08-14-2002 Council Agenda - Laserfiche WebLink

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AUG 05 2008 4:41 PM FR BRIGGS & MORGAN TO 36514844538 P.Oa The maximum aggregate estimated principal amount of bonds or other obligations to be issued by the City to finance the Project will be $1,400,000. The Corporation will be the initial owner and operator of the Project . The bonds or other obligations, as and when issued, will not constitute a charge, lien or encumbrance upon any property of the City or the Cities of Falcon Heights, Minneapolis, Roseville or Bloomington, Minnesota (collectively, the "Host Cities "), except the Project and the revenues to be derived from the Project. Such bonds or obligations will not be a charge against the general credit or taxing powers of the City or the Host Cities, but are payable from sums to be paid by the Corporation pursuant to a revenue agreement. A draft copy of the proposed application to the Commissioner of the Department of Trade and Economic Development, State of Minnesota, for approval of the project, together with all attachments and exhibits thereto, is available for public inspection during normal business hours, Monday through Friday, at the City Hall in the City. At the time and place fixed for the public hearing, the City Council of the City will give all persons who appear at the hearing an opportunity to express their views with respect to the financing of the Project pursuant to the housing fmance program. Written comments will be considered if submitted at the above City office on or before the date of the hearing. Further information concerning the application to the Department of Trade and Economic Development and the Project may be obtained from the City Manager during normal business hours. Dated: August _, 2002, BY ORDER OF THE CITY COUNCIL THE CITY OF LITTLE CANADA, MINNESOTA By Joel Hanson Its City Administrator 143attovt ** TOTAL FAGE,08 **