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NOTICE OF PUBLIC HEARING <br />ON A PROPOSAL FOR AN INDUSTRIAL <br />FACILITIES DEVELOPMENT PROJECT <br /> <br /> Notice is hereby given that the City Council of the <br />City of Ramsey, Minnesota (the "City"), will meet at the City <br />Hall, 15153 Nowthen Boulevard Northwest, in the City at 7:00 p.m. <br />on March 9, 1999, to consider the proposal of Knoll Properties, <br />LLC, that the City assist in financing a project hereinafter <br />described by the issuance of industrial development revenue <br />bonds. <br /> <br />Description of Project <br /> <br />An approximately 80,000 square foot manufacturing <br />facility to be located on Sunwood Drive Northwest in <br />the A.E.C. Energy Park just off the intersection of <br />Sunwood Drive and Anoka County Road 116 known as <br />Industry Avenue in the City and consists of the <br />acquisition of land and improvements thereon and the <br />construction and equipping of the facility. <br /> <br /> The maximum aggregate estimated principal amount of <br />bonds or other obligations to be issued to finance this project <br />is $4,500,000. The project will be initially owned by the <br />Company and leased to and operated by Anderson & Dahlen, Inc. <br /> <br /> The bonds or other obligations if and when issued will <br />not constitute a charge, lien or encumbrance upon any property of <br />the City except the project, and such bonds or obligations will <br />not be a charge against the City's general credit or taxing <br />powers but will be payable from sums to be paid by the Company <br />pursuant to a revenue agreement. <br /> <br /> A draft copy of the proposed application to the <br />Commissioner of the Department of Trade and Economic Development, <br />State of Minnesota, for approval of the project, together with <br />all attachments and exhibits thereto, is available for public <br />inspection during normal business hours, Monday through Friday, <br />at the City Hall in the City. <br /> <br /> At the time and place fixed for the Public Hearing, the <br />City Council of the City will give all persons who appear at the <br />hearing an opportunity to express their views with respect to the <br />proposal. In addition, interested persons may file written <br />comments respecting the proposal with the Administrator at or <br />prior to said public hearing. <br /> <br />[Publish February 19th] <br /> <br />1021940.1 <br /> <br /> <br />