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Request for Action <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Mayor and City Council 4.8 <br />Agenda Section Meeting Date Prepared by <br />Consent February 7, 2022 Lori Ziemer, Finance Director <br />Item Description Reviewed by <br />Resolution: Refunding Guardian Angels Health Cal Portner, City Administrator <br />Care Facilities Refunding Revenue Bonds, <br />Reviewed by <br />Series 2015B <br /> <br /> <br />Action Requested <br />Adopt, by motion, a resolution approving the refunding by Sherburne County of the $4,000,000 Health Care <br />Facilities Refunding Revenue Bonds (Guardian Angels Health Services, Inc. Project), Series 2015B. <br /> <br />Background/Discussion <br />In 2015, the City of Elk River authorized the issuance of $4 million conduit revenue bonds to provide financing <br />for the renovation and improvements to the Guardian Angels nursing facility located at 400 Evans Avenue. <br /> <br />Guardian Angels has requested Sherburne County issue conduit revenue bonds that will refinance the Health <br />Care Facilities Refunding Revenue Bonds (Guardian Angels Health Services, Inc. Project), Series 2015B that <br />were issued by the city. <br /> <br />The refinancing requires that the City of Elk River grant consent to the issuance of conduit refunding revenue <br />bonds by Sherburne County. <br /> <br />Financial Impact <br />There is no financial impact or obligation to the City of Elk River. <br /> <br />Mission/Policy/Goal <br />Work with the community to meet changing needs. <br /> <br />Attachments <br /> Resolution <br /> <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br /> <br />service, and community engagement that encourages and inspires prosperity. <br /> Updated: August 2020 <br />