NOTICE OF PUBLIC HEARING TO CONSIDER HOST APPROVAL ON A PROPOSAL FOR THE ISSUANCE OF A NON-PROFIT FACILITY REVENUE NOTE BY THE CITY OF LILYDALE, MINNESOTA (RELATE COUNSELING PROJECT) SERIES 2016B NOTICE IS HEREBY GIVEN That the City Council of the City of Minnetonka, Minnesota (the "City") will meet at Minnetonka City Hall, 14600 Minnetonka Boulevard, Minnetonka, Minnesota, at or after 6:30 p.m. on Monday, October 24, 2016, to consider the proposal of Relate Counseling Center, a Minnesota nonprofit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the "Borrower"), that the City of Lilydale, Minnesota (the "Issuer"), assist in financing a project hereinafter described pursuant to Minnesota Statutes, Sections 469.152 through 469.1655, as amended, by the issuance of a revenue note, in one or more series (the "Note"). The "Project" consists of the acquisition by the Borrower of a three-story, approximately 34,573 square-foot multi-tenant office building, landscaped areas, paved driveway and surface parking areas, primarily used for the Borrower's non-profit business activities, located at 5125 County Road 101 in the City (the "Facility"). The Borrower will use the Facility to grow its presence supporting its mission of providing individual, group and family counseling in the west Hennepin County area. A portion of the proceeds of the Note will also pay for a portion of the costs of issuance of the Note. The Project will be owned and operated by the Borrower or by a limited-liability company, the single member of which will be the Borrower. The maximum face amount of the Note to be issued to finance the Project is $3,200,000. The Note, if and when issued, will not constitute a charge, lien or encumbrance upon any property of the City or the Issuer, and such obligation will not be a charge against the general credit or taxing powers of the City or the Issuer, but will be payable from sums to be paid by the Borrower to a participating lender pursuant to a revenue agreement. A draft copy of the proposed application to the Minnesota Department of Employment and Economic Development for approval of the Project, together with all attachments and exhibits thereto, is available for public inspection, from 8:00 a.m. to 4:30 p.m., Monday through Friday, at City Hall, 14600 Minnetonka Boulevard, Minnetonka, Minnesota. At the time and place fixed for the public hearing, the City Council of the City will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. Written comments will be considered if submitted to the City Clerk at 14600 Minnetonka Boulevard, Minnetonka, Minnesota, 55345, on or before the date of the public hearing. Date of Publication: October 7, 2016.
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