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CITY OF WOODBURY NOTICE OF PUBLIC HEARING

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CITY OF WOODBURY NOTICE OF PUBLIC HEARING
Woodbury Minnesota 8420 City Centre Drive 55125

NOTICE OF PUBLIC HEARING

ON A PROPOSAL

FOR HEALTH CARE PROJECT

UNDER MINNESOTA STATUTES, SECTION 469.152 TO 469.1651

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Notice is hereby given that the City Council of the City of Woodbury, Minnesota (the "City") will meet at the City Hall, 8301 Valley Creek Road, in the City, at 7:30 p.m. on Wednesday, June 25, 2008 to consider giving host approval to the issuance by the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "HRA") of a tax exempt loan, under Minnesota Statutes 469.152 through 469.1651, as amended, in order to finance the cost of a project located in the City.

The Project to be financed consists of the acquisition of various capital equipment, cardio imaging, a PET/CT scanner and a cardiac bi-plane system to be installed and used at the following facilities of the Obligors, as defined below:

HealthEast St. Joseph's Hospital

69 West Exchange Street Saint Paul, MN 55102

Capital Equipment and Cardiac Bi-Plane System totaling approximately $17,131,878

HealthEast Woodwinds Campus

1925 Woodwinds Drive

Woodbury, MN 55125

Cardio Imaging Equipment totaling approximately $1,175,000

HealthEast St. John's Hospital

1575 Beam Avenue

Maplewood, MN 55109

PET/CT Scanner totaling approximately $1,500,000

The Project will be owned and operated by HealthEast, HealthEast Bethesda Hospital, HealthEast Woodwinds Hospital, HealthEast St. Joseph's Hospital and HealthEast St. John's Hospital, Minnesota non-profit corporations (each an "Obligor" and collectively the "Obligors").

It is proposed that the HRA would issue the bonds or other obligations to finance the Project. The City has been advised that Council approval of the bonds is required under Section 147(f) of the Internal Revenue Code because the Project is located in the City.

The Obligors have proposed combining the financing for the Project with the financing of other facilities which are located in the of Cities of Maplewood and Saint Paul, Minnesota, with the total amount of the obligations to be issued presently being estimated not to exceed $20,000,000.

The obligations if and when issued will not constitute a charge, lien or encumbrance upon any property of the City, and such obligations will not be a general or moral obligation of the City or a charge against the general credit or taxing powers of the City, but will be payable from sums to be paid by the Obligors pursuant to a revenue agreement.

At the time and place fixed for the Public Hearing, the City Council will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. Written comments will be considered if submitted at the above City office on or before the date of the hearing. Anyone desiring to be heard during this public hearing will be afforded an opportunity to do so.

All interested parties will be heard.

Dated this 11th day of June, 2008

BY ORDER OF THE CITY COUNCIL

Dwight W. Picha

Community Development Director

The City of Woodbury is subject to Title II of the Americans with Disabilities Act, which prohibits discrimination on the basis of disability by public entities. The City is committed to full implementation of the Act to our services, programs, and activities. Information regarding the provisions of the Americans with Disabilities Act is available from the City Administrator's office at 651-714-3523. Auxiliary aids for disabled persons are available upon request at least 72 hours in advance of an event. Please call the ADA Coordinator at 651-714-3523 (TDD 651-714-3568) to make arrangements.

(Published in the Woodbury Bulletin on Wednesday, June 11, 2008.)

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