City Council Resolution 2009-64City of Monticello
RESOLUTION NO. 2009-64
RESOLUTION CALLING FOR A PUBLIC HEARING ON AN ISSUE OF
REVENUE BONDS BY THE CITY OF ST. CLOUD ON BEHALF OF
CENTRACARE HEALTH SYSTEM
BE IT RESOLVED by the City Council of the City of Monticello, Minnesota
(the "City "), as follows:
1. CentraCare Health System, a Minnesota nonprofit corporation, on behalf of
itself and its nonprofit affiliates (the "Corporation "), has advised this Council of its desire to
refinance all or a portion of the Health Care Revenue Bonds (The Saint Cloud Hospital
Obligated Group), Series 2000 -A (the "Refunded Bonds ") issued by the City of St. Cloud,
Minnesota (the "Issuer ") on behalf of the Corporation to finance and refinance certain facilities
of the Corporation, including but not limited to St. Benedict's Senior Community — Monticello,
located at 1301 and 1305 Seventh Street in the City, all with the proceeds of revenue bonds (the
"Bonds ") issued by the Issuer under the authority of Minnesota Statutes, Chapter 462C and
Sections 469.152 through 469.165.
2. Since a portion of the facilities proposed to be refinanced by the Bonds are
located in the City, Section 147(f) of the Internal Revenue Code of 1986, as amended, and
regulations promulgated thereunder, require that prior to the issuance of the Bonds, this Council
approve the issuance of the Bonds by the Issuer, after conducting a public hearing thereon. A
public hearing on the proposal that the Issuer issue the Bonds is hereby called and shall be held
on November 23, 2009, at 7:00 p.m., in the Council Chambers of the City of Monticello.
3. The City Clerk shall cause notice of the public hearing, in substantially the
form attached hereto as Exhibit A, to be published in a newspaper of general circulation in the
City, once not fewer than 14 days prior to the date fixed for the public hearing.
Adopted by the City Council of the City of Monticello on this 9th day of
November, 2009.
Clint Herbst, Mayor
ATTEST:
I� OAffl, City Administrator