The URL can be used to link to this page

Home My WebLink About85-167 - ADMIN Resolution - City Council - 1985/10/14RESOLUTION NO. 85-167 A RESOLUTION OPPOSING ADOPTION OF A PROPOSED FCC RULE TO DELETE CURRENT FCC TECHNICAL SERVICE QUALITY STANDARDS AND TO PRE-EMPT LOCAL ENFORCEMENT OF TECHNICAL SERVICE QUALITY STANDARDS WHEREAS, technical specifications and standards for a cable communications system are important issues to local consumers of cable television services; and WHEREAS, the City of St. Louis Park, Minnesota, has negotiated technical standards with the local cable operator which are included in the City of St. Louis Park Franchise Ordinance; and WHEREAS, the Cable Communications Policy Act of 1984 has authorized local franchising authorities to enact and enforce consumer protection standards; and NOW, THEREFORE, BE IT RESOLVED that the City of St. Louis Park, Minnesota, opposes the adoption of the Proposed Rule set forth in MM Docket No. 85-38; FCC 85-66 which would delete current FCC technical service quality standards and pre-empt local enforcement of franchise ordinance provisions establishing technical service quality standards. Adopted by the City Council October 14, 1985 Ma r Attest: X.J di&Ai� - City Clefk Reviewed for administration: y Manager Approved as to form and legality: qty Attorney CERTIFICATE OF MINUTES RELATING TO Hospital Facilities Revenue Bonds (Methodist Hospital Project) Issuer: City of St. Louis Park, Minnesota Governing Body: City Council Kind, date, time and place of meeting: A special meeting held on October 14, 1985, at the City Hall in St. Louis Park, Minnesota. Members present: Councilmen Meland, Backes, Duffy and Mayor Hanks Members absent: Councilmen Martin & Mitchell Documents attached: Minutes of said meeting (pages): RESOLUTION NO. 85-168 RESOLUTION AUTHORIZING THE ISSUANCE AND SALE BY THE CITY OF ITS HOSPITAL FACILITIES REVENUE BONDS (METHODIST HOSPITAL PROJECT), SERIES 1985, AUTHORIZING EXECUTION OF A BOND PURCHASE AGREEMENT RELATING TO SAID BONDS, AND AUTHORIZING CERTAIN OTHER ACTION TO BE TAKEN WITH RESPECT TO THE DEFEASANCE OF CERTAIN OTHER REVENUE BONDS OF THE CITY I, the undersigned, being the duly qualified and acting recording officer of the public corporation issuing the° obligations referred to in the title of this certificate, certify that the documents attached hereto, as described above, have been carefully compared with the original records of said corporation in my legal custody, from which they have been transcribed; that said documents are a correct and complete transcript of the minutes of a meeting of the governing body of said corporation, and correct and complete copies of all resolutions and other actions taken and of all documents approved by the governing body at said meeting, so far as they relate to said obligations; and that said meeting was duly held by the governing body at the time and place and was attended throughout by the members indicated above, pursuant to call and notice of such meeting given as required by law. WITNESS my hand officially as such recording officer this 14th day of October 85. Sigma re Beverly Flanagan, City Clerk Name and Title (SEAL) Member Na3md introduced the following resolution and moved its adoption: RESOLUTION NO. 8S� RESOLUTION AUTHORIZING THE ISSUANCE AND SALE BY THE CITY OF ITS HOSPITAL FACILITIES REVENUE BONDS (METHODIST HOSPITAL PROJECT), SERIES 1985, AUTHORIZING EXECUTION OF A BOND PURCHASE AGREEMENT RELATING TO SAID BONDS, AND AUTHORIZING CERTAIN OTHER ACTION TO BE TAKEN WITH RESPECT TO THE DEFEASANCE OF CERTAIN OTHER REVENUE BONDS OF THE CITY BE IT RESOLVED by the City Council (the "Council") of the City of St. Louis Park, Minnesota (the "City"), as follows: 1. It has been proposed that the City issue, under Minnesota Statutes, Chapter 474, as amended (the "Act"), (1) its Hospital Facilities Revenue Bonds (Methodist Hospital Project), Series 1985-A (the "Series 1985-A Bonds"), and loan the proceeds thereof to Methodist Hospital, a Minnesota nonprofit corporation (the "Corporation"), which will use the proceeds to finance a portion or all of a proposed project (the Project) consisting of the construction of certain improvements to, and the acquisition and installation of certain equipment to be used in the operation of, the existing hospital facilities of the Corporation located at 6500 Excelsior Boulevard in the City and commonly known as Methodist Hospital (the