Res 2020- 47 Call Public Hearing for Augustana Care Refunding NotesExtract of Minutes of a Meeting of the
City Council of the
City of Mendota Heights, Minnesota
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City
of Mendota Heights, Minnesota, was duly held at the City Hall in said City on Tuesday, the 4th day of
August, 2020, at 5:00 o'clock P.M.
The following members were present: Mayor Garlock, Councilors Duggan, Miller,
Paper, Petschel.
and the following were absent: none
Member Petschel introduced the following resolution and moved its adoption:
RESOLUTION 2020 - 47
RESOLUTION CALLING FOR A PUBLIC HEARING ON APPROVING THE ISSUANCE OF
SENIOR HOUSING REVENUE REFUNDING NOTES TO FINANCE A PROJECT BY
AUGUSTANA CARE AND AUTHORIZING THE
PUBLICATION OF A NOTICE OF THE HEARING
(AUGUSTANA REGENT AT BURNSVILLE PROJECT)
The motion for the adoption of the foregoing resolution was duly seconded by member
Miller, and after full discussion thereof and upon vote being taken thereon, the following voted in favor
thereof: Mayor Garlock, Councilors Duggan, Miller, Paper, Petschel
and the following voted against the same: none
whereupon said resolution was declared duly passed and adopted.
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CITY OF MENDOTA HEIGHTS
DAKOTA COUNTY, MINNESOTA
RESOLUTION 2020-47
RESOLUTION CALLING FOR A PUBLIC HEARING ON APPROVING THE ISSUANCE
OF SENIOR HOUSING REVENUE REFUNDING NOTES TO FINANCE A PROJECT BY
AUGUSTANA CARE AND AUTHORIZING THE
PUBLICATION OF A NOTICE OF THE HEARING
(AUGUSTANA REGENT AT BURNSVILLE PROJECT)
WHEREAS, the purpose of Minnesota Statutes, Chapter 462C (the "Act"), is among
other things, to confer upon cities the power to issue revenue bonds to finance projects as defined therein;
and
WHEREAS, the City of Mendota Heights, Minnesota (the "City") has received from
Augustana Regent at Burnsville, LLC (the 'Borrower"), a Minnesota limited liability company, the sole
member of which is Augustana Care, a Minnesota nonprofit corporation and 501(c)(3) organization, the
sole member of which is Cassia, a Minnesota nonprofit corporation and 501(c)(3) organization, a
proposal that the City assist in refinancing a Project described in Exhibit A, which is located in the City
of Burnsville, through the issuance of revenue notes or obligations (in one or more series) (the "Notes")
pursuant to the Act; and
WHEREAS, the City has been advised that a public hearing and City Council approval
of the financing of the Project is required under the Act and Section 147(f) of the Internal Revenue Code
of 1986, as amended;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Mendota
Heights, Minnesota, as follows:
1. A public hearing on the proposal of the Borrower will be held at the time and place
determined by the City Administrator. The general nature of the Project and an estimate of the aggregate
principal amount of the Notes or other obligations to be issued to finance the Project are described in
the Notice of Public Hearing.
2. The City Administrator is hereby authorized and directed to cause notice of the hearing
to be given one publication in the official newspaper and newspaper of general circulation available in
the City, not less than 15 days nor more than 30 days prior to the date fixed for the hearing, substantially
in the form of the attached Notice of Public Hearing.
Adopted by the City Council of the City of Mendota Heights, Minnesota, this 4th day of
August, 2020.
ATTEST-
-ZVV-1tX0
Clerk
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Mayor
STATE OF MINNESOTA
COUNTY OF DAKOTA
CITY OF MENDOTA HEIGHTS
I, the undersigned, being the duly qualified and acting Clerk of the City of Mendota
Heights, Minnesota, DO HEREBY CERTIFY that I have compared the attached and foregoing extract
of minutes with the original thereof on file in my office, and that the same is a full, true and complete
transcript of the minutes of a meeting of the City Council of said City duly called and held on the date
therein indicated, insofar as such minutes relate to calling for a public hearing on approving the issuance
of revenue obligations. .N.
WITNESS my hand this �� d y of August, 2020.
Clerk
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EXHIBIT A
NOTICE OF PUBLIC HEARING ON A
PROPOSAL FOR ISSUANCE OF SENIOR HOUSING REVENUE REFUNDING NOTES
(AUGUSTANA REGENT AT BURNSVILLE PROJECT)
Notice is hereby given that the City Council of the City of Mendota Heights, Minnesota (the
"City"), will meet in City Council chambers at the Mendota Heights City Hall, 1101 Victoria Curve, in
the City, at 5:00 p.m. on Tuesday, August 4, 2020, to consider the City adopting a housing program to
refinance, in part, a project hereinafter described pursuant to Minnesota Statutes, Chapter 462C, by the
issuance of revenue notes or other obligations (the "Notes") by the City and one or more other
governmental issuers (with the City, the "Issuers").
Augustana Regent at Burnsville, LLC (the "Borrower"), a Minnesota limited liability company,
the sole member of which is Augustana Care, a Minnesota nonprofit corporation and 501(c)(3)
organization, the sole member of which is Cassia, a Minnesota nonprofit corporation and 501(c)(3)
organization, proposes to (a) refinance certain tax-exempt and taxable obligations of the Borrower, the
proceeds of which were used for the acquisition of a Project consisting of 148 units of senior housing,
including independent living, assisted living, and memory care units, located at 14500 Regent Lane in
Burnsville, Minnesota (the "Project") and (b) finance certain improvements to the lobby, dining room,
and apartments, and furniture upgrades. The Project, known as The Regent at Burnsville, is and will be
owned and operated by the Borrower.
The aggregate estimated principal amount of the Notes to finance the Project and related costs
will be an amount not to exceed $23,000,000, with the aggregate estimated principal amount to be issued
by the City not to exceed $3,000,000.
The obligations, as and when issued, will not constitute a charge, lien, or encumbrance upon any
property of the Issuers or the City of Burnsville, except the Project and the revenues to be derived from
the Project. Such notes or obligations will not be a charge against the Issuers' or the City of Burnsville's
general credit or taxing powers but are payable from sums to be paid by the Borrower pursuant to a
revenue agreement.
A draft copy of the proposed housing program is available for inspection at City Hall during
normal business hours.
At the time and place fixed for the public hearing, the City Council of the City will give all
persons who appear at the hearing an opportunity to express their views with respect to the proposal for
the housing program and the Notes. Written comments will be considered if submitted at the above City
office on or before the date of the hearing.
BY ORDER OF THE CITY COUNCIL OF THE CITY
OF MENDOTA HEIGHTS, MINNESOTA
By Mark McNeill
Its Administrator
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