DEPARTMENT: Central Operations Administration
FILE TYPE: Regular Action
TITLE
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Public Hearing To Consider Giving Host Approval To Issuance By City Of Lilydale Of Revenue Obligations For 360 Communities Project
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RESOLUTION
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WHEREAS, 360 Communities has asked Dakota County to serve as the host for their Lewis House project in Eagan; and
WHEREAS, funding for the project includes the issuance of revenue obligations by the City of Lilydale, Minnesota in an amount not to exceed $8,000,000; and
WHEREAS, Dakota County will not be responsible for the repayment of any of the principal or interest costs for the project.
NOW, THEREFORE, BE IT RESOLVED, by the governing body of Dakota County, Minnesota, as follows:
Section 1. Definitions. The capitalized terms used in this resolution have the meanings assigned below:
Acts: collectively, Minnesota Statutes, Sections 469.152 through 469.165, and Sections 471.59 and 471.656, each as amended.
Authorized Officers: the Chairperson and County Manager of the County.
Bond Counsel: the law firm of Fryberger, Buchanan, Smith & Frederick, P.A.
Borrower: 360 Communities, a Minnesota nonprofit corporation.
Code: the Internal Revenue Code of 1986, as amended.
Cooperation Agreement: means the Cooperation Agreement between the County and the Issuer relating to the exercise of joint powers pursuant to Sections 471.59 and 471.656 of the Acts.
County: Dakota County, Minnesota.
Governing Body: the Board of Commissioners of the County.
Issuer: the City of Lilydale, Minnesota, as the issuer of the Obligations.
Obligations: the Issuer's tax-exempt, not-to-exceed $8,000,000 501(c)(3) Facilities Revenue Note (360 Communities Project), Series 2026.
Project: the demolition of an existing facility, and construction and equipping of an approximately 28,550 square-foot new facility suitable for the Borrower's Qualified Services and Activities, to be located at 4345 Nicols Road, in the City of Eagan, Minnesota.
Qualified Services and Acti...
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