02-28-2013 Council Agenda - Laserfiche WebLink

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NOTICE OF PUBLIC HEARING ON A PROPOSAL FORTE AMENDMENT OF A REVENUE NOTE FOR ST. JOHN THE EVANGELIST SCHOOL Notice is hereby given that the City Council of the City of Little Canada, Minnesota (the "City ") will meet at the City Hall, 515 Little Canada Road E, in the City, at 7:30 p.m. on Thursday, February 28, 2013 to consider the proposal of St. John's Church of Little Canada, a Minnesota religious corporation (the "Borrower "), that the City assist in refinancing a project hereinafter described pursuant to Minnesota Statutes, Sections 469.152 to 469.1655, as amended, by the amendment of the City's $1,800,000 Educational Facilities Revenue Note, Series 2007 (St. John the Evangelist School Project) (the "Note "). The "Project" consists of amending the Note evidencing existing debt of the Borrower incurred in connection with the refinancing of the renovation, expansion, and equipping of the Borrower's existing kindergarten through 8 °i grade school facility, located at 2621 McMenemy Street in the City. The Project is owned and operated by the Borrower. The maximum estimated principal amount of the Note to be amended is $1,600,000. The Note, if and when amended, 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. 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. 5149236v1 2 Joel Hanson City Administrator