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<br />..... . <br /> <br />J <br /> <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 NEW BRIGHTON, MINNESOTA <br /> <br />NOTICE IS HEREBY GIVEN that the City Council of the <br />City of New Brighton, Minnesota (the City), will meet on <br />.Jl(ne ?fi ,1990, at.I.:.3Q o'clock P.M., at the City Hall, <br />803-5th Ave. N.W., in New Brighton, Minnesota, for the purpose <br />of conducting a public hearing on a proposal that the City <br />issue its revenue bonds, in one or more series, under the <br />Minnesota Municipal Industrial Development Act, Minnesota <br />Statutes, Sections 469.152 through 469.165, in order to finance <br />the acquisition of and certain improvements to an existing <br />nursing home facility located at 2800 Highway 694 in the City <br />and commonly known as Innsbruck Healthcare Center (the Project) <br />by The Long Term Care Foundation, a Tennessee nonprofit <br />corporation (the Borrower). The maximum aggregate principal <br />amount of the proposed bond issue is $2,325,000. The bonds <br />will be limited obligations of the City, and the bonds and <br />interest thereon will be payable solely from the revenues <br />pledged to the payment thereof. No holder of any bonds will <br />ever have the right to compel any exercise of the taxing power <br />of the City to pay the bonds or the interest thereon, nor to <br />enforce payment against any property of the City except money <br />payable by the Borrower to the City and pledged to the payment <br />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 />with the City r.1annQp.r prior to the date of the hearing <br />set forth above. <br /> <br />Dated: <br /> <br />May 22 <br /> <br />, 1990. <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br />By/s/ <br /> <br />David Childs <br />Ci ty t1anager <br /> <br />-3- <br />