CCP 05-24-1999 - Laserfiche WebLink

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Inc. The Developer and/or one or more or all of the foregoin2: entities will be the obligors under the Bonds (the "Obligated Groun"), All facilities will be initially operated mana2:ed by Presbyterian Homes _ Management and Services, Inc. _ The bonds or other obligations, as and when issued, will not constitute a charge, lien or encumbrance upon any property of the City or the Cities of Little Canada, Spring Park, or Bloomington, Minnesota or Ankeny, Iowa, except the Project and the revenues to be derived from the Project. Such bonds or obligations will not be a charge against the general credit or taxing powers of the City or the Cities of Little Canada, Spring Park, or Bloomington, Minnesota or Ankeny, Iowa, but are payable from sums to be paid by the Deyeloper Obligated Group pursuant to a revenue agreement. A draft copy of the proposed application to the Commissioner of the Department of Trade and Economic Development, State of Minnesota, for approval of the project, together with all attachments and exhibits thereto, is available for public inspection during normal business hours, Monday through Friday, at the City Hall in the City. 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 financing of the Project pursuant to the housing finance program. Written comments will be considered if submitted at the above City office on or before the date of the hearing. Further information concerning the housing finance program, the application to the Department ,. of Trade and Economic Development, and the Project may be obtained from the City Administrator - during normal business hours. Dated: May _,1999. BY ORDER OF THE CITY COUNCIL THE CITY OF ARDEN HILLS, MINNESOTA By Brian Fritsinger Its City Administrator e l047497,RED V2 to VI; OS/24/99