Laserfiche WebLink
<br />EXHIBIT A <br /> <br />NOTICE OF PUBLIC HEARING ON <br />PROPOSAL FOR A HOUSING PROGRAM AND <br />THE ISSUANCE OF REVENUE BONDS TO FINANCE <br />A MULTIFAMILY ELDERLY RENTAL HOUSING DEVELOPMENT <br />(CARE INSTITUTE, INC. PROJECT) <br /> <br />TO WHOM IT MAY CONCERN: <br /> <br />Notice is hereby given that the City Council of the City of <br />Roseville, Minnesota, will meet in the City Council Chambers at <br />the City Hall in the City of Roseville, Minnesota, at 7:30 p.m. <br />on Monday, September 27, 1993, to consider the proposal of Care <br />Institute, Inc., an Indiana non-profit corporation (the <br />"company") that the city undertake a housing program to finance <br />the project hereinafter described, pursuant to Minnesota <br />Statutes, Chapter 462C, by the issuance of revenue obligations. <br /> <br />Description of the project: <br /> <br />The Project consists of the renovation of the existing <br />multifamily rental housing development for the elderly and the <br />acquisition, construction and equipping of a 38 unit addition <br />therefor on 1.3 acres of additional land to be acquired adjoining <br />said development, along with related improvements, to be located <br />at 2750 North victoria Street in the city of Roseville, <br />Minnesota. The Project will be owned by the Company. <br /> <br />Subsequent to approval of the housing program, the City of <br />Roseville may issue revenue bonds to finance the housing program. <br />Said bonds or other obligations, as and when issued, will not <br />constitute a charge, lien or encumbrance upon any property of the <br />City of Roseville, except the Project and the revenues to be <br />derived from the Project. Such bonds or obligations will not be <br />a charge against the City's general credit or taxing powers but <br />are payable from sums to be paid by the Company pursuant to a <br />revenue agreement. <br /> <br />The maximum aggregate estimated principal amount of bonds or <br />other obligations to be issued to finance the Project pursuant to <br />the housing program is $16,000,000. <br /> <br />Further information concerning the housing program and the <br />Project may be obtained from the office of the city Manager <br />during normal business hours. <br /> <br />At the time and place fixed for the public hearing, the City <br />Council will give all persons who appear at the hearing an <br />opportunity to express their views with respect to the housing <br />plan and the financing of the Project pursuant to the housing <br /> <br />245954 <br />