NOTICE OF PUBLIC
HEARING ON PROPOSED PROJECT AND THE
ISSUANCE OF PRIVATE
ACTIVITY BONDS TO
FINANCE HEALTH CARE
CITY OF TWO HARBORS,
LAKE COUNTY, MINNESOTA
NOTICE IS GIVEN that the City Council of the City of Two Harbors, Minnesota (the "Issuer") will meet on Monday, August 26, 2019, at 6:00 p.m., or as soon thereafter as reasonably possible in the City Hall at 522 First Avenue in Two Harbors, Minnesota, to conduct a public hearing.
The purpose of the public hearing is to consider the proposal that the Issuer issue its health care facilities revenue obligations, in one or more series, under Minnesota Statutes, Sections 469.152 through 469.1655, in order to undertake and finance a portion of the costs of a project. The proposed project will be owned and operated by Lake View Memorial Hospital, Inc., a Minnesota nonprofit corporation and organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and will consist of (a) renovation of the existing Lake View Medical Clinic, located at 1010 Fourth Street, Two Harbors, Minnesota, including its nursing support space; (b) capital improvements to Lake View Hospital, located at 325 - 11th Avenue, Two Harbors, Minnesota, including renovations to the kitchen and employee cafeteria; (c) infilling the space between the Lake View Medical Clinic and the Lake View Hospital consisting of a two-story connection with approximately 38,000 square feet (19,000 square feet per level) to provide new infusion therapy services, community space of education and conference rooms, consolidated hospital and clinic laboratories, additional specialty clinic space for physician outreach, new urgent care space, and space for a future outpatient surgery and procedures department; (d) financing capitalized interest; and (e) paying costs associated with the financing. The estimated total amount of the proposed revenue obligations will not exceed $6,000,000.
The obligations and the interest thereon shall be limited obligations of the Issuer and shall not be payable from nor charged upon any funds other than the revenue pledged to their payment, nor shall the Issuer be subject to any liability on them. No holder of the obligations shall ever have the right to compel any exercise of the taxing power of the Issuer to pay the obligations or the interest thereon, nor to enforce payment of them against any property of the Issuer except those projects, or portions thereof, mortgaged or otherwise encumbered.
A draft copy of the proposed Application to the Minnesota Department of Employment and Economic Development for approval of the project, together with all attachments and exhibits thereto, is available for public inspection at the office of the Administrator at 522 First Avenue, Two Harbors, Minnesota, between the hours of 7:30 a.m. and 5:00 p.m., Monday through Thursday, and between the hours of 7:30 a.m. and 11:30 a.m. on Fridays, except legal holidays.
All persons interested may appear and be heard at the time and place set forth above or may submit written comments to the Administrator in advance of the hearing.
Lake County News Chronicle: Aug. 2 & 9, 2019 #2779851