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Last modified
3/6/2008 11:18:12 AM
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3/6/2008 11:16:57 AM
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Roseville City Council
Document Type
Council Resolutions
Meeting Date
2/25/2008
Resolution #
10599
Resolution Title
A RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL FOR A PRIVATE SCHOOL FACILITY PROJECT PURSUANT TO MINNESOTA LAW, AND AUTHORIZING THE PUBLICATION OF A NOTICE OF THE HEARING
Resolution Date Passed
2/25/2008
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Exhibit A <br />NOTICE OF PUBLIC HEARING <br />ON A PROPOSAL FOR A PRIVATE SCHOOL <br />FACILITIES DEVELOPMENT PROJECT <br />Notice is hereby given that the City Council of the City of Roseville, Minnesota (the "City"), <br />will meet at the Council Chambers of City Hall, 2660 Civic Center Drive, in the City at 6:00 <br />p.m. on Monday, March 17, 2008, to consider the proposal of Concordia Academy Association <br />of Schools, doing business as Concordia Academy, a Minnesota nonprofit corporation (the <br />"Borrower"), that the City assist the long-term financing of (i) debt related to the renovation and <br />equipping of, and construction of additions to, a high school known as Concordia Academy, <br />owned and operated by the Borrower and located at 2400 North Dale Street in the City, (ii) <br />acquisition of the facility formerly known as Lutheran High School located at 8201 Park Avenue <br />in Bloomington, Minnesota, and (iii) renovations to the Bloomington facility (collectively, the <br />"Project") through the issuance of revenue bonds, the proceeds of which will be loaned to the <br />Borrower to pay or refinance (by prepaying existing debt incurred by the Borrower to pay) a <br />portion of the costs of the Project. <br />The maximum aggregate estimated principal amount of bonds or other obligations to be issued <br />to finance or refinance the Project is $'7,000,000. <br />The bonds or other obligations if and when issued will not constitute a charge, lien or <br />encumbrance upon any property of the City and such bonds or obligations will not be a charge <br />against the City's general credit or taxing powers 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 Commissioner of the Department of <br />Employment and Economic Development, State of Minnesota, for approval of the projects, <br />together with all attachments and exhibits thereto, is available for public inspection from 8:00 <br />a.m. to 4:30 p.m., Monday through Friday, at the City Hall in the City. <br />Comments concerning these applications may be presented at the public hearing or filed with <br />the City Manager until 4:30 p.m. on the day of the hearing. Each response will be considered <br />before any formal action is taken by the City Council. If there are questions concerning these <br />applications call the City Finance Director at (651) 792-7000. <br />Dated this 25th day of February, 2008 <br />City of Roseville <br />By /s/ William J. Malinen <br />City Manager <br />2132085v1 <br />
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