2017.07.05 CC Packet - Laserfiche WebLink

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6:30 p.m. Members of the Commission discussed the meeting time and whether it was the still the best time for everyone's schedule. The Commission elected to meet earlier in the day at 1 p.m. Staff recommends Council approve the change in time for the meetings of the Historical Commission from 6:30 p.m. to 1 p.m. H.1 Public Hearing on the Issuance of Therapy Facilities Revenue Bonds — Minnesota Autism Center Proiect A public hearing was held on June 5, 2017 on the proposal to issue these bonds; however, the hearing was invalid due to lack of public notice. At the June 19, 2017, City Council meeting, the Council adopted a resolution calling for a public hearing on a proposal to Issue Therapy Facilities Revenue Bonds in an amount of no more than $5.1 million, on behalf of the Autism Opportunities Foundation, a Minnesota nonprofit corporation doing business as the Minnesota Autism Center (the "Borrower"). The bond proceeds will be used to finance the acquisition, construction, and equipping of an intensive therapy center for children and adults ages 10 to 21 diagnosed with autism spectrum disorder ("ASD"). The project will be located at 2010 Silver Bell Road in Eagan, Minnesota. The Borrower has agreed to pay the City of Hugo an issuer's administrative fee of 1/4 of I% of the principal amount of the bonds. Briggs and Morgan, the City's bond counsel, has reviewed this request and finds it to be a proper use of the City's bonding authority. The City is only serving as the bond issuer and will have no obligations for repaying investors. Following the public hearing, staff recommends adoption of a Resolution Approving Issuance and Sale of Therapy Facilities Revenue Bonds. L.1 Yellow Ribbon Network Update Council Members Chuck Haas and Phil Klein will report to Council any updates on the City of Hugo's Yellow Ribbon Network activities. N. Adiournment