITY OF HOPKINS; AUTHORIZING EXECUTION OF A TRUST INDENTURE, LOAN AGREEMENT, AND BOND PURCHASE AGREEMENT AND AUTHORIZING THE USE OF AN OFFICIAL STATEMENT, ALL RELATING TO THE SERIES 1984 BONDS. I, the undersigned, being the duly qualified and acting recording officer of the municipal corporation issuing the Series 1984 Bonds referred to in the title of this certificate, certify that the documents attached hereto, as described above, have been carefully compared with the original records of said corporation in my legal custody, from which they have been transcribed; that said documents are a correct and complete transcript of the minutes of a meeting of the governing body of said corporation, and correct and complete copies of all resolutions and other • actions taken and of all documents approved by the governing body at said meeting, so far as they relate to said Series 1984 Bonds; and that said meeting was duly held by the governing body at the time and place and was attended throughout by the members indicated above, pursuant to call and notice of such meeting given as required by law and that said resolution was adopted by the requisite vote required under the charter of sa -id City, signed by the Mayor and is in full force and effect. WITNESS, my hand officially as such recording officer of the City this o2 o day of November, 1984. (SEAL) City Clerk CERTIFICATION OF MINUTES RELATING TO $3,945,000 CITY OF HOPKINS, MINNESOTA INDUSTRIAL DEVELOPMENT REVENUE BONDS (CHAPEL VIEW, INC. PROJECT) SERIES 1984 Issuer: City of Hopkins, Minnesota Governing Body: City Council Kind, date, time and place of meeting: A meeting held on November 20, 1984 at 7:30 o'clock p.m. at the Hopkins City Hall, 1010 First Street South, Hopkins, Minnesota Members Present: Members Absent: Documents Attached: Minutes of said meeting (pages): RESOLUTION NO. 84 -3170 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HOPKINS, MINNESOTA APPROVING THE ISSUANCE AND SALE OF $3,945,000 AGGREGATE PRINCIPAL AMOUNT OF HOUSING MORTGAGE REVENUE BONDS (CHAPEL VIEW, INC. PROJECT) SERIES 1984 OF THE CITY OF HOPKINS; AUTHORIZING EXECUTION OF A TRUST INDENTURE, LOAN AGREEMENT, AND BOND PURCHASE AGREEMENT AND AUTHORIZING THE USE OF AN OFFICIAL STATEMENT, ALL RELATING TO THE SERIES 1984 BONDS. I, the undersigned, being the duly qualified and acting recording officer of the municipal corporation issuing the Series 1984 Bonds referred to in the title of this certificate, certify that the documents attached hereto, as described above, have been carefully compared with the original records of said corporation in my legal custody, from which they have been transcribed; that said documents are a correct and complete transcript of the minutes of a meeting of the governing body of said corporation, and correct and complete copies of all resolutions and other actions taken and of all documents approved by the governing body at said meeting, so far as they relate to said Series 1984 Bonds; and that said meeting was duly held by the governing body at the time and place and was attended throughout by the members indicated above, pursuant to call and notice of such meeting given as required by law and that said resolution was adopted by the requisite vote required under the charter of said City, signed by the Mayor and is in full force and effect. WITNESS, my hand officially as such recording officer of the City this day of November, 1984. (SEAL) City Clerk Councilmember, Anderson , introduced the following Resolution and moved its adoption: RESOLUTION NO. 84 - 3170 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HOPKINS, MINNESOTA APPROVING THE ISSUANCE AND SALE OF $3,945,000 AGGREGATE PRINCIPAL AMOUNT OF HOUSING MORTGAGE REVENUE BONDS (CHAPEL VIEW, INC. PROJECT) SERIES 1984 OF THE CITY OF HOPKINS; AUTHORIZING EXECUTION OF A TRUST INDENTURE, LOAN AGREEMENT, AND BOND PURCHASE AGREEMENT AND AUTHORIZING THE USE OF AN OFFICIAL STATEMENT, ALL RELATING TO THE SERIES 1984 BONDS. Be it ordained by the Council of the City of Hopkins, Minnesota as follows: 1. It has been proposed that the City issue its Housing Mortgage Revenue Bonds (Chapel View, Inc. Project) Series 1984, dated November 1, 1984 (the "Bonds ") to finance the construction and equipping of a facility for housing for the elderly in the City on behalf of Chapel View, Inc., a Minnesota non - profit corporation (the "Borrower "). The following documents relating to the Bonds have been submitted to the Council and are now or shall be placed on file in the office of the Secretary to the Council: (a) Loan Agreement, dated November 1, 1984 proposed to be made and entered into between the City and the Borrower; (b) Trust Indenture, dated November 1, 1984 (the "Indenture ") proposed to be made and entered into between the City and National City Bank of Minneapolis, in Minneapolis, Minnesota, as Trustee; (c) Bond Purchase Agreement proposed to be made and entered into between the City, the Borrower and the Underwriter. 