HomeMy WebLinkAbout2014 03-26 Public Notices MAPLEWOOD REVIEW NOTICE OF PUBLIC
HEARING ON A PROPOSAL
FOR ISSUANCE OF A
EDUCATIONAL FACILITIES
REVENUE REFUNDING NOTE
(MOUNDS PARK
ACADEMY PROJECT)
Notice Is hereby given that the
City Council of the City of
Maplewood,Minnesota(the"City"),
will meet in the City Council
chambers at the Maplewood City
Hall,1830 County Road B East,in
the City at 7:00 p.m.on Monday,
April 14,2014,to consider giving
host approval to the issuance by the
City of Falcon Heights,Minnesota
("Falcon Heights") of a revenue
obligation, in one or more series,
pursuant to Minnesota Statutes,
Sections 469.152 to 469.1655, as
amended (the "Act"), in order to
MAR 2 R 2014
atinance the cost of a project whicn
is located in the City.
Mounds Park Academy (the
"Borrower")proposes to finance a
"Project"consisting of refunding the
outstanding principal balance of two
series of tax exempt revenue bonds
issued by the City in 2003 and 2005
to refinance the installation of
various capital improvements to the
Borrower's facilities located at 2051
Larpenteur Avenue East and 2025
Larpenteur Avenue East in the City.
The Project is owned and operated
by the Borrower.
The maximum aggregate estimated
principal amount of notes or other
obligations to be issued by Falcon
Heights to finance the Project will be
$7,750,000.
Such notes or other obligations,as
and when issued,will not constitute
a charge,lien or encumbrance upon
any property of the City or Falcon I
Heights,except the Project and the i
revenues to be derived from the 1
Project. Such notes or obligations
will not bee charge against the City's
or Falcon Heights'general credit or
taxing powers but are payable from
sums to be paid by the Borrower
pursuant toe revenue agreement.
At the time and place fixed for the
public hearing,the City Council of
the City will give all persons who
appear at the hearing an opportunity
to express their views with respect to
the proposal.Written comments will
be considered if submitted at the
above City office on or before the
date of the hearing.
BY ORDER OF THE CITY
COUNCIL OF THE CITY OF
MAPLEWOOD,MINNESOTA
By Chuck Ahl
Its City Manager
(Review:Mar.26,2014)