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173196338v1 <br /> <br /> <br /> <br />NOTICE OF PUBLIC HEARING ON A PROPOSAL <br />FOR THE ISSUANCE OF REVENUE BONDS <br />(LEGACY CHRISTIAN ACADEMY PROJECT) <br />Notice is hereby given that a public hearing shall be conducted by the City Council of the <br />City of Hugo, Minnesota (the “City”) on Monday, July 7, 2025 at 7:00 P.M. at the City Hall located <br />at 14669 Fitzgerald Avenue North, Hugo, Minnesota, to consider the proposal of Legacy Christian <br />Academy, a Minnesota nonprofit corporation (the “Borrower”), that the City issue revenue bonds <br />or other obligations, in one or more series (the “Bonds”), pursuant to Minnesota Statutes, Sections <br />469.152 to 469.165, as amended (the “Act”), in order to finance the Project hereinafter described. <br />The Project consists of the acquisition of land and improvements located generally at 3037 <br />Bunker Lake Blvd NW in the City of Andover, Minnesota (“Andover”), for the purpose of the <br />expansion and continued operation of an approximately 145,000 square foot pre-K–12 private <br />school facility (the “Project”) to be owned and operated by the Borrower. <br />The estimated maximum principal amount of the Bonds to be issued to finance the Project <br />is $6,000,000. <br />A draft copy of the proposed application to the Commissioner of the Department of <br />Employment and Economic Development, State of Minnesota, for approval of the Project, together <br />with all attachments and exhibits thereto, is available for public inspection during normal business <br />hours, Monday through Friday, in the City Administrator’s office in City Hall. <br />The Bonds or other obligations if and when issued will not constitute a charge, lien or <br />encumbrance upon any property of the City, and such note or obligations will not be a charge <br />against the City’s general credit or taxing powers, but will be payable from sums to be paid by the <br />Borrower pursuant to a revenue agreement. <br />At the time and place fixed for the public hearing, the City will give all persons who appear <br />at the hearing an opportunity to express their views with respect to the proposal. In addition, <br />interested persons may file written comments respecting the proposal with the City Administrator <br />at or prior to the public hearing. <br /> <br />Date: May 30, 2025 BY THE ORDER OF THE CITY COUNCIL <br />OF THE CITY OF HUGO, MINNESOTA <br />By: Bryan Bear <br />City Administrator <br /> <br />