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EXHIBIT B <br />NOTICE OF PUBLIC HEARING ON A PROPOSED <br />PROJECT UNDER THE MUNICIPAL INDUSTRIAL <br />DEVELOPMENT ACT, MINNESOTA STATUTES, <br />CHAPTER 474, AS AMENDED, AND MINNESOTA <br />STATUTES, SECTION 471.59 <br />CITY OF <br />LITTLE CANADA MINNESOTA <br />NOTICE 1S HEREBY GIVEN that the governing body of the City of Little <br />Canada , Minnesota (the "City "), will meet on March, 11 , <br />1987 at 7:30 p.m. in the City Council Chambers, located at 515 <br />Little Canada Rd. , Minnesota, for the purpose of <br />conducting a public hearing on a proposal that the City jointly issue its Securitized <br />Development Revenue Bonds under the Municipal Industrial Development Act, <br />Minnesota Statutes, Chapter 474, as amended, and the Joint Powers Act, Minnesota <br />Statutes, Section 471.59, in order to finance the cost of a project. The proposed <br />project will consist of the joint.establishment of a fund bthe City id the Cities <br />of Apple Valley Big La Ice, Preston 'Cannon l' alts <br />Chaska,Faribault , Prior Lake & Shoreview from the proceeds of their <br />jointly issued Securitized Development Revenue Bonds. The proposed project will <br />be used to finance revenue - producing projects to consist of the acquisition, <br />construction, reconstruction, rehabilitation and /or installation of commercial, <br />industrial or retail facilities in any of the Cities. The estimated total amount of <br />the proposed issue is $300,000,000. The bonds shall be a limited obligation of the <br />Cities, and each of them individually, and the bonds and interest thereon shall be <br />payable solely from the revenues pledged to the payment thereof, except that such <br />bonds may be secured by a mortgage and other encumbrance on the project. No <br />holder of any such bond shall ever have the right to compel any exercise of the <br />taxing power of the City of Little Canada to pay the bonds, or the <br />interest thereon, nor to enforce payment against any property of the City, except <br />its interest in the project. <br />A draft copy of the proposed application to the Minnesota Department of <br />Energy and Economic Development for approval of the project, together with all <br />attachments and exhibits thereto, is available for public inspection at the City <br />offices. <br />All persons interested may appear and be heard at the time and place set <br />forth above. <br />Dated: <br />3 -I1- <br />, 1987 <br />13Y ORDER OF THE CITY COUNCIL <br />OF THE CITY OF Little Canada <br />I3y�i i a �a7C7 <br />oseph G. Chlebeck- Clerk <br />