HomeMy WebLinkAbout07-122 - ADMIN Resolution - City Council - 2007/10/22RESOLUTION NO. 07-122
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ST. LOUIS
PARK, MINNESOTA, AMENDING THE PROJECT DESCRIPTION
RELATING TO ITS HEALTH CARE FACILITIES REVENUE BONDS
(PARK NICOLLET HEALTH SERVICES), SERIES 2007B, FOR THE
BENEFIT OF PARK NICOLLET HEALTH SERVICES, PARK
NICOLLET METHODIST HOSPITAL, PARK NICOLLET INSTITUTE,
PARK NICOLLET CLINIC, PNMC HOLDINGS, AND PARK NICOLLET
HEALTH CARE PRODUCTS
Resolved by the City Council of the City of St. Louis Park, Minnesota (the "City"):
Pursuant to Resolution No. 07-103, adopted on October 1, 2007 (the "Resolution"), the
City authorized the issuance, sale, and delivery of the City's Health Care Facilities Revenue
Bonds (Park Nicollet Health Services), Series 2007B-1, and its Health Care Facilities Revenue
Bonds (Park Nicollet Health Services), Series 2007B-2 (collectively, the "Series 2007B Bonds"),
in the approximate aggregate principal amount not to exceed $107,000,000, for the benefit of
Park Nicollet Health Services, a Minnesota nonprofit corporation, Park Nicollet Methodist
Hospital, a Minnesota nonprofit corporation, Park Nicollet Institute, a Minnesota nonprofit
corporation, Park Nicollet Clinic, a Minnesota association that has elected to be treated as a
nonprofit corporation, PNMC Holdings, a Minnesota nonprofit corporation, and Park Nicollet
Health Care Products, a Minnesota nonprofit corporation (collectively, the "Obligated Group");
The Resolution is hereby amended to modify the description of the project to be financed
by the Senes 2007B Bonds as follows:
The project to be financed with the proceeds of the Series 2007B Bonds shall include:
(i) the acquisition, construction, and equipping of an approximately 82,000 square foot
building which will house the Obligated Group's Cancer Center and related facilities with
approximately 31,000 square feet of the building reserved for future expansion, to be
located at 6490 Excelsior Boulevard in the City, (ii) the acquisition, construction, and
equipping of a new parking ramp which will include approximately 1,700 parking stalls
adjacent to the Cancer Center, (iii) the redesign and renovation of the emergency center
at Park Nicollet Methodist Hospital located at 6500 Excelsior Boulevard in the City, (iv)
the construction and equipping of a new north common entrance to Park Nicollet
Methodist Hospital, the Meadowbrook Building, and the new Cancer Center, and (v) the
acquisition, construction, and equipping of an approximately 69,000 square foot Eating
Disorders Institute, including a parking ramp and surface lot with an estimated 220
parking stalls, to be located at 3515 Belt Line Boulevard in the City (collectively, the
"Project").
Rev - d fs Administration
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Attest:
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City Clerk
Adopfed . the�ty Council October 22, 2007.
Mayor