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HRA Public Hearing: June 26, 2019

Tuesday, June 11, 2019 - 6:08pm

HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE
CITY OF WOODBURY, MINNESOTA
NOTICE OF PUBLIC HEARING ON THE ISSUANCE OF A REVENUE
REFUNDING NOTE UNDER MINNESOTA STATUTES, SECTIONS 469.152 TO 469.1655, TO REFINANCE A PRIVATE SCHOOL FACILITY

NOTICE IS HEREBY GIVEN that the Board of Commissioners of the Housing and Redevelopment Authority in and for the City of Woodbury, Minnesota (the "Woodbury HRA") will hold a public hearing on Wednesday, June 26, 2019, beginning on or after 7:00 p.m. at City Hall, 8301 Valley Creek Road, Woodbury, Minnesota 55125-2320, to consider the issuance of a revenue refunding note under Minnesota Statutes, Sections 469.152 to 469.1655 (the "Note"). The Note is proposed to be issued to refinance the acquisition of land and the construction and equipping of the nonsectarian portions of an approximately 75,000 square foot elementary and junior high facility located at 4125 Woodbury Drive located in the City of Woodbury (the "City"), including a kitchen, cafeteria, and gymnasium, and the acquisition, construction, and equipping of an approximately 16,300 square foot addition thereto, including 14 classrooms (collectively, the "Project"). The Project is owned and operated by The Church of Saint Ambrose of Woodbury, a Minnesota religious parish corporation exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended.
The Project was originally financed with the proceeds of the Variable Rate Demand Private School Facility Revenue Bonds (Saint Ambrose Project), Series 1999, issued by the City on September 30, 1999, in the original aggregate principal amount of $6,000,000 and proceeds of the Private School Facility Revenue Note, Series 2006 (Saint Ambrose of Woodbury School Project), issued by the Woodbury Economic Development Authority on February 22, 2006, in the original aggregate principal amount of $2,915,000.
After the public hearing, the Board of Commissioners will consider the adoption of a resolution giving approval to the issuance of the Note to refinance the Project. The aggregate face amount of the Note proposed to be issued by the Woodbury HRA to refinance the Project is presently estimated not to exceed $6,800,000. The Note will be issued by the Woodbury HRA and will constitute a special, limited obligation of the Woodbury HRA payable solely from the revenues expressly pledged to the payment thereof, and will not constitute a general or moral obligation of the Woodbury HRA or the City and will not be secured by any taxing powers of the Woodbury HRA or the City nor any assets or property of the Woodbury HRA or City except the interests of the Woodbury HRA in the Project that may be granted to the Woodbury HRA in conjunction with this financing.
All persons interested may appear and be heard at the time and place set forth above, or may submit written comments to the City prior to the date of the hearing set forth above. Any questions regarding this public hearing may be directed to Karl Batalden, Community Development Coordinator, via karl.batalden@woodburymn.gov or 651-414-3438.

Dated this 12th day of June, 2019.
BY ORDER OF THE BOARD OF COMMISSIONERS OF THE HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF WOODBURY, MINNESOTA

Dwight W. Picha
HRA Clerk
The Woodbury HRA is subject to Title II of the Americans with Disabilities Act (the "ADA"), which prohibits discrimination on the basis of disability by public entities. The Woodbury HRA is committed to full implementation of the ADA to our services, programs, and activities. Information regarding the provisions of the ADA is available from the office of the Executive Director of the Woodbury HRA 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.
06/12/19


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