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Last modified
11/14/2014 11:07:08 AM
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11/14/2014 9:32:10 AM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
10/27/2014
Resolution #
11185
Resolution Title
A RESOLUTION CALLING FOR A PUBLIC HEARING ON THE ISSUANCE OF EDUCATIONAL FACILITIES REVENUE NOTES AND AUTHORIZING THE PUBLICATION OF A NOTICE OF THE HEARING (CHARTER SCHOOLS DEVELOPMENT CORPORATION/HIAWATHA ACADEMIES PROJECT)
Resolution Date Passed
10/27/2014
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EXHIBIT A <br /> NOTICE OF PUBLIC HEARING <br /> ON A PROPOSAL FOR THE ISSUANCE OF <br /> EDUCATIONAL FACILITIES REVENUE NOTES FOR THE <br /> HIAWATHA ACADEMIES PROJECT <br /> Notice is hereby given that the City Council of the City of Roseville, Minnesota (the <br /> "City") will meet at the City Hall located at 2660 Civic Center Drive, Roseville, Minnesota, at <br /> 6:00 p.m. on Monday, December 1, 2014, to consider the proposal of Charter Schools <br /> Development Corporation, a District of Columba nonprofit corporation and having federal <br /> income tax-exempt 501(c)(3) status (the "Borrower"), that the City assist in financing a project <br /> hereinafter described pursuant to Minnesota Statutes, Sections 469.152 to 469.1655, by the <br /> issuance of revenue notes, in one or more series (the"Notes"). <br /> The "Project" consists of financing the acquisition, construction and equipping of a <br /> charter school facility located at the southeast corner of Hiawatha Academies' Northrop Campus <br /> located at 1611 East 46th Street, Minneapolis, Minnesota, near the intersection of 17th Avenue <br /> East and 47th Street South, including an approximately 38,000 square foot two-story middle <br /> school building containing approximately 19 classrooms, a gymnasium, auditorium, a cafeteria, <br /> conference and break-out rooms, and administrative space, and site upgrades, including <br /> approximately 36 parking spaces, a loading area, and landscaping. The Project will be owned by <br /> the Borrower and leased to and operated by Hiawatha Academies, a Minnesota non-profit <br /> corporation having federal income tax-exempt 501(c)(3) status as a public (charter) school. <br /> The maximum estimated principal amount of the Notes to be issued to finance the Project <br /> is $6,600,000. <br /> The Notes if and when issued will not constitute a charge, lien or encumbrance upon any <br /> property of the City, except the Project, and such obligations will not be a charge against the <br /> general credit or taxing powers of the City but will be payable from sums to be paid by the <br /> Borrower pursuant to a revenue agreement. <br /> A draft copy of the proposed application to the Minnesota Department of Employment <br /> and Economic Development for approval of the Project, together with all attachments and <br /> exhibits thereto, is available for public inspection, during normal business hours, Monday <br /> through Friday, in the office of the Manager, in the City Hall. <br /> At the time and place fixed for the Public Hearing, the City Council will give all persons <br /> who appear at the hearing an opportunity to express their views with respect to the proposal. <br /> Written comments will be considered if submitted at the above City office on or before the date <br /> of the hearing. <br /> A-1 <br /> 6640120v1 <br />
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