Pioneer Press - Twin Cities, HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA NOTICE OF PUBLIC HEARING ON A PROPOSAL FOR THE ISSUANCE OF CHARTER SCHOOL LEASE REVENUE REFUNDING BONDS (COMMUNITY OF PEACE ACADEMY PROJECT) NOTICE IS HEREBY GIVEN that the Board of Commissioners (the "Board") of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (the "Authority") will hold a public hearing on Wednesday, September 23, 2015, beginning at 2:00 p.m. at the City Council Chambers on the third floor of City Hall, 15 Kellogg Boulevard W., in Saint Paul, Minnesota to consider a proposal for the issuance by the Authority of revenue bonds in one or more series (the "Bonds") pursuant to Minnesota Statutes, Sections 469.152-469.1655, as amended (the "Act"). The proceeds of the Bonds will be loaned to Community of Peace Building Company, a Minnesota nonprofit corporation (the "Borrower") to (i) refund the Authority's Lease Revenue Bonds (Community of Peace Academy Project), Series 2006 which previously financed and refinanced the acquisition, construction, renovation and equipping of the school facility at 471 Magnolia Avenue East (the "Schoolhouse") in the City of Saint Paul, Minnesota (the "City") operated by the Community of Peace Academy, a Minnesota nonprofit corporation and public charter school (the "School"); (ii) fund a debt service reserve fund; (iii) pay a portion of the interest on the Bonds; and (iv) pay a portion of the costs of issuing the Bonds (the "Project"). The Schoolhouse is owned by the Borrower and leased to and operated by the School. Following the public hearing, the Authority will consider adopting a resolution approving the Project and the issuance of the Bonds to finance the Project. The aggregate face amount of the Bonds proposed to be issued is presently estimated not to exceed $15,500,000. The Bonds will be special, limited revenue obligations of the Authority payable solely from the revenues expressly pledged to the payment thereof, and will not constitute a general or moral obligation of the Authority or the City, and will not be secured by the taxing powers of the Authority or the City or any assets or property of the Authority or the City, but will be payable from loan payments made by the Borrower to the Authority pursuant to a Loan Agreement. At the time and place fixed for the Public Hearing, the Board of Commissioners of the Authority 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 office on or before the date of the hearing. Interested persons may file written comments with respect to the proposal prior to the public hearing with the Department of Planning and Economic Development to the attention of Jenny Wolfe (651) 266-6680. HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL, MINNESOTA /s/ Jonathan Sage-Martinson Executive Director
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