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NOTICE OF PUBLIC <br /> HEARING ON APPROVAL OF <br /> JOINT POWERS <br /> AGREEMENT AND ISSUANCE <br /> OF REVENUE OBLIGATIONS <br /> CITY OF ELK RIVER, <br />MINNESOTA <br />NOTICE IS HEREBY GIVEN <br />that the City Council (the <br />"Council") of the City of Elk River, <br />Minnesota (the 'City") will hold a <br />public hearing on assisting <br />Opportunity Partners, a Minnesota <br />nonprofit corporation, with financ- <br />ing a project consisting of refinanc- <br />ing and prepaying outstanding <br />mortgage loans incurred to acquire <br />group treatment residences located <br />at 11754 191-1/2 Ave. and 497 <br />Gates Ave. in Elk River, Minnesota. <br />Under the proposal, the Hennepin <br />County Housing and <br />Redevelopment Authority (the <br />"Hennepin County HRAT) will issue <br />up to $4,000,000 in aggregate prin- <br />cipal amount of its revenue obliga- <br />tions pursuant to Municipal <br />Industrial Development Act, <br />Minnesota Statutes, Sections <br />469.152 through and including <br />469.1651, as amended, in order to <br />finance the project. The revenue <br />obligations will be limited obliga- <br />tions of the Hennepin Coun[y HRA <br />payable solely from the revenues <br />pledged to the payment thereof, <br />and will not be a general obligation <br />of, or be secured by the taxing <br />power of, the Hennepin County <br />HRA or the City. <br /> The hearing will be held in City <br />Hall at 13065 Orono Parkway in <br />the City of Elk River, Minnesota on <br />Monday, September 10, 2001, at <br />approximately 6:30 o'clock P.M. At <br />said time and place the Board shall <br />give all parties who appear or sub- <br />mit written comments an opportu- <br />nity to express their views with <br />respect ~o the proposal ~o finance <br />the project. <br /> Dated: August 15, 2001. <br /> /s/Sandra Pe~ne <br /> City Clerk <br /> (Ag22) <br /> <br /> <br />