Notice is hereby given that the City Council of the City of Rushford, Minnesota (the “City”), will meet in the Rushford City Hall, 101 North Mill Street, in the City, at 6:30 p.m. on Monday, January 12, 2026, to consider the proposal of WSUREF LLC, a Minnesota limited liability company (the “Borrower”), the sole member of which is Winona State University Foundation (the “Foundation”), a Minnesota nonprofit corporation, to approve the issuance by the City and one or more other governmental entities (collectively, the “Issuers”) of revenue obligations (the “Notes”), in one or more series, under Minnesota Statutes, Sections 469.152 through 469.165 (the “Act”), in order to finance the cost of a project located in Winona, Minnesota (“Winona”).
The proceeds of the Notes will be used to (i) finance, and refinance by the prepayment of prior taxable obligations, in part, the acquisition, construction, and equipping of an approximately 85,566 square-foot student housing facility consisting of approximately 183 units with approximately 344 beds, including 2 director units , to be located on approximately one acre on the northeast corner of Main Street and West Mark Street, in Winona (the “Facility”); (ii) fund required reserve funds, if any; and (iii) pay all or a portion of the costs of issuance (collectively, the “Project”). The Facility will be owned by the Borrower, the sole member of which is the Foundation, and leased to and operated by Winona State University.
The total maximum aggregate estimated principal amount of notes or other obligations expected to be issued by the Issuers is $26,000,000, with the maximum aggregate estimated principal amount to be issued by the City to be $9,000,000.
The obligations, as and when issued, will not constitute a charge, lien, or encumbrance upon any property of the City, the other Issuers, or Winona, except the Project and the revenues to be derived from the Project. Such notes or obligations will not be a charge against the City’s, the other Issuers’, or Winona’s general credit or taxing powers but are payable from sums to be paid by the Borrower pursuant to a revenue agreement.
A copy of the application to the Minnesota Department of Employment and Economic Development is on file and available for public inspection at the office of the City Clerk-Treasurer at the address above during regular office hours, except legal holidays.
At the time and place fixed for the public hearing, the City Council of the City will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. Written comments will be considered if submitted at the above City office on or before the date of the hearing.
Dated: December 22, 2025
BY ORDER OF THE CITY COUNCIL OF THE CITY OF RUSHFORD, MINNESOTA
By Tiffany Jacobson
Its Deputy Clerk
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