Laserfiche WebLink
EXHIBIT BI <br /> <br />Guardian Angels Projects <br /> <br />The Guardian Angels Projects consist of the following, and the amount of Bond proceeds <br />used for Guardian Angels Projects shall not exceed 4,500,000: <br /> <br /> 1. The acquisition, construction, reconstruction and equipping of improvements <br />to the 120-bed skilled nursing care facility commonly known as Guardian Angels Care <br />Center, located at 400 Evans Avenue, Elk River, Minnesota and owned by Guardian Angels <br />Health Services, Inc., including renovation, remodeling, equipping and furnishing of the <br />facility and such site improvements as may be necessary or desirable; and <br /> <br /> 2. The refunding in whole (referred to as the "Bond Refunding") of the Housing <br />and Redevelopment Authority of Sherbume County, Minnesota Nursing Home Facility <br />Revenue Bonds, Series 1994 (Guardian Angels Care Center Project) issued in the original <br />principal amount of $3,245,000, proceeds of which financed and refinanced costs of <br />acquiring, constructing, equipping and financing an additior/and certain improvements to the <br />Guardian Angels Care Center. <br /> <br />B-1 <br /> <br /> <br />