02-004A EDA
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SHOREWOOD ECONOMIC DEVELOPMENT AUTHORITY
Hennepin County, Minnesota
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RESOLUTION NO. 02 - 004A
RESOLUTION APPROVING AGREEMENTS RELATING TO THE FINANCING OF
CERTAIN PUBLIC SAFETY FACILITIES
BE IT RESOLVED by the Board of Commissioners (Board) of the Shorewood Economic
Development Authority (Authority) as follows:
Section 1. Recitals.
1.01. The City of Shorewood, Minnesota (Shorewood), the City of Deephaven,
Minnesota (Deephaven), the South Lake Minnetonka Police Department (Department), the
Excelsior Fire District (District) and the Shorewood Economic Development Authority
(Authority), have proposed to finance and construct a fire facility located in the City of
Deephaven and a fire and police facility located in the City of Shorewood (the "Projects").
1.02. In order to facilitate this financing, the following documents have been prepared:
a.
b.
c.
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e.
f.
g.
h.
1.
J.
Ground Lease (East Side) between Deephaven and the District
Subground Lease (East Side) between the District and the Authority
Lease Purchase Agreement (East Side) between the Authority and
Deephaven
Sublease Purchase Agreement (East Side) between Deephaven and the
District
Ground Lease (West Side) between the District and the Authority
Lease Purchase Agreement (West Side Fire Facilities) between the
Authority and Shorewood
Sublease Purchase Agreement (West Side Fire Facilities) between
Shorewood and the District
Lease Purchase Agreement (West Side Police Facilities) between the
Authority and Shorewood
Sublease Purchase Agreement (West Side Police Facilities) between
Shorewood and the Department
Declaration Of Cross Easements And Restrictive Covenants between the
District and the Department
("Financing Documents").
k. General Contractor Construction Management Services Agreement (East
Side and West Side Facilities)
1. Architectural Services Agreement (East Side and West Side Facilities)
("Construction Documents").
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1.03. The Board has reviewed the Financing and Construction Documents and has
determined that approval of the Financing and Construction Documents will be in the best
interests of the Authority and will further the public health, safety, and welfare and objectives of
the Authority.
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Section 2. Approvals.
2.01. The Financing Documents are hereby approved, and the authorized officials
directed to execute the Financing Documents to which the Authority is a party,
subject to modifications that do not alter the substance of the transactions and are
approved by such officials. Such officials are hereby authorized in their
discretion to execute and deliver, on behalf of the Authority, such other consents,
affidavits, certificates, and other documents in connection with the Projects and
the issuance, sale, and delivery of bonds, the proceeds of which will be used to
finance the Projects. Execution of the Financing Documents and any other
consents, affidavits, certificates, and other documents is conclusive evidence of
their approval.
2.02. 2.02 The Construction Documents are hereby approved, and the authorized
officials directed to execute the Construction Documents to which the Authority
is a party, subject to modifications that do not alter the substance of the
transactions and are approved by such officials. Such officials are hereby
authorized in their discretion to execute and deliver, on behalf of the Authority,
such other consents, affidavits, certificates, and other documents in connection
with the Projects and the issuance, sale, and delivery of bonds, the proceeds of
which will be used to finance the Projects. Execution of the Construction
Documents and any other consents, affidavits, certificates, and other documents is
conclusive evidence of their approval.
2.02. Authority staff and consultants are authorized to take all actions necessary to
implement the agreements hereby approved.
ADOPTED BY THE BOARD OF COMMISSIONERS OF THE SHOREWOO.q
ECONOMIC DEVELOPMENT AUTHORITY this 26th day of Augus 00.' '",'
ATTEST:
DJG-218796v 1
SH230-33