City Council Resolution 2014-89CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2014-089
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, Series 2010A (CentraCare Health
System) (the "Refunded Bonds "), issued by the City of St. Cloud, Minnesota (the "Issuer ") on
behalf of the Corporation to refinance all or a portion of the Health Care Revenue Bonds (The
Saint Cloud Hospital Obligated Group), Series 2000 -A, the proceeds of which were used 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 September 22, 2014, at 7:00 o'clock P.M., at City Hall.
3. The City Administrator 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 8th day of
September, 2014.
CITY OF MONTICELLO
,'v a
Clint Herbst, Mayor
ATTEST
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Jeff 61N,0VCity Administrator
EXHIBIT A
CITY OF MONTICELLO
505 WALNUT AVE., SUITE ONE
MONTICELLO, MINNESOTA
NOTICE OF PUBLIC HEARING ON THE ISSUANCE OF REVENUE BONDS BY THE
CITY OF ST. CLOUD UNDER MINNESOTA STATUTES, CHAPTER 462C AND
SECTIONS 469.152 TO 469.165,
ON BEHALF OF CENTRACARE HEALTH SYSTEM
NOTICE IS HEREBY GIVEN that a public hearing shall be conducted by the City
Council of the City of Monticello, Minnesota (the "City "), at the City offices, 505 Walnut Ave.,
Suite One, on September 22, 2014, at 7:00 p.m., on a proposal that the City of St. Cloud,
Minnesota (the "Issuer ") issue revenue bonds (the "Bonds ") on behalf of CentraCare Health
System, a Minnesota nonprofit corporation and its nonprofit affiliates (the "Corporation "), in one
or more series, pursuant to Minnesota Statutes, Chapter 462C and Sections 469.152 to 469.165,
in an amount not to exceed $55,000,000, for the purpose of refunding a portion of the Issuer's
Health Care Revenue Bonds, Series 2010A (CentraCare Health System), issued on behalf of the
Corporation (the "Refunded Bonds "). A portion of the proceeds of the Refunded Bonds were
used to refinance the Issuer's Health Care Revenue Bonds (The Saint Cloud Hospital Obligated
Group), Series 2000 -A, the proceeds of which were used in part to finance the acquisition,
construction and equipping of St. Benedict's Senior Community — Monticello, located at 1301
and 1305 Seventh Street in the City (the "Facilities "). The Facilities are operated by Saint Cloud
Hospital, an affiliate of the Corporation. The Bonds will not be issued by the City of Monticello.
All persons interested may appear and be heard at the time and place set forth above, or
may submit written comments with the Administrator prior to the date of the hearing set forth
above.
Dated: September 4, 2014.
By s/ Jeff O'Neill
City Administrator
City of Monticello
CERTIFICATION
STATE OF MINNESOTA
COUNTY OF WRIGHT
I hereby certify that the foregoing is a true and correct copy of Resolution #2014-089
duly passed, adopted and approved by the Monticello City Council at their scheduled meeting on
September 8, 2014, and recorded in minutes of said meeting.
Caiterine M. ShAian' -'Deputy Clerk
n.
Notary Public:
Date:
M .
VICKI JAN LEERHOFF
Notary Public-Minnesota
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