Public Hearing Private Activity BondsNOTICE OF PUBLIC HEARING
NOTICE OF PUBLIC HEARING
ON PROPOSED PROJECT AND THE ISSUANCE OF PRIVATE ACTIVITY BONDS
CITY OF FARMINGTON, MINNESOTA
Notice is hereby given that the City Council of City of Farmington, Minnesota (the "City") will meet on Monday, December 17, 2012, at 7:00 p.m., or as soon thereafter as reasonably possible in the City Hall, 430 Third Street, Farmington, Minnesota, for the purpose of conducting a public hearing to consider giving host approval to the issuance by the City of Morris (the "Issuer") of revenue obligations, in one or more series, under Minnesota Statutes, Sections 469.152 through 469.165 (the "Act"), in order to refinance the cost of a project located in the City. The project will consist of refinancing debt incurred to fund capital projects at Farmington Health Center, a 65-bed skilled nursing facility located at 3410 - 213th Street West in the City and paying a portion of the costs associated with the financing. The financing will be combined with financing for projects in Morris and Duluth, Minnesota, in the maximum aggregate amount for all projects of $10,000,000, all on behalf of the owner, St. Francis Health Services of Morris, Inc., a Minnesota nonprofit corporation and organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended. The obligations and interest thereon shall not be payable from nor charged against any funds of the City other than revenue pledged for the payment thereof, nor shall the City be subject to any liability thereon. No holders of the obligations shall ever have the right to compel any exercise of the taxing power of the City to pay the obligations or the interest thereon, nor to enforce payment against any property of the City. Such obligations shall not constitute a charge, lien or encumbrance, legal or equitable, upon any property of the City, nor shall the same constitute a debt of the City within the meaning of any constitutional or statutory limitations.
A draft copy of the proposed Application to the Minnesota Department of Employment and Economic Development for approval of the project, together with all attachments and exhibits thereto, is available for public inspection at the office of the Administrator at 430 Third Street, Farmington, Minnesota, between the hours of 8:00 a.m. and 4:30 p.m. Monday through Friday, except legal holidays.
All persons interested may appear and be heard at the time and place set forth above or may submit written comments to the Administrator in advance of the hearing.