2. It is hereby found, determined and declared that: (a) The issuance of the Bonds is authorized by Minnesota Statutes Chapter 462C (the "Act ") and it is necessary and desirable that the Bonds in an amount not to exceed $3,945,000 be issued by the City upon the terms set forth in the Indenture, under the provisions of which Indenture the City's interest in the Loan Agreement and the payments thereunder will be pledged to the Trustee as security for the payment of principal and interest on the Bonds; (b) The payments required by the Loan Agreement are fixed and required to be revised from time to time as necessary, so as to produce income and revenues sufficient to provide for prompt payment of principal of and interest on all Bonds issued under the Indenture when due, and the Loan Agreement also provides that the Borrower is required to pay all expenses of the operation and maintenance of the Project including, but without limitation, adequate insurance thereon and insurance against all liability for injury to persons or property arising from the operation thereof, and all taxes and special assessments levied upon or with respect to the Project and payable during the term of the Loan Agreement; and (c) Under the provisions of the Act, and as provided in the Loan Agreement and Indenture, the Bonds are not to be payable from nor charged upon any funds other than the revenues pledged to the payment thereof; the City is not subject to any liability thereon; no holders of the Bonds shall ever have the right to compel any exercise of the taxing powers of the City to pay any of the Bonds or the interest thereon, nor to enforce payment thereof against any property of the City; the Bonds shall not constitute a charge, lien or encumbrance, legal or equitable upon any property of the City; each Bond issued under the Indenture shall recite that the Bonds, including interest thereon, are payable solely from the revenue pledged to the payment thereof; and no Bond shall constitute a debt of the City within the meaning of any constitutional or statutory limitation. 3. The forms of Loan Agreement, Indenture and Bond Purchase Agreement referred to in Paragraph 1 are approved. Said documents are directed to be executed in the name and on behalf of the City by the Mayor and City Manager, in substantially the form on file, but with such changes therein, not inconsistent with the Act or other law, as may be approved by the Mayor, City Manager or City Attorney, which approval shall be conclusively evidenced by the execution thereof. Copies of all of the documents shall be delivered, filed and recorded as provided therein. The City hereby authorizes the preparation of, and consents to the distribution of, a Preliminary Official Statement to prospective purchasers of the Bonds and the preparation and distribution of a final Official Statement, but assumes no responsibility for the contents thereof. The City hereby acknowledges that pursuant to a Combination Mortgage, Security Agreement and Fixture Financing Statement, the Borrower will grant to the Trustee certain mortgage liens, security interests and pledges. The City hereby consents and approves the granting of such security. 4. The Bonds to be issued pursuant to the Indenture shall not exceed $3,945,000 in principal amount and shall bear interest at rates not in excess of those set forth in the Indenture submitted to this meeting. Subject to the foregoing the Mayor and City Manager are authorized to approve the final terms and conditions of the Bonds, such approval to be conclusively evidenced by their execution and delivery of the Indenture. 5. The Mayor and City Manager are further authorized and directed to prepare and execute the Bonds as prescribed in the Indenture and to deliver them to the Trustee, together with a certified copy of this Resolution and other documents required by the Indenture for authentication and delivery to the Underwriter. The Mayor, City Manager and other officers of the City are authorized and directed to prepare and furnish to the purchaser of the Bonds and Lindquist & Vennum, bond counsel, certified copies of all proceedings and records of the City relating to the Bonds, and such other affidavits and certificates as may be required by bond counsel, and approved by the City Attorney, to show the facts relating to the legality and marketability of the Bonds. Adopted by the City Council, the City of Hopkins, Minnesota this 20th day of November, 1984. Attest: City Clerk Signed: Milbert, Lavin, Shirley, Anderson Mayor The motion for the adoption of the foregoing Resolution was duly seconded by Councilmember Shirley and upon vote being taken thereon the following voted in favor thereof: and the following voted against the same: None Whereupon the Resolution was declared duly passed and adopted.