City Council Resolution 2009-69CITY OF MONTICELLO
RESOLUTION NO. 2009-69
APPROVING THE ISSUANCE OF BONDS BY THE CITY OF ST. CLOUD,
MINNESOTA, ON BEHALF OF CENTRACARE HEALTH SYSTEM
UNDER MINNESOTA STATUTES, SECTIONS 469.152 TO 469.165
BE IT RESOLVED by the City Council of the City of Monticello, Minnesota, as follows:
SECTION 1
Recitals and Findings
1.1. CentraCare Health System, a Minnesota nonprofit corporation ( "System "),
has advised this Council of its desire to refinance the acquisition, construction and equipping of
St. Benedict's Senior Community — Monticello, located at 1301 and 1305 Seventh Street in the
City of Monticello with the proceeds of revenue bonds issued by the City of St. Cloud ( "Issuer ")
under the authority of Minnesota Statutes, Sections 469.152 through 469.165. The Bonds are
proposed to be issued in an aggregate amount which is not expected to exceed $200,000,000, the
proceeds of which will be used to refinance the acquisition, construction, renovation, remodeling
and equipping by the System or its affiliates of health care facilities located in the Cities of St.
Cloud, Melrose and Long Prairie, Minnesota, in addition to the City of Monticello ( "Act ").
Approximately $13,000,000 of proceeds of the bonds proposed to be refinanced by the Bonds
were spent on the Facilities in the City.
1.2. At a public hearing held on the date hereof, all parties who appeared at the
hearing were given an opportunity to express their views with respect to the proposal to refund
the Refunded Bonds through the issuance of the Bonds under the Act by the Issuer, and
interested persons were given the opportunity to submit written comments to the Monticello City
Administrator before the time of the hearing.
SECTION 2
Approvals
23, The issuance of Bonds by the Issuer pursuant to the Act to refund the Bonds
is hereby consented to and approved. The terms of the Bonds shall be as are approved by the
governing body of the Issuer,
12. The Mayor and City Administrator and other officers of the City of
Monticello are authorized and directed to furnish to the System, the Issuer and the attorneys
rendering an opinion on the issuance of the Bonds, certified copies of all proceedings and records
of the City relating to the Bonds and such other affidavits and certificates as may be required to
show the facts relating to the legality and marketability of the Bonds as such facts appear from
the books and records in the officer's custody and control or as otherwise known to them, and all
such certified copies, certificates and affidavits, including any heretofore furnished, shall
constitute representations of the City as to the truth of all statements contained therein.
Adopted by the City Council of the City of Monticello on this 23`d day of
November, 2009.
Mayor Clint Herbst
JeTIO1001 City Administrator
Voting in favor:
Voting in opposition:
Said resolution was declared duly passed and adopted.