Res 2013- 50 Call for Public Hear on Rev Note Visitation ProjExtract 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 160'
day of July, 2013, at 7:00 o'clock P.M.
The following members were present:
Council members Duggan, Norton, Petschel, Povolny, Mayor Krebsbach
and the following were absent: None.
Member Petschel introduced the following resolution and moved its adoption:
RESOLUTION 2013-50
RESOLUTION CALLING FOR A PUBLIC HEARING ON
THE ISSUANCE OF A TAX-EXEMPT EDUCATIONAL FACILITY
REVENUE NOTE AND
AUTHORIZING THE PUBLICATION OF A NOTICE OF THE HEARING
(ACADEMY OF THE VISITATION PROJECT)
The motion for the adoption of the foregoing resolution was duly seconded by member
Duggan , and after full discussion thereof and upon vote being taken thereon, the following voted in
favor thereof. Council members Duggan, Norton, Petschel, PovoIny, Mayor Kiebsbach
and the following voted against the same: None.
whereupon said resolution was declared duly passed and adopted.
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RESOLUTION CALLING FOR A PUBLIC HEARING ON
THE ISSUANCE OF A TAX-EXEMPT EDUCATIONAL FACILITY REVENUE NOTE AND
AUTHORIZING THE PUBLICATION OF A NOTICE OF THE HEARING
(ACADEMY OF THE VISITATION PROJECT)
(a) WHEREAS, Minnesota Statutes, Sections 469.152 through 469.1655, as
amended, relating to municipal industrial development (the "Act"), gives municipalities the power to
issue revenue obligations for the purpose of promoting the welfare of the state by the active attraction
and encouragement and development of economically sound industry and commerce to prevent so far
as possible the emergence of blighted and marginal lands and areas of chronic unemployment; and
(b) WHEREAS, the City of Mendota Heights, Minnesota ("Mendota Heights"), has
received from The Convent and the Academy of the Visitation, a Minnesota nonprofit corporation and
501(c)(3) organization (the "Borrower"), a proposal that the City of Lilydale, Minnesota undertake a
program to assist in financing, among other things, a Project described in Exhibit A, which is located
in Mendota Heights, through the issuance of a revenue note or obligation (in one or more series) (the
"Note") pursuant to the Act; and
(c) WHEREAS, Mendota Heights 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 because the facilities to be financed by the Note are located in Mendota
Heights:
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 set
forth in the Notice of Public Hearing attached hereto as Exhibit A.
2. The City Administrator is hereby authorized and directed to cause notice of the hearing
to be given one publication in the official newspaper of Mendota Heights and a newspaper of general
circulation available in Mendota Heights, not less than 14 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 16th day
of July, 2013.
or
ATTEST:
City Administrator
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STATE OF MINNESOTA
COUNTY OF DAKOTA
CITY OF MENDOTA HEIGHTS
1, the undersigned, being the duly qualified and acting City Administrator 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
the approving the issuance of a revenue obligation for a project in the City.
WITNESS my hand this I'Oday of July, 2013.
City Administrator
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EXHIBIT A
NOTICE OF PUBLIC HEARING
ON A PROPOSAL FOR THE ISSUANCE OF A
TAX - EXEMPT EDUCATIONAL FACILITY REVENUE NOTE FOR
THE ACADEMY OF THE VISITATION PROJECT
Notice is hereby given that the City Council of the City of Mendota Heights, Minnesota
(the "City ") will meet at the City Hall, 1101 Victoria Curve, in the City, at 8:00 p.m. on Tuesday,
August 6, 2013 to consider giving host approval to the issuance by the City of Lilydale, Minnesota
( "Issuer ") of a revenue obligation, in one or more series (the "Note "), under Minnesota Statutes,
Sections 469.152 through 469.1655, as amended (the "Act "), in order to finance the cost of a project
located in the City.
The Convent and the Academy of the Visitation, a Minnesota nonprofit corporation and
501(c)(3) organization (the `Borrower "), proposes to finance a Project consisting of financing the
construction and equipping of an approximately 15,000 square foot area comprised of the entrance and
commons to the general school spaces and new classrooms, offices, locker bay, and other space
refurbishment at the "Upper School" located at 2455 Visitation Drive in the City. The Project will be
owned and operated by the Borrower.
The maximum estimated principal amount of the Note to be issued to finance the
Project is $6,000,000.
The Note, if and when issued, will not constitute a charge, lien or encumbrance upon
any property of the City or the Issuer, except the Project, and such obligation will not be a charge
against the general credit or taxing powers of the City or the Issuer but will be payable fiom sums to
be paid by the Borrower pursuant to a revenue agreement.
At the time and place fixed for the public hearing, the City Council will give all persons
who appear at the hearing an opportunity to express their views with respect to the proposal. Written
comments will be considered if submitted at the above City office on or before the date of the hearing.
[Publish no later than July 21, 2013]
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