84-029 - 04-03 - Public Hearing Proposal Undertake Finance Nursing Home Minnesota Statutes, Chapter 474 - Unicare Homes, Inc.Resolution 84-29
April 3, 1984
Member Stockman introduced the following resolution and moved its adoption:
RESOLUTION CALLING A PUBLIC HEARING ON A PROPOSAL
TO UNDERTAKE AND FINANCE A NURSING HOME PROJECT
UNDER MINNESOTA STATUTES, CHAPTER 474
WHEREAS, Unicare Homes, Inc., a Delaware corporation (the "Company"), has
presented the City Council (the "Council") of the City of Golden Valley, Minnesota
(the "City"), with information concerning a proposed project (the "Project")
within the City; and
WHEREAS, the Company has requested that the City issue its revenue obligations
under Minnesota Statutes, Chapter 474, to provide financing to the Company for
the Project:
NOW, THEREFORE, BE IT RESOLVED by the Golden Valley City Council as follows:
1. This Council will conduct a public hearing on the proposal to undertake
and finance the Project, as described in the Notice of Public Hearing attached
to and made a part of this resolution (the "Notice").
2. The City Clerk is hereby authorized to cause the Notice or a notice in
substantially the same form thereof to be published in the City's official
newspaper and in a newspaper of general circulation in the City not more than 30
nor less than 15 days prior to the date of the public hearing specified in the
Notice.
3. The City Clerk shall file in his or her office, and there make available
for public inspection following the publication of the Notice, a draft copy of
the application for approval of the Project, including all required attachments
and exhibits thereto, proposed to be made to the Minnesota Energy and Economic
Development Authority.
�/ ,, ty--�.,
"/ -
ary E.,'A'nderson, Mayor
ATTEST:
John P rp y, City Clerk
The motion for the adoption of the foregoing resolution was seconded by Member
Bakken and upon a vote being taken thereon, the following voted in favor
thereof: Bakken, Stockman and Thompson, and the following voted against the
same: Anderson and Johnson, whereupon said resolution was declared duly passed
and adopted, signed by the Mayor and her signature attested by the City Clerk.
Resolution 84-29 - Continued April 3, 1984
Notice of Public Hearing
Nursing Home Revenue Bonds
City of Golden Valley, Minnesota
Notice is hereby given that a public hearing will be conducted by the City
Council of the City of Golden Valley, Minnesota, at 7:30 o'clock p.m., C.T. at
the City Hall, 7800 Golden Valley Road, Golden Valley, Minnesota, at a meeting
of the City Council to be held on May 1, 1984. At the public hearing the
Council will consider a proposal that the City assist the financing of a nursing
home project by issuing its bonds or other obligations pursuant to Minnesota
Statutes, Chapter 474.
The proposed project consists of the acquisition and renovation of nursing
home facilities (the "Project"), located within the City at 7505 Country Club
Drive, by Unicare Homes, Inc., a Delaware corporation (the "Company"). It is
proposed that the City assist financing the Project from the proceeds of an
issue of the City's nursing home revenue obligations in an amount presently
estimated not to exceed $10,000,000. If issued, such obligations would be
payable from lease payments or loan repayments to be made or secured by the
Company.
A draft copy of the proposed application to the Minnesota Energy and Economic
Development Authority for approval of the Project is available for public inspection
in the office of the City Clerk.
All persons appearing at the public hearing will be given an opportunity to
present their oral or written comments on the proposal that the City undertake
and finance the Project.