NOTICE OF PUBLIC HEARING ON PROPOSED PROJECTS AND THE ISSUANCE OF PRIVATE ACTIVITY BONDS

NOTICE OF PUBLIC

HEARING ON PROPOSED PROJECTS AND THE

ISSUANCE OF PRIVATE

ACTIVITY BONDS

CITY OF CLOQUET

CARLTON COUNTY

MINNESOTA

NOTICE IS HEREBY GIVEN that the City Council of the City of Cloquet, Minnesota (the "Issuer") will meet on Tuesday, March 5, 2013, at 7:00 p.m., or as soon thereafter as reasonably possible in the City Hall located at 1307 Cloquet Avenue, Cloquet, Minnesota, for the purpose of conducting a public hearing on the proposal that the Issuer issue its revenue obligations, in one or more series, under Minnesota Statutes, Sections 469.152 through 469.165, in order to undertake and finance the cost of two projects. The first of the proposed projects will be owned and operated by Pinewood-Cloquet, 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 (i) financing the improvements to sidewalks and parking lot at the facility located at 915-18th Street in the City of Cloquet, Minnesota at which Pinewood-Cloquet, Inc. provides community-based day training and habilitation programs and services (the "Cloquet Facilities"); (ii) refinance the outstanding principal amount of the Issuer's $255,000 Revenue Note (Pinewood-Cloquet Project), Series 2006A previously issued to (a) finance a new heating system and a roof for the Cloquet Facilities and (b) refinance the renovation of and the acquisition, construction and equipping of an expansion to the Cloquet Facilities and (iii) pay costs associated with the financing and refinancing. The estimated total amount of the proposed revenue obligations for this project will not exceed $305,000.

The second of the proposed projects will be owned and operated by Pinewood-Duluth, 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 (i) financing the installation of a new roof, windows, boiler and thermostats at the facilities located at 1102 East 4th Street in the City of Duluth, Minnesota at which Pinewood-Duluth provides community-based day training and habilitation programs and services (the "Duluth Facilities"); (ii) refinance the outstanding principal amount of the Issuer's $285,000 Revenue Note, Series 2006B (Pinewood-Duluth Project) previously issued to finance (a) improvements at the Duluth Facilities required for compliance with the fire code; and (b) refinance (1) the renovation to; (2) the acquisition, construction and equipping of an expansion; and (3) acquisition of the Duluth Facilities; and (iii) pay costs associated with the financing and refinancing. The estimated total amount of the proposed revenue obligations for this project will not exceed $385,000. The aggregate amount to be issued for both projects will not exceed $690,000.

The obligations to be issued for the projects 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 Applications to the Minnesota Department of Employment and Economic Development for approval of each project, together with all attachments and exhibits thereto, are available for public inspection at the office of the Administrator at 1307 Cloquet Avenue, Cloquet, Minnesota 55720-1656, between the hours of 8:00 a.m. and 4:30 p.m. Monday through Friday, 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.

Tags: legal notices, legals