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<br />..9. <br /> <br />\1'lNESOl' <br />,,:,' '1 <br />. <br /> <br />-Trade &- <br />Economic <br />DeveloRment <br />Business & Community <br />Development <br /> <br />. <br /> <br />August 23,1999 <br /> <br />RECEIVED <br /> <br />AUG 2 6 1999 <br /> <br />The Honorable Dennis Probst <br />Mayor, City of Arden Hills CITY OF ARDEN HILLS <br />City Hall, 4364 W, Round Lake Rd, <br />Arden Hills, MN 55112 <br /> <br />State File No, M-3103 <br /> <br />RE: City of Arden Hills, MN--$30,OOO,OOO Healtb facilities and Housing Revenue <br />Refunding Bonds (Presbyterian Homes Obligated Group Project), Series 1999 <br /> <br />Dear Mayor Probst: <br /> <br />. The Department of Trade and Economic Development has examined the application and exhibits <br />submitted by you relating to the proposal to offer revenue bonds as authorized by the Municipal <br />Industrial Development Act, Minn, Stats, Sections 469.152 through 469,1651. <br /> <br />Based upon the information you submitted, approval of the project is hereby granted by the <br />Department of Trade and Economic Development. Such approval shall not be deemed to be an <br />approval by the Department or the State of Minnesota regarding the feasibility of the project or <br />the terms of the revenue agreement to be executed or the bonds to be issued therefor, nor whether <br />the project falls within regulations of Federal Law. <br /> <br />This approval does not in any way constitute an approval of an allocation in excess of an <br />entitlement award pursuant to Minn. Stats, Section 474,A, Accordingly, it may be necessary for <br />the issucr to seek an allocation under Minn, Stats, Section 474,A, <br /> <br />Included with this letter is a Project ClosinglNotice ofIssue report which must be completed by <br />the bond counsel and returned to this Department within five (5) days after the obligations are <br />issued, Please refer to the "M" State File number when submitting the Project ClosinglNotices of <br />Issue report, Failure to file this report within the five day period will void the obligations if the <br />obligations are subject to a federal limitation act. <br /> <br />. <br /> <br />500 Metro Square, 121 7th Place East, Saint Paul, Minnesota 55101-2146 USA <br />612-297-1291 . 800.657.3S5S . Fax 612-296-I290/296-52S7' TfYITDD 800-627-3529 <br />www.dted.state.mn.lls <br />