03-27-2024 Council Packet - Laserfiche WebLink

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132045833v2 A-1 EXHIBIT A CITY OF LITTLE CANADA, MINNESOTA NOTICE OF PUBLIC HEARING ON A PROPOSAL FOR THE ISSUANCE OF A CAPITAL CAMPAIGN FINANCING NOTE FOR THE SAINT PAUL ACADEMY AND SUMMIT SCHOOL PROJECT Notice is hereby given that the City Council of the City of Little Canada, Minnesota (the “City”) will meet at the at the City Hall located at 515 Little Canada Road E, Little Canada, Minnesota, at 7:30 p.m. on Wednesday, April 24, 2024, to consider the proposal of Saint Paul Academy and Summit School, a Minnesota nonprofit corporation and having federal income tax- exempt 501(c)(3) status (the “Borrower”), that the City assist in financing a project hereinafter described pursuant to Minnesota Statutes, Sections 469.152 to 469.165, by the issuance of revenue notes, in one or more series (the “Notes”). The “Project” consists of (i) financing the construction of renovations to the Borrower’s lower, kindergarten through fifth-grade, school, including improvements to classroom space and community space, and improvements to safety, accessibility, and infrastructure, located at 1150 Goodrich Avenue in the City of Saint Paul, Minnesota and (ii) pay costs of issuing the Note. The Project is and will be owned, operated, and managed by the Borrower. The maximum estimated principal amount of the Note to be issued to finance the Project is $10,000,000. The Note, if and when issued, will not constitute a charge, lien, or encumbrance upon any property of the City, except the Project, and such obligations will not be a charge against the general credit or taxing powers of the City but will be payable from sums to be paid by the Borrower 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 during normal business hours at City Hall at the address above 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. Written comments will be considered if submitted at the above City office on or before the date of the hearing. Dated: April __, 2024 BY ORDER OF THE CITY OF LITTLE CANADA, MINNESOTA By Christopher T. Heineman City Administrator