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10-29-2018 Council Packet
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10-29-2018 Council Packet
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11136691v2 <br /> <br /> A-1 <br /> <br />EXHIBIT A <br />NOTICE OF PUBLIC HEARING ON A PROPOSAL <br />FOR ISSUANCE OF HEALTH CARE FACILITIES REVENUE NOTES <br />(PRESBYTERIAN HOMES CARE CENTERS, INC. – LANGTON PLACE PROJECT) <br />Notice is hereby given that a public hearing shall be conducted by the City Council of the <br />City of Little Canada, Minnesota (the "City"), in City Council chambers at the Little Canada City <br />Hall, 515 Little Canada Road East, in the City, at 7:30 p.m. on Wednesday, November 14, 2018, <br />to consider the proposal of Presbyterian Homes Care Centers, Inc., a Minnesota nonprofit <br />corporation and a 501(c)(3) organization (the “Borrower”), that the City issue revenue notes or <br />other obligations, in one or more series, pursuant to Minnesota Statutes, Sections 469.152 to <br />469.165, as amended (the “Act”), in order to finance the cost of a project described below. <br />The Borrower proposes to finance the costs of the acquisition, construction, and <br />equipping of an approximately 50,624 square foot, fifty-bed skilled nursing facility and the <br />demolition of the existing skilled nursing facility known as Langton Place, located at 1910 <br />County Road D in the City of Roseville, Minnesota ( the “Project”), and certain other costs <br />related to the Project. <br /> <br />The Project will be owned and operated by the Borrower. The maximum estimated <br />principal amount of the notes to be issued to finance the Project is $13,000,000. <br />The notes or other obligations, as and when issued, will not constitute a charge, lien, or <br />encumbrance upon any property of the City, except the Project and the revenues to be derived <br />from the Project. Such notes or obligations will not be a charge against the City's general credit <br />or taxing powers, but will be payable from sums to be paid by the Borrower pursuant to a <br />revenue agreement. <br />A draft copy of the proposed application to the Commissioner of the Department of <br />Employment and Economic Development, State of Minnesota, for approval of the Project, <br />together with all attachments and exhibits thereto, is available for public inspection during <br />normal business hours, Monday through Friday, in the office of the City Finance Director at the <br />City Hall in the City. <br />At the time and place fixed for the public hearing, the City will give all persons who <br />appear at the hearing an opportunity to express their views with respect to the proposal. In <br />addition, interested persons may file written comments respecting the proposal with the above <br />City office at or prior to the public hearing. <br /> <br />BY ORDER OF THE CITY COUNCIL OF THE CITY OF <br />LITTLE CANADA, MINNESOTA <br />By Chris Heineman <br /> Its City Administrator
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