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05-10-2017 Council Packet
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05-10-2017 Council Packet
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8293890v1 <br /> <br /> A-1 <br /> <br />EXHIBIT A <br />CITY OF LITTLE CANADA, MINNESOTA <br /> <br />NOTICE OF PUBLIC HEARING <br />ON A PROPOSAL FOR THE ISSUANCE OF <br />EDUCATIONAL FACILITIES REVENUE REFUNDING NOTES FOR THE <br />SAINT PAUL ACADEMY AND SUMMIT SCHOOL PROJECT <br /> <br />Notice is hereby given that the City Council of the City of Little Canada, Minnesota (the <br />"City") will meet at the at the City Hall located at 515 Little Canada Road E, Little Canada, <br />Minnesota, at 7:30 p.m. on Wednesday, June 14, 2017, to consider the proposal of Saint Paul <br />Academy and Summit School, a Minnesota nonprofit corporation and having federal income tax- <br />exempt 501(c)(3) status (the "Borrower"), that the City assist in refinancing a project hereinafter <br />described pursuant to Minnesota Statutes, Sections 469.152 to 469.165, by the issuance of <br />revenue notes, in one or more series (the "Notes"). <br />The "Project" consists of refinancing the acquisition, construction, and improvements of <br />certain of the Borrower's school facilities, including the Borrower's facilities located at Dunlap <br />and Goodrich Avenues and Randolph and Davern in the City of Saint Paul, Minnesota ("Saint <br />Paul"), by the refunding of the outstanding principal amount, in part, of the Housing and <br />Redevelopment Authority of the City of Saint Paul, Minnesota's (the "Authority") Educational <br />Facility Revenue Refunding Bonds (Saint Paul Academy and Summit School Project), Series <br />2007 (the "Prior Bonds"). The Project is and will be owned, operated, and managed by the <br />Borrower. <br />The maximum estimated principal amount of the Notes to be issued to refinance the <br />Project is $10,000,000. <br />The Notes, if and when issued, will not constitute a charge, lien, or encumbrance upon <br />any property of the City, except the Project, and such obligations will not be a charge against the <br />general credit or taxing powers of the City but will be payable from sums to be paid by the <br />Borrower pursuant to a revenue agreement. <br />At the time and place fixed for the Public Hearing, the City Council will give all persons <br />who appear at the hearing an opportunity to express their views with respect to the proposal. <br />Written comments will be considered if submitted at the above City office on or before the date <br />of the hearing.
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