CITY OF HASTINGS PUBLIC HEARING AUGUSTANA HEALTH CARE PROJECTNOTICE OF PUBLIC HEARING ON A PROPOSAL FOR ISSUANCE OF HEALTH CARE FACILITIES REVENUE NOTE
NOTICE OF PUBLIC HEARING ON A PROPOSAL FOR ISSUANCE OF HEALTH CARE FACILITIES REVENUE NOTE
(AUGUSTANA HEALTH CARE CENTER OF HASTINGS PROJECT)
Notice is hereby given that a public hearing shall be conducted by the City Council of the City of Hastings, Minnesota (the "City") on Monday, April 2, 2012, at 7:00 p.m. at City Hall located at 101 4th Street, Hastings, Minnesota 55033-1944, to consider the proposal of Augustana Home of Hastings, doing business as Augustana Health Care Center of Hastings, a Minnesota nonprofit corporation (the "Borrower"), that the City assist in refunding revenue bonds previously issued to finance and refinance, and in financing the renovation of, a nursing facility located at 930 West 16th Street in the City (the "Project"), and to finance certain other costs related to the Project by the issuance of a revenue note or other obligation in an amount not to exceed $5,100,000 pursuant to Minnesota Statutes, Sections 469.152 to 469.1651, as amended. The Project is owned and operated by the Borrower.
The notes or other obligations, as and when issued, will not constitute a charge, lien or encumbrance upon any property of the City, except the Project and the revenues to be derived from the Project. Such notes or obligations will not be a charge against the City's general credit or taxing powers, but will be payable from sums to be paid by the Borrower pursuant to a revenue agreement.
A draft copy of the proposed application to the Commissioner of the Department of Employment and Economic Development, State of Minnesota, for approval of the Project, together with all attachments and exhibits thereto, is available for public inspection during normal business hours, Monday through Friday, at the City Hall in the City.
At the time and place fixed for the public hearing, the City will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. In addition, interested persons may file written comments respecting the proposal with the Administrator at or prior to the public hearing.