98-005 - 01-20 Authorizing the City of Buffalo to Refund Outstanding Revenue Bonds, Series 1991 (Covenant Retirement Communities)Resolution 98-5
January 20, 1998
Member LeSuer introduced the following resolution and moved its adoption:
RESOLUTION AUTHORIZING THE CITY OF BUFFALO TO
REFUND OUTSTANDING REVENEUE BONDS, SERIES 1992
(COVENANT RETIREMENT COMMUNITIES, INC.)
BE IT RESOLVED by the City Council of the City of Golden Valley, as follows:
1. The City of Buffalo has heretofore issued its Revenue Bonds, Series 1992
(Covenant Retirement Communities, Inc.) (the "Prior bonds") in part on behalf of the City of
Golden Valley pursuant to a Joint Powers Agreement between the City of Buffalo and the
City of Golden Valley. A portion of the proceeds of the Prior Bonds provided financing for
Covenant Manor in the City. The City of Buffalo has authorized the issuance of Revenue
Refunding Bonds, Series 1998 (Covenant Retirement Communities, Inc.) (the "Refunding
Bonds") to refund the Prior Bonds.
2. The City of Golden Valley hereby gives its consent to the City of Buffalo to issue the
Refunding Bonds pursuant to Minnesota Statutes, Chapter 462C and Section 462A.08,
Subd. 2. The officers of the City are authorized to provide a copy of this resolution or
other evidence of such consent to the City of Buffalo and the purchasers of the Refunding
Bonds.
Mary E. nderson, Mayor
ATTEST:
The motion for the adoption of the foregoing resolution was seconded by Member Johnson
and upon a vote being taken thereon, the following voted in favor thereof: Anderson,
Bakken, Johnson, LeSuer, and Micks; and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted, signed by the Mayor
and her signature attested by the City Clerk.