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EXHIBIT D <br /> <br />NOTICE OF PUBLIC HEARING ON A PROPOSED HOUSING <br />PROGRAM AND PROJECT AND THE ISSUANCE OF REVENUE <br />BONDS BY CITY OF ELK RIVER, MINNESOTA <br /> <br /> NOTICE IS HEREBY GIVEN that a public hearing shall be conducted <br />by the City Council of the City of Elk River (the "City") on a proposal by Evans <br />Park, Inc. and St. Therese Home, Inc., each of which is a Minnesota nonprofit <br />corporation, that the City, or the other Participating Jurisdiction named <br />below, acting pursuant to a joint powers agreement (the "Joint Powers <br />Agreement") between the City and the City of New Hope (together referred to <br />as the "Participating Jurisdictions"), issue revenue bonds, pursuant to <br />Minnesota Statutes, Chapter 462C, as amended. <br /> <br /> Under the proposal, the City, or the other Participating Jurisdiction, <br />acting pursuant to the Joint Powers Agreement, will issue its revenue bonds <br />(the "Bonds"), in one or more series, and a portion of the proceeds of the Bonds <br />(the "Evans Park Portion") would be loaned to Evans Park, Inc., a Minnesota <br />nonprofit corporation, to pay costs of financing the Evans Park Project <br />described below. Proceeds of the Bonds not constituting a part of the Evans <br />Park Portion would be loaned to St. Therese Home, Inc., a Minnesota nonprofit <br />corporation ("St. Therese"), and applied to pay or refinance costs of acquiring, <br />constructing, equipping, and furnishing senior housing and nursing facilities <br />(the "St. Therese Portion"), owned and operated by St. Therese. The St. <br />Therese Portion would be applied specifically to the refunding of the <br />outstanding City of New Hope Industrial Development Revenue Bonds (St. <br />Therese Home, Inc. Project), Series 1977, originally issued in the amount of <br />$13,375,000 and currently outstanding in the amount of $3,105,000, and to the <br />acquisition and construction of improvements to the existing senior housing <br />and nursing facilities owned and operated by St. Therese and located at 8000 <br />Bass Lake Road, New Hope, Minnesota. <br /> <br /> The proposed Evans Park Project consists of the acquisition, <br />construction, equipping, and furnishing of approximately 20 units of rental <br />housing facilities for seniors, to be located at Joplin Street and US Highway <br />10, in Elk River, Minnesota, adjacent to the existing assisted-living facility <br />owned and operated by Evans Park, Inc. The Evans Park Project will be <br />owned and operated by Evans Park, Inc. or a commonly controlled affiliate. <br /> <br />D-1 <br /> <br /> <br />