City of Cologne
NOTICE OF PUBLIC HEARING
ON A PROPOSAL FOR
ISSUANCE OF CHARTER
REVENUE BONDS (COLOGNE ACADEMY PROJECT)
Notice is hereby given that a public hearing shall be conducted by the City Council of the City of Cologne, Minnesota (the City) on Monday, September 15, 2014 at 7:00 P.M. at Cologne City Hall/Community Center, located at 1211 Village Parkway, Cologne, Minnesota, to consider the proposal of Cologne Academy Building Company, a Minnesota nonprofit corporation (the Borrower), that the City issue revenue bonds or other obligations, in one or more series (the Bonds), pursuant to Minnesota Statutes, Sections 469.152 to 469.1655, as amended (the Act), in order to finance the Project hereinafter described.
The Project consists of the acquisition by the Borrower of the existing charter school facility located at 1221 Village Parkway in the City and the construction and equipping an approximately 33,138 square foot addition to the K-8 charter school facility consisting of approximately 20,924 square foot of additional class room space and an approximately 12,214 square foot gymnasium, including parking lot additions and restructuring (collectively, the Project) to be leased to Cologne Academy.
The Project will be owned by the Borrower and operated by Cologne Academy. The maximum estimated principal amount of the Bonds to be issued to finance the Project is $15,000,000.
A draft copy of the proposal and associated materials is available for public inspection from 8:00 a.m. to 4:30 p.m., Monday through Friday, in the City Administrators office in City Hall.
The Bonds or other obligations if and when issued will not constitute a charge, lien or encumbrance upon any property of the City except the Project, and such note or obligations will not be a charge against the Citys general credit or taxing powers, but will be payable from sums to be paid by the Borrower pursuant to a revenue agreement.
At the time and place fixed for the public hearing, the City will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. In addition, interested persons may file written comments respecting the proposal with the City Administrator at or prior to the public hearing.
269502 08/28/14 Cologne Academy PHN
City of Cologne