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8299079v1 <br /> <br /> <br /> <br />Joel Hanson <br />May 3, 2017 <br />Page 3 <br /> <br /> <br /> <br /> <br />Similarly, under the federal tax code, before a city can issue bonds for a project located <br />outside of its jurisdiction, the host city must give its approval. Such approval can only be given <br />following the holding of a public hearing. <br />This requires that the Saint Paul HRA, on behalf of the City of Saint Paul, hold a public <br />hearing and approve issuance of the Bonds by the Issuers. We have tentatively scheduled the <br />Saint Paul HRA to hold a public hearing and give host approval to the actual issuance of the <br />Bonds by the Issuers on June 14th. <br />The Issuers will also hold public hearings. Falcon Heights’ and Little Canada’s will both <br />be held on June 14th. The enclosed resolution sets that public hearing date. Briggs and Morgan <br />will be responsible for submitting the public hearing notice to the newspaper. A closing in early <br />July is anticipated. <br />Please feel free to contact me if you have any further questions or comments. The <br />Borrower appreciates the consideration of the City in this matter. <br /> Very truly yours, <br />Catherine J. Courtney <br /> <br /> <br />CJC <br />Enclosure <br />cc: Pam Dykstra <br />