City Council Resolution 1995-1 ExhibitEXHIBIT A
CITY OF MONTICELLO
NOTICE OF PUBLIC HEARING ON A HOUSING PLAN AND
ISSUANCE OF REVENUE BONDS TO FINANCE A HOUSING PROGRAM
UNDER MINNESOTA STATUTES, CHAPTER 462C FOR THE ACQUISITION
AND CONSTRUCTION OF A MULTIFAMILY HOUSING DEVELOPMENT
NOTICE IS HEREBY GIVEN that the Monticello City Council (the "Council")
will hold a public hearing on Monday, February 13, 1995 at 7:00 p.m. at City Hall,
250 East Broadway, Monticello, Minnesota, to consider a housing plan and a program
for the issuance of revenue bonds under Minnesota Statutes, Chapter 462C, as
amended, to finance a multifamily housing development (the "Program") . At the
public hearing, the Council will consider adoption of a resolution approving the
housing plan and giving preliminary or final approval to the issuance of revenue
bonds under the Program for the acquisition and construction of the Monticello
Senior Housing Alliance Project (the "Project") . The aggregate face amount of
revenue bonds proposed to be issued to finance the Project is presently estimated
not to exceed $3, 500, 000.
The Project consists of a 48-unit multifamily rental facility intended primarily
for elderly persons, to be located at 1215 Hart Boulevard in the City of Monticello,
and will be owned and operated by Monticello Senior Housing Alliance, Inc. The
revenue bonds will be issued by the City of Monticello and will be ~mit~ dhO regf Viand
of the issuer payable solely from the revenues pledged to the pay
will not be a general obligation of or be secured by the taxing power of the City of
Monticello .
A copy of the proposed housing plan and Program is on file in City Hall.
Anyone desiring to be heard during this public hearing will be afforded an
opportunity to do so .
Dated : [date of publication ]
Published in the Monticello Times 1/12/95.
s~alsl2
MN190-47
BY ORDER OF THE CITY
COUNCIL OF THE CITY OF
MONTICELLO, MINNESOTA
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B .c./~
City Ad nistrator