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NOTICE OF PUBLIC HEARING ON A <br />PROPOSAL FOR A ROUSING FINANCE PROGRAM AND <br />THE ISSUANCE OF REVENUE BONDS TO FINANCE <br />A MULTIFAMILY RENTAL HOUSING DEVELOPMENT <br />(LITTLE CANADA LEASED HOUSING ASSOCIATES, <br />L.L.P. PROJECT) <br />TO WHOM IT MAY CONCERN: <br />Notice is hereby given that the City Council of the City of <br />Little Canada, Minnesota, will meet in the City Council Chambers <br />at the Little Canada City Hall, 515 Little Canada Road, in the <br />City of Little Canada, Minnesota, at 7:30 p.m. on Wednesday, <br />February 14, 1996, to consider the housing finance program of the <br />City and the proposal of Little Canada Leased Housing Associates, <br />L.L.P. (the "Developer ") that the City undertake a housing <br />finance program to finance the Project hereinafter described, <br />pursuant to Minnesota Statutes, Chapter 462C, by the issuance of <br />revenue obligations. <br />Description of the Project: <br />The project consists of the acquisition and renovation of <br />118 rental units located at 153 East Little Canada Road in the <br />City of Little Canada known as "The Provinces ". The Project will <br />be owned and operated by the Developer. <br />The maximum aggregate estimated principal amount of bonds or <br />other obligations to be issued to finance the Project pursuant to <br />the housing finance program will be $4,000,000. <br />Subsequent to approval of the housing finance program, the <br />City may issue revenue bonds to finance the housing finance <br />program. Said bonds or other obligations, as and when issued, <br />will not constitute a charge, lien or encumbrance upon any <br />property of the City, or its housing and redevelopment authority, <br />except the Project and the revenues to be derived from the <br />Project. Such bonds or obligations will not be a charge against <br />the City's general credit or taxing powers but are payable from <br />sums to be paid by the Developer pursuant to a revenue agreement. <br />Further information concerning the housing finance program <br />and the Project may be obtained from the City Administrator <br />during normal business hours. <br />At the time and place fixed for the public hearing, the City <br />Council of the City will give all persons who appear at the <br />hearing an opportunity to express their views with respect to the <br />housing finance program and proposal. Written comments will be <br />311437.A <br />Page 4 <br />7/£ d OZ£9£809g£ 'ON/£l o 'is/9l :al 96 ,9Z 'l0 (RIM NVMEOY( SOOIHH Y(OHd <br />