00-119
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RESOLUTION NO. 00-119
RESOLUTION GIVING HOST APPROVAL TO THE
ISSUANCE OF REVENUE BONDS AND AUTHORIZING
EXECUTION OF A JOINT POWERS AGREEMENT (MOUNT
OLIVET ROLLING ACRES, INC. PROJECT)
WHEREAS, Mount Olivet Rolling Acres, Inc., a Milmesota nonprofit corporation (the
"Borrower"), desires to finance and refinance the acquisition, and construction, improvement,
rehabilitation, equipping. and furnishing of various facilities of the Borrower for the
developmentally disabled, including one or more facilities located in Shorewood, Milmesota (as
specifically described below) (the "City") and including facilities located in other cities or
jurisdictions (as described below), all as further described in Exhibit A (collectively referred to
as the "Development"); and
WHEREAS, the Borrower has proposed that the City of Victoria, Minnesota (sometimes
referred to as the "Issuer"), issue tax exempt revenue bonds in the approximate aggregate
principal amount of $2,250,000 (the "Bonds") to finance the Development, pursuant to
Minnesota Statutes, Chapter 462C, as amended (the "Housing Programs Act"), and Minnesota
Statutes, Section 471.59 (the "Joint Powers Act") (the Housing Programs Act and the Joint
Powers Act together referred to as the "Acts"), and pursuant to the Housing Program therefor on
file in the offices of the City and presented to the governing body of the City in connection with
this Resolution (the "Housing Program"); and
WHEREAS, in connection with the issuance of the Bonds, it is proposed that a Joint
Powers Agreement be entered into by and between the Issuer and each of the other Joint Powers
Participants identified in the Joint Powers Agreement, including the City (all collectively
referred to as the "Joint Powers Participants"), and a copy of the proposed form of the Joint
Powers Agreement has been placed on file with the City in the offices of the Acting City
Administrator and has been presented to the governing body of the City in connection with this
Resolution; and
WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended, requires
that each governmental unit in which facilities to be financed by the Bonds are located must
approve the issuance of the Bonds following a public hearing; and
WHEREAS, a public hearing on this matter was held by the governing body of the City
on the date hereof; and
WHEREAS, the Bonds are payable solely from revenues of the Borrower, will not be a
general or moral obligation of the City or of the Issuer or of any other political subdivision of the
State of Minnesota, but will be payable solely from revenues of the Borrower, to the extent and
in the manner provided in the Acts and the documents executed in connection with the issuance
of the Bonds;
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NOW, THEREFORE, BE IT RESOLVED by the City Council ofthe City of Shorewood,
Minnesota, as follows:
1. The City hereby gives the host approval required under Section 147(f) of the
Internal Revenue Code to the issuance of the Bonds and hereby approves the Housing Program.
2. In no event shall the Bonds ever be payable from or charged upon any funds of
the City; the City is not subject to any liability thereon; no owners of the Bonds shall ever have
the right to compel the exercise of the taxing power 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;
and the Bonds, do not constitute an indebtedness of the City within the meaning of any
constitutional, statutory, or charter limitation.
3. The Joint Powers Agreement is hereby approved in substantially the form now on
file in the offices ofthe City, together with such modifications thereto as may be approved by the
officers executing the Joint Powers Agreement, which approval shall be conclusively evidenced
by the execution thereof; and the Mayor and Acting City Administrator or other officers of the
City are authorized to execute the same in the name of and on behalf of the City. In the event of
the disability or the resignation or other absence of the Mayor or Acting City Administrator of
the City, such other officers of the City who may act in their behalf shall without further act or
authorization of the City do all things and execute all instruments and documents required to be
done or to be executed by such absent or disabled officials. The approval hereby given to the
Joint Powers Agreement includes approval of such additional details therein as may be necessary
and appropriate and such modifications thereof, deletions therefrom and additions thereto as may
be necessary and appropriate and approved by the officers of the City authorized herein to
execute the Joint Powers Agreement, such approval to be conclusively evidenced by the
execution thereof.
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Adopted by the City Council of the City of Shorewoodl/Mitmesota this 11 th day of
December, 2000. /1. / .
{LU
Mayor
ATTEST:
b/J~6gl. iL~
Acting City Ad / Istrator/
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EXHIBIT A
(Description of Development)
The Development consists of the acquisition and construction of improvements, including
equipment, furnishings and site improvements, to the existing facilities of the Borrower for the
developmentally disabled located at 7200 Rolling Acres Road in the City of Victoria (referred to
generally as the "Victoria Project"), together with the following: (1) the refinancing,
rehabilitation, equipping and furnishing of various existing facilities ofthe Borrower (sometimes
referred to as the "Refinancing and Rehabilitation Projects"), located in other cities or
jurisdictions (at specific addresses set Jorth below); and (2) the acquisition, construction,
improvement, rehabilitation, equipping and furnishing of new and/or existing facilities for the
developmentally disabled in such cities or jurisdictions and in Aiken County, Minnesota (and/or
in other locations, as necessary and suitable, to the extent permitted by law).
The Refinancing and Rehabilitation Projects included in the Development will each consist of
the rehabilitation of one or more existing buildings and sites located in other cities or
jurisdictions outside of the City, and the discharge of any lien or other interest in those buildings
and sites. The cost of rehabilitation of each ofthese existing buildings will be equal to at least
$1,000 per dwelling unit, all as provided in and required by the Housing Programs Act. The
Development will also include the acquisition, construction, improvement, rehabilitation,
equipping and furnishing of facilities for the developmentally disabled in those same cities or
jurisdictions and in the County of Aiken.
The facilities included in the Development are situated at the following locations: 7200
Rolling Acres Road, Victoria, Minnesota (serving 44 persons); 129 Mackenthun Lane, Norwood-
Young America, Minnesota (serving 6 persons); 1757 Highwood Drive, Chaska, Minnesota
(serving 4 persons); 320 East Fifth Street Northeast, Mayer, Minnesota (serving 4 persons); 241
West Third Street, Waconia, Minnesota (serving 4 persons); 3921 Leslie Curve, Chanhassen,
Minnesota (serving 4 persons); 112209 James Court, Jonathan, Minnesota (serving 4 persons);
25925 Birch Bluff, Shorewood, Minnesota (serving 4 persons); 6843 and 6845 Lyndale Avenue
South, Richfield, Minnesota (serving 6 persons); 7829 Tessman Drive, Brooklyn Park,
Minnesota (serving 4 persons); 8217 29th Avenue South, New Hope, Minnesota (serving 4
persons); 2413 Plymouth Road, Minnetonka, Minnesota (serving 4 persons); and Route T, Jevne
Township, McGregor, Minnesota (serving a minimum of20 persons).
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STATE OF MINNESOTA)
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COUNTY OF HENNEPIN )
I, the undersigned, being the duly qualified and acting City Administrator of the City of
Shorewood, Minnesota, do hereby certify that I have compared the attached and foregoing
extract of minutes with the Oliginal thereof on file in my office, and that the same is a full, true
and complete transcript of the minutes of a meeting of the City Council of said City duly called
and held on the date therein indicated, insofar as such minutes relate to a resolution giving host
approval to the issuance of revenue bonds and authorizing execution of a Joint Powers
Agreement, all in connection with a Development being undertaken by Mount Olivet Rolling
Acres, Inc., a Minnesota nonprofit corporation.
WITNESS My hand this ~ay of December, 2000.
&~1t t~
Acting City A Wstrator