NOTICE OF PUBLIC HEARING ON A PROPOSAL FOR ISSUANCE OF HEALTH CARE REVENUE BONDS, SERIES 2021A (CENTRACARE HEALTH SYSTEM) Notice is hereby given that a public hearing shall be conducted by the City Council of the City of Willmar, Minnesota (the "City") on Monday, April 5, 2021 at 7:00 P.
NOTICE OF PUBLIC HEARING ON A
FOR ISSUANCE OF HEALTH CARE
BONDS, SERIES 2021A (CENTRACARE HEALTH SYSTEM)
Notice is hereby given that a public hearing shall be conducted by the City Council of the City of Willmar, Minnesota (the "City") on Monday, April 5, 2021 at 7:00 P.M. at the Kandiyohi County Health and Human Services Building Board Room located at 2200 23rd Street NE in the City, to consider the proposal for the City's issuance of conduit revenue bonds in one or more series (the "Bonds") pursuant to Minnesota Statutes, Sections 469.152 to 469.1655, as amended (the "Act"). The proceeds of the Bonds will be loaned to The Saint Cloud Hospital, a Minnesota nonprofit corporation (the "Borrower") as the representative of the obligated group consisting of the Borrower, CentraCare Health System, a Minnesota nonprofit corporation ("CentraCare"); CentraCare Health Services-Melrose, a Minnesota nonprofit corporation; CentraCare Health Services-Long Prairie, a Minnesota nonprofit corporation; CentraCare Health System-Sauk Centre, a Minnesota nonprofit corporation; CentraCare Health-Paynesville, LLC, a Minnesota limited liability company; CentraCare Health System-NR, LLC, a Minnesota limited liability company; Carris Health, LLC, a Minnesota limited liability company ("Carris"); Carris Health-Redwood, LLC, a Minnesota limited liability company and Affiliated Community Medical Centers, Ltd., a Minnesota corporation (collectively, the "Obligated Group"), to (i) refinance improvements to the Rice Memorial Hospital, Rice Care Center, Rice Home Medical, and Rice Hospice (collectively, the "Project"), which were previously financed with the proceeds of the General Obligation Hospital Revenue Refunding Bonds, Series 2012A (Rice Memorial Hospital Project) and Hospital Revenue Notes, Series 2013 (Rice Care Center Project), issued by the City, and (ii) pay the costs of issuing the Bonds. The Project is owned by the City and leased to and operated by CentraCare and Carris.
Following the public hearing, the City will consider adopting a resolution approving the issuance of the Bonds to refinance the Project. The aggregate face amount of the Bonds proposed to be issued is presently estimated not to exceed $35,000,000. The Bonds, if and when issued, will not constitute a charge, lien or encumbrance upon any property of the City except the City's interest in any revenues to be paid by the Borrower. Such Bonds will be special, limited revenue obligations of the City payable solely from the revenues expressly pledged to the payment thereof, and will not constitute a general or moral obligation of the City, and will not be a charge against the City's general credit or taxing powers, but will be payable solely from revenues or collateral to be paid or provided by the Borrower pursuant to a revenue agreement, which will be secured by a note granted by the Obligated Group. The facilities financed and refinanced by the Prior Bonds will continue to be owned by the City and leased to Carris and CentraCare in accordance with the terms of an Operating Lease between the City, Carris and CentraCare.
A draft copy of the proposed application to the Commissioner of the Department of Employment and Economic Development, State of Minnesota, for approval of the Project, together with all attachments and exhibits thereto, is available for public inspection during normal business hours, Monday through Friday, at the office of the City Clerk located at 333 SW 6th Street in the City.
The Mayor of the City has determined, due to the emergency declared under Minn. Stat. Chapter 12 by the Governor of Minnesota and the Mayor regarding the COVID-19 health pandemic, that it may not be practical or prudent for the Council to meet in-person or pursuant to Minnesota Statutes, Section 13D.02. In light of the COVID-19 health pandemic, some members of the Council may attend this meeting by telephone or other electronic means.
Members of the public may monitor this meeting via GoToMeeting. A GoToMeeting link and additional information or any changes regarding public participation in this meeting will be posted on our website at https://cms5.revize.com/revize/cityofwillmar/government/mayor_and_city_council/city_council_video.php.
Public comment can be submitted to the City Clerk via email at email@example.com. Please refer to the City's website at https://cms5.revize.com/revize/cityofwillmar/government/mayor_and_city_council/city_council_meetings/index.php to obtain a conference call number which will be included with the meeting agenda for members of the public who wish to participate during the meeting.
(March 6, 2021) 2878485