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Notice of Public Hearing on a Proposal For Reissuance of a Commercial Development Revenue Note


Fri, Dec 20th, 2013
Posted in All Legals

(Commonweal Theatre Company Project)

Notice is hereby given that a public hearing shall be conducted by the City Council of the City of Lanesboro, Minnesota on Monday, January 6, 2014 at 5:30 p.m. at the City Hall located at 202 Parkway Avenue South, Lanesboro, Minnesota, to consider the proposal of Commonweal Theatre Company, a Minnesota nonprofit corporation (“Borrower”), that the City assist in refinancing the acquisition, construction and equipping of an approximately 13,000 square foot two story theatre facility to be located at 208 Parkway Avenue North in the City (the “Project”) and certain other costs related to the Project by the amendment to and reissuance of a revenue note in an amount not to exceed $1,000,000 pursuant to Minnesota Statutes, Sections 469.152 to 469.1655, as amended. The Project is owned by the Borrower.

The note if and when amended and reissued will not constitute a charge, lien or encumbrance upon any property of the City except the Project, and such note will not be a charge against the City’s 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.

City of Lanesboro

/s/ David Todd

City Administrator-Clerk

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