Hospital), and (2) its Hospital Facilities Refunding Revenue Bonds (Methodist Hospital Project), Series 1985-B (the "Series 1985-B Bonds," and, together with the Series 1985-A Bonds, collectively the Series 1985 Bonds"), and loan the proceeds thereof to the Corporation, which will use the proceeds to refund in advance of their stated maturities the Hospital Facilities Revenue Bonds (Methodist Hospital Issue), Series A, previously issued by the City under the Act in the aggregate principal amount of $14,660,000, of which $13,225,000 are presently outstanding (the "Series A Bonds"), the proceeds of which were loaned to the Corporation to finance certain improvements to the Hospital. The Council adopted a resolution on October 7, 1985, giving preliminary approval to the issuance of bonds under the Act in the approximate amount of $31,000,000 to finance the Project and $12,000,000 to refund the Series A Bonds, and that approval is hereby confirmed and ratified. Pursuant to such action a draft of a Bond Purchase Agreement (the "Bond Purchase Agreement"), proposed to be made and entered into among the City, the Corporation and Dain Bosworth Incorporated (the "Underwriters"), has been submitted to the Council and is now, or shall be placed, on file in the office of the City Clerk. 2. The City approves the issuance of the Series 1985 Bonds under the Act. It is acknowledged that, as of the date of adoption of this Resolution, certain details with respect to the Series 1985 Bonds, including the interest rates thereon and the principal amount thereof, have not been determined. The Mayor is therefore authorized, on behalf of the City, to approve such details, including the interest rates and principal amount when and as they are proposed by the Underwriters and the Corporation as being to their mutual satisfaction, provided that the rate or rates of interest on the Series 1985 Bonds shall not in the aggregate cause the net interest rate on the Series 1985 Bonds, as calculated in accordance with standard "bond years" calculations, to exceed 10-1/2% per annum and the principal amount of such Series 1985 Bonds shall not exceed $31,000,000 (for the Series 1985-A Bonds) or $11,250,000 (for the Series 1985-B Bonds), as the case may be. The details thus approved by the Mayor shall be incorporated, as appropriate, in the Bond Purchase Agreement (as hereinafter approved) and the other documents pursuant to which the Series 1985 Bonds will be issued, and such approval shall be evidenced conclusively by the execution by the Mayor of each such document. 3. The form of the Bond Purchase Agreement referred to in paragraph i is approved. The terms and conditions of the Bond Purchase Agreement are found to be reasonable and 00 advantageous to the City, and the Mayor and City Clerk are authorized and directed to execute the Bond Purchase Agreement in the name and on behalf of the City. 4. The approval hereby given to the Bond Purchase Agreement referred to above includes an approval of such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by the City Attorney prior to the execution of such agreement. The execution of the Bond Purchase Agreement by the appropriate officers of the City herein authorized shall be conclusive evidence of the approval of such agreement in accordance with the terms hereof. In the absence of the Mayor or City Clerk, the Bond Purchase Agreement may be executed by the Acting Mayor or Acting City Clerk, respectively. 5. First National Bank of Minneapolis, as trustee for the holders of the Series A Bonds, is hereby authorized and directed, in connection with the refunding and defeasance of the Series A Bonds, to subscribe on behalf of the City for such United States Treasury Bonds, Notes and Certificates of Indebtedness - State and Local Government Series as are 16 necessary to accomplish such refunding and defeasance. -2- a 6. This resolution shall be effective immediately upon its final adoption. PASSED.by the City,Council of the City of St. Louis Park, Minnesota, this 14th day of October, .1985. 4 Mayor Attest. it Clerk (SEAL) The motion for the adoption of the foregoing resolution was duly seconded by Member Backes , and the following voted in favor thereof: A11 present 41 and the following voted against the same: None whereupon said resolution was declared duly -passed and adopted and was presented to the Mayor, who approved and signed the same, which was attested by the City Clerk. 4A -3-