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/ ' n <br /> � ', '�-ca <br /> �1 <br /> -� � . �. <br /> L <br /> CITY OF ORONO <br /> � ' . HENNEPIN COUNTY <br /> STATE OF MINNESOTA <br /> Council member Flint � introduced the following resolution and moved . <br /> its adoption: <br /> RESOLUTION NO. a 6 5 9 . <br /> RESOLUTION APPROVIlVG HOUSING PROGRAM AND <br /> STATING INTENT TO ISSUE HOUSING REVENUE BONDS <br /> BE IT RESOLVED by the City Council (the"Council") of the City of Orono, . <br /> Minnesota(the "City"), as follows: <br /> 1. On May 14, 2001 this Council held public hearings on a Program for � <br /> the Financing of a Multifamily Rental Housing Development for Seniors (the <br /> "Housing Program") and on the issuance of up to $9 million of housing revenue <br /> bonds (the "Housing Bonds")pursuant to Minnesota Statutes, Chapter 462C to <br /> finance the Program. The Program provides for acquisition of land and construction <br /> of 62 units of multifamily housing for seniors to be located at Brown Road and <br /> VYayzata Boulevard and to be owned by Wedum Foundation or Orono Senior <br /> Housing, LLC. � <br /> � . � � . <br /> 2. The Program is hereby approved. <br /> 3.� The issuance of the Bonds given preliminary approval. The City <br /> intends to issue the Bonds subject to negotiation and consideration of the terms <br /> thereof and related documents. City staff, the City Attorney and bond counsel aze <br /> authorized to negotiate and prepare appropriate documents relating to the Bonds for <br /> consideration by this Council. <br /> The motion for the adoption of the foregoing resolution was seconded by <br /> Council member whitP , and upon a vote being taken thereon <br /> the following voted in favor thereof: <br /> Mayor Peterson <br /> � Council Member Nygard � <br /> Council Memtier Sarisever'e � <br /> and the following voted against the same: � � <br /> None <br /> • . <br /> 4 <br />