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Public Notices, Sept. 3, 2013

September 3, 2013
The Journal

PUBLISH

(September 3, 2013)

NOTICE OF PUBLIC HEARING RELATING TO A HOUSING PROGRAM AND PROJECT ON BEHALF OF HIGHLAND REGENCY HOUSE LLC AND ITS FINANCING UNDER SECTION 142(D) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, AND CHAPTERS 462A AND 462C, MINNESOTA STATUTES; CALLING FOR A PUBLIC HEARING ON THE FINANCING AND A RELATED HOUSING PROGRAM

CITY OF NEW ULM, MINNESOTA

NOTICE IS HEREBY GIVEN that the City Council of the City of New Ulm, Minnesota (the "City"), will meet on Tuesday, September 17, 2013, at 5:00 p.m., or as soon thereafter as practicable, at the City offices located at 100 North Broadway in the City, for the purpose of conducting a public hearing on (i) a proposal that the City issue tax-exempt revenue bonds (the "Bonds"), under Minnesota Statutes, Chapters 462A and 462C, as amended (the "Act") and Section 142(d) of the Internal Revenue Code of 1986, as amended (the "Code"), in order to finance a project (the "Project") on behalf of Highland Regency House LLC, a Wisconsin limited liability company and (ii) a housing program prepared with respect to the Project and its financing. The Project is a multifamily housing facility consisting of approximately 50 units. The Project is planned to be located at 1520 Sunset Ave. in the City. The aggregate principal amount of the Bonds to be issued for the Project will not exceed $4,590,000.

The Bonds shall be special, limited obligations of the City and shall be payable solely from the revenues pledged to the payment thereof. No holder of any Bond shall ever have the right to compel any exercise of the taxing power of the City to pay the Bonds, or the interest thereon, nor to enforce payment thereon against any property of the City, except money payable by the Borrower to the City and pledged to the payment of the Bonds.

A draft copy of the housing program relating to the Project is available for public inspection at the office of the City Finance Director, located in City offices, between the hours of 8:00 a.m. and 4:30 p.m. on normal City business days.

All persons interested may appear and be heard at the time and place set forth above, or may file written comments with the City Finance Director prior to the date of the hearing set forth above.

Dated: September 3, 2013.

CITY OF NEW ULM, MINNESOTA

/s/ Reginald Vorwerk

City Finance Director

 
 

 

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