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WHEREAS, the City has received a proposal from Autism Opportunities Foundation
<br />d/b/a Minnesota Autism Center, a Minnesota nonprofit corporation (the 'Borrower"), that the
<br />City issue its revenue bonds, in one or more series, in the aggregate principal amount of up to
<br />$5,100,000 to finance the acquisition, construction, and equipping of an intensive therapy center
<br />for children and adults ages 10 to 21 diagnosed with autism spectrum disorder ("ASD"),
<br />consisting of a one-story building of approximately 19,378 square feet with classrooms, a
<br />playground area, lunch room, gym, therapy room, art room, computer lab, conference rooms,
<br />administrative space, and parking lot to be located at 2100 Silver Bell Road in the City of Eagan,
<br />Minnesota (the "Project"). The Project will be owned, operated, and managed by the Borrower;
<br />and
<br />WHEREAS, in accordance with Section 147(f) of the Internal Revenue Code of 1986, as
<br />amended (the "Code"), the City held a public hearing on June 5, 2017 on the issuance of revenue
<br />bonds of the City to finance the Project and adopted Resolution No. 2017-17 approving the
<br />issuance of the Bonds; and
<br />WHEREAS, subsequent to adoption of Resolution No. 2017-17,it was discovered that,
<br />do to no error by the City, notice for a public hearing was not timely published, necessitating a
<br />new public hearing; and
<br />WHEREAS, in accordance with Section 147(f) of the Code, the City held a public
<br />hearing on the date hereof on the issuance of revenue bonds of the City to finance the Project;
<br />and
<br />WHEREAS, in accordance with Section 147(f) of the Code, the City has been advised by
<br />the Borrower that the City of Eagan held a public hearing on June 6, 2017 on the Project and
<br />gave its approval to the issuance of the Bonds by the City; and
<br />WHEREAS, based on representations of the Borrower, no public official of the City has
<br />either a direct or indirect financial interest in the Project nor will any public official either
<br />directly or indirectly benefit financially from the Project.
<br />NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Hugo, as
<br />follows:
<br />1. Resolution No. 2017-17 adopted on June 5, 2017 is hereby amended and restated
<br />as set forth in this resolution.
<br />2. The Borrower has proposed that the City issue its Therapy Facilities Revenue
<br />Bonds (Minnesota Autism Center Project), Series 2017, which may be in one or more series and
<br />either as notes or bonds (the 'Bonds"), in an amount not to exceed $5,100,000 to finance the
<br />costs of the Project, and to sell the Bonds to Wells Fargo Bank, National Association (the
<br />"Purchaser"), as provided herein.
<br />OA
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