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Following the public hearing, the City Council will consider adoption of a resolution approving <br /> the Project and the issuance of the City Note in accordance with the requirements of the Industrial <br /> Development Act and the Housing Act. The aggregate face amount of the City Note proposed to be <br /> issued to finance the Project is presently estimated not to exceed $4,000,000 and may be issued in one or <br /> more series. The City Note proposed to be issued by the City will constitute a special, limited obligation <br /> of the City payable solely from the revenues expressly pledged to the payment thereof, and will not be a <br /> general or moral obligation of the City and will not be secured by the taxing power of the City or any <br /> assets or property of the City except any interests of the City in the Project that may be granted to the City <br /> in conjunction with this financing. <br /> A draft copy of the Minnesota Department of Employment and Economic Development for <br /> approval of the new costs of the Project is on file with the City and is available for public inspection in <br /> the office of the City Administrator during regular business hours. Anyone desiring to be heard during <br /> the public hearing will be afforded an opportunity to do so. <br /> All interested persons may appear and be heard at the time and place set forth above. <br /> Dated: [Date of Publication] <br /> BY ORDER OF THE CITY COUNCIL OF <br /> THE CITY OF MOUNDS VIEW, <br /> MINNESOTA <br /> /s/ Jim Ericson <br /> City Administrator <br /> City of Mounds View,Minnesota <br /> A-2 <br /> 447996v2 JAE MN475-38 <br />