2014.05.19 RESO 2014-15 - Laserfiche WebLink

Home

EXHIBIT A NOTICE OF PUBLIC HEARING ON A PROPOSAL FOR ISSUANCE OF CHARTER SCHOOL LEASE REVENUE BONDS (NOBLE ACADEMY PROJECT) Notice is hereby given that a public hearing shall be conducted by the City Council of the City of Hugo, Minnesota (the "City") on Monday, June 16, 2014 at 7:00 P.M. at the City Hall located at 14669 Fitzgerald Avenue North, Hugo, Minnesota, to consider the proposal of CS Property Noble, LLC, a Minnesota nonprofit limited liability company (the "Borrower"), that the City issue revenue bonds or other obligations, in one or more series (the "Bonds"), pursuant to Minnesota Statutes, Sections 469.152 to 469.1655, as amended (the "Act"), in order to finance the Project hereinafter described. The Project consists of the acquisition of land located generally at the southeast corner of the intersection of Jefferson and 95h Avenue North in the City of Brooklyn Park, Minnesota ("Brooklyn Park") and the construction and equipping thereon of an approximately 95,000 square foot K-8 charter school facility (the "Project") to be leased to Noble Academy. The Project will be owned by the Borrower and operated by Noble Academy. The maximum estimated principal amount of the Bonds to be issued to finance the Project is $20,000,000. A draft copy of the proposal and associated materials is available for public inspection from 8:00 a.m. to 4:30 p.m., Monday through Friday, in the City Administrator's office in City Hall. The Bonds or other obligations if and when issued will not constitute a charge, lien or encumbrance upon any property of the City except the Project, and such note or obligations will not be a charge against the City's general credit or taxing powers, 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 will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. In addition, interested persons may file written comments respecting the proposal with the City Administrator at or prior to the public hearing. Em I 6237s21v1