City Council Resolution 2016-19CITY OF MONTICELLO
WRIGHT COUNTY, MINNESOTA
RESOLUTION NO. 2016-019
APPROVING THE ISSUANCE OF REVENUE BONDS BY
THE CITY OF ST. CLOUD ON BEHALF OF
CEN'1[ RACARE HEALTH SYSTEM
BE IT RESOLVED by the City Council of the City of Monticello, Minnesota (the
"City "), as follows:
SECTION 1
Recitals and Findings
I.I. CentraCare Health System, a Minnesota nonprofit corporation (the
"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 (the "Facilities ") with the proceeds of revenue bonds (the "Bonds ") issued by
the City of St. Cloud, Minnesota (the "Issuer "), under the authority of Minnesota Statutes,
Sections 469.152 through 469.165 and Chapter 462C, as amended (the "Act "). The Bonds are
proposed to be issued in an aggregate amount which is not expected to exceed $275,000,000, the
proceeds of which will be used to finance and refinance in part 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.
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
refinance the Facilities 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 City
Administrator before the time of the hearing.
SECTION 2
Approvals
2.1. The issuance of Bonds by the Issuer pursuant to the Act to refinance the
Facilities is hereby consented to and approved. The terms of the Bonds shall be as are approved
by the governing body of the Issuer.
2.2. The Mayor and City Administrator and other officers of the City 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.
2016. Adopted by the City Council of the City of Monticello on this 28th day of March,
ATTEST
JefPWill, City Administrator
CITY OF MONTICELLO
Brian Stumpf, May
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