NOTICE OF PUBLIC HEARING NOTICE OF PUBLIC HEARING WITH RESPECT TO A PROJECT DESCRIBED IN MINNESOTA STATUTES, CHAPTER 462C, AS AMENDED NOTICE IS HEREBY GIVEN that the Community Development & Regulatory Services Committee of the Minneapolis City Council will hold a public hearing on Tuesday, August 8, 2017, at or after 1:30 p.m., in Room 317 at Minneapolis City Hall, 350 South Fifth Street, in Minneapolis, Minnesota, to consider a proposal that the City of Minneapolis (the "City") grant host approval to the issuance of revenue obligations, in one or more series (the "Bonds"), by the City of Lauderdale, Minnesota (the "City of Lauderdale") and the City of Hilltop, Minnesota ("Hilltop") pursuant to Minnesota Statutes, Chapter 462C, as amended (the "Act"), on behalf of Catholic Eldercare, a Minnesota nonprofit corporation, or any of its affiliates (the "Borrower"). The Bonds proposed to be issued for the benefit of the Borrower shall be in a principal amount presently estimated not to exceed $16,000,000. The proceeds of the Bonds, along with other available funds, will be used to (i) finance the construction and equipping of a 69-unit indepen-dent senior housing complex with services located at 917, 923, 929, and 1001 Second Street NE in the City (the "Project"); (ii) fund any required reserves; (iii) finance capitalized interest during the construction of the Project, if necessary; and (iv) pay costs of issuance of the Bonds. The Project will be owned and operated by the Borrower. The Bonds will be special, limited obligations of the City of Lauderdale and the City of Hilltop, and the Bonds and interest thereon will be payable solely from the revenues and assets pledged to the payment thereof. No holder of any Bonds will ever have the right to compel any exercise of the taxing power of the City to pay the Bonds or the interest thereon, nor to enforce payment against any property of the City. The Bonds are to be payable solely from revenues and security provided by the Borrower to the City of Lauderdale and the City of Hilltop and pledged to the payment of the Bonds. Before issuing the Bonds, the City of Lauderdale and the City of Hilltop will enter into one or more agreements with the Borrower whereby the Borrower will be obligated to make payments at least sufficient at all times to pay the principal of and interest on the Bonds when due. On a date following the public hearing, the Council of the City will consider granting host approval to the issuance of the Bonds by the City of Lauderdale and the City of Hilltop for the benefit of the Borrower and approving a cooperative agreement with the City of Lauderdale and the City of Hilltop. At the time and place fixed for the public hearing, all persons who appear at the public hearing will be given an opportunity to express their views. In addition, interested persons may file written comments with the City Clerk at or prior to such public hearing. For sign language interpreting, TDD 673-2626. For additional information contact Charles Curtis of the City of Minneapolis Community Planning and Economic Development at (612) 673-5069. Dated: July 22, 2017 CITY OF MINNEAPOLIS
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