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<br />NOTICE OF PUBLIC HEARING ON A PROPOSED PROJECT AND <br />THE ISSUANCE OF NURSING HOME FACILITIES REVENUE <br />BONDS UNDER THE MINNESOTA MUNICIPAL INDUSTRIAL <br />DEVELOPMENT ACT, MINNESOTA STATUTES, <br />SECTIONS 469.152-469.165 <br /> <br />CITY OF ROSEVILLE, MINNESOTA <br /> <br />NOTICE IS HEREBY GIVEN that the City Council of the <br />City of Roseville, Minnesota (the City), will meet on July 23, <br />1990, at ~ o'clock P.M., at the City Hall, 2660 Civic Center <br />Drive, in Roseville, Minnesota, for the purpose of conducting a <br />public hearing on a proposal that the City issue its revenue <br />bonds, in one or more series, ~nder the Minnesota Municipal <br />Industrial Development Act, Minnesota Statutes, Sections <br />469.152 through 469.165, in order to finance the acquisition of <br />and certain improvements to an existing nursing home facility <br />located at 2727 North Victoria in the City and commonly known <br />as Lake Ridge Health Care Center (the Project) by The Long Term <br />Care Foundation, a Tennessee nonprofit corporation (the <br />Borrower). The maximum aggregate principal amount of the <br />proposed bond issue is $8,125,000. The bonds will be limited <br />obligations of the City, and the bonds and interest thereon <br />will be payable solely from the revenues pledged to the payment <br />thereof. No holder of any bonds will ever have the right to <br />compel any exercise of the taxing power of the City to pay the <br />bonds or the interest thereon, nor to enforce payment against <br />any property of the City except money payable by the Borrower <br />to the City and pledged to the payment of the bonds. <br /> <br />A draft copy of the proposed Application to the <br />Minnesota Department of Trade and Economic Development for <br />approval of the Project, together with draft copies of all <br />attachments and exhibits thereto, is available for public <br />inspection at the office of the City Manager during <br />business hours, 8:00 A.M. to 4:30 P.M., on normal business days. <br /> <br />All persons interested may appear and be heard at the <br />time and place set forth above, or may file written comments <br />wi th the City Manaqer prior to the date of the hearing <br />set forth above. <br /> <br />Dated: <br /> <br />July 23 <br /> <br />, 1990. <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br />By/s/ <br />City Manaqer <br /> <br />-3- <br />