Resolution - #20-088 - 05/12/2020

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EXHIBIT A NOTICE OF PUBLIC HEARING ON A PROPOSAL FOR THE CONSENT TO THE ISSUANCE OF SENIOR HOUSING REVENUE BONDS (SUITE LIVING SENIOR CARE OF RAMSEY PROJECT) Notice is hereby given that the City Council of the City of Ramsey, Minnesota (the "City") will meet at the City Hall, 7550 Sunwood Drive NW, in the City, at ______ P.M. on __________, ____________, 2020, to consider giving host approval and consent to the issuance by the City of Falcon Heights, Minnesota (the "Issuer") of revenue bonds, in one or more series (the "Bonds"), under Minnesota Statutes, Chapter 462C, as amended (the "Act"), in order to finance the cost of a project located in the City. Hampton Properties of Ramsey, LLC, a Minnesota limited liability company (the "Borrower"), whose sole member is Suburban Housing & Community Services Corporation, a California nonprofit corporation and 501(c)(3) organization, proposes to (i) finance, in part, the acquisition, construction, and equipping of an approximately 32-unit high acuity assisted living th and memory care senior housing facility located on approximately 1.75 acres on 139 Lane Northwest at the intersection of Jasper Street Northwest in the City (the "Facility"); (ii) fund capitalized interest on the Bonds; (iii) fund required reserve funds; (iv) refinance certain taxable debt of the Borrower; and (v) pay all or a portion of the costs of issuance (collectively, the "Project"). The Facility is and will be owned and operated by the Borrower. The maximum estimated principal amount of the bonds to be issued to finance the Project is $8,500,000. The Bonds or other obligations, if and when issued, will not constitute a charge, lien or encumbrance upon any property of the City or the Issuer, except the Project and the revenues to be derived from the Project. Such bonds or obligations will not be a charge against the City's general credit or taxing powers, but will be payable solely from sums to be paid by the Borrower pursuant to a revenue agreement. At the time, place, and manner fixed for the public hearing, the City Council will give all persons who appear at the hearing an opportunity to express their views with respect to the proposal. Written comments are encouraged and will be considered if submitted at the above City office on or before the date of the hearing.Comments may be emailed to meetings@cityoframsey.com<mailto:meetings@cityoframsey.com?subject=Public%20Commen t&body=The%20following%20is%20a%20public%20comment%20on%20the%20March%2024 %20Ramsey%20City%20Council%20Meeting. or telephoned to 763-433-9819. In accordance with the requirements of Minn. Stat. Section 13D.021, the City Council has determined that an in person meeting is not practical or prudent because of a health pandemic or an emergency declared under Chapter 12 of the Minnesota Statutes. Because of the health pandemic and emergency declaration, it has been determined that attendance at the regular meeting location by members of the public is not feasible. A-1 12579488v2