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NOTICE OF PUBLIC HEARING ON PROPOSED PRO

NOTICE OF PUBLIC HEARING ON PROPOSED PROJECTS AND THE ISSUANCE OF PRIVATE ACTIVITY BONDS TO FINANCE HEALTH CARE FACILITIES DULUTH ECONOMIC DEVELOPMENT AUTHORITY, ST. LOUIS COUNTY, MINNESOTA Notice is hereby given that the Board of Commissioners of the Duluth Economic Development Authority (the “Issuer”) will meet on Wednesday, April 20, 2022 at 12:15 p.m., or as soon thereafter as reasonably possible, in the Duluth City Council Chambers at City Hall, 411 West First Street, in Duluth, Minnesota, to conduct a public hearing on a proposal that the Issuer issue its revenue obligations (the “Obligations”), in one or more series, under Minnesota Statues, Sections 469.152 through 469.1655, in order to undertake and finance, refinance and reimburse the cost of the proposed projects described below (the “Projects”). Each of the Projects will be owned and operated by St. Luke’s Hospital of Duluth (the “Borrower”), or its affiliate, Lake View Memorial Hospital, Inc. (“Lake View”). Each of the Borrower and Lake View is a Minnesota nonprofit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”). The Projects will consist of: (a) the acquisition of St. Luke’s Pavilion Surgery Center, located at 920 East 1st Street in Duluth, Minnesota; (b) the design, expansion, construction, improvement, renovation, furnishing and equipping of capital improvements to the Borrower’s main hospital campus generally located at 915 East 1st Street, and encompassing a majority of the property bounded by East Superior Street, North 9th Avenue East, East Third Street, and North 12th Avenue East in Duluth, Minnesota (the “St. Luke’s Campus Facilities Project”); and (c) the design, expansion, construction, improvement, renovation, furnishing and equipping of capital improvements to the surgical area at Lake View Hospital, generally located at 1010 Fourth Street and 325 11th Avenue, in Two Harbors, Minnesota (the “Lake View Facilities Project”). The estimated total amount of the Obligations will not exceed $85,000,000. The proposed revenue obligations will be qualified 501(c)(3) bonds, as defined in Section 145 of the Code. Proceeds of the Obligations in the approximate amount of up to $80,000,000 will be used to finance or reimburse costs of the St. Luke’s Campus Facilities Project. Proceeds of the Obligations in the approximate amount of up to $9,000,000 will be used to finance or reimburse costs of the Lake View Facilities Project. Proceeds of the Obligations may also be used to fund a debt service reserve fund, pay capitalized interest, and pay costs of issuance of the Obligations. The Obligations 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, the State of Minnesota or any political subdivision thereof to pay the Obligations or the interest thereon or to enforce payment against any property of the Issuer, State of Minnesota or any political subdivision thereof except those projects, or portions thereof, mortgaged or otherwise encumbered. A draft copy of the proposed Application to the Minnesota Department of Employment and Economic Development for approval of the Projects, together with all attachments and exhibits thereto, is available for public inspection at the office of the Executive Director at 411 West First Street, Room 402, Duluth, Minnesota, 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 Executive Director in advance of the hearing. (April 6, 2022) 49976