CITY OF SHAKOPEE, MINNESOTA NOTICE OF A PUBLIC HEARING TO BE CONDUCTED BY THE CITY OF SHAKOPEE WITH RESPECT TO THE ISSUANCE OF REVENUE OBLIGATIONS BY THE CITY OF COLUMBUS NOTICE IS HEREBY GIVEN that the City Council of the City of Shakopee, Minnesota (the "City"), will hold a public hearing on Tuesday, December 20, 2016, at or after 7:00 p.m. at City Hall, located at 129 Holmes Street South in the City, to consider a proposal that the City grant host city approval to the issuance of one or more series of revenue obligations (the "Bonds") in the aggregate principal amount not to exceed $10,000,000 by the City of Columbus, Minnesota ("Columbus") or another political subdivision of the state, under Minnesota Statutes, Chapter 462C, as amended, and Minnesota Statutes, Sections 471.59 and 471.656, as amended, for the benefit of Wishrock Housing Partners LLC, a Maine limited liability company, or any of its affiliates (the "Borrower"). The Borrower intends to apply a portion of the proceeds of the Bonds to finance the acquisition and rehabilitation of an approximately 62-unit affordable senior housing facility commonly known as Village Apartments located at 1428 Fourth Avenue East in the City (the "Project"). The Bonds will be special, limited obligations of Columbus, 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 Columbus and pledged to the payment of the Bonds. Before issuing the Bonds, Columbus will enter into an agreement 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. At the time and place fixed for the public hearing, the City Council will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. In addition, interested persons may direct any questions or file written comments respecting the proposal with the City Administrator, at or prior to said public hearing. Dated: December 4, 2016 BY ORDER OF THE CITY COUNCIL OF THE CITY OF SHAKOPEE, MINNESOTA /s/ William H. Reynolds City Administrator City of Shakopee, Minnesota
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