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Public Notice NOTICE OF PUBLIC HEARING O

Public Notice NOTICE OF PUBLIC HEARING ON A PROPOSED PROJECT AND THE ISSUANCE OF REVENUE BONDS (ALEXANDRIA TECHNICAL & COMMUNITY COLLEGE FOUNDATION PROJECT) NOTICE IS HEREBY GIVEN that the Board of Directors of the Lakes Area Economic Development Authority (the “Authority”) will meet on Thursday, March 2, 2023 at 4:00 p.m., at the offices of the Authority, located at 324 Broadway Street, Suite 101, Alexandria, Minnesota, for the purpose of conducting a public hearing regarding a plan of finance for the proposed issuance by the Authority of its revenue bonds, in one or more series, in an aggregate principal amount of not to exceed $10,000,000 (the “Bonds”), the proceeds of which will be loaned to the Alexandria Technical & Community College Foundation, a Minnesota nonprofit corporation (the “Corporation”). Proceeds of the Bonds are to be used to provide funds to (i) finance the acquisition, construction and equipping of a new approximately 150-bedroom student housing facility to be located at the intersection of 15th Street and Jefferson Street in Alexandria, Minnesota 56308; (ii) finance the renovation, rehabilitation, improving and equipping of an existing 150-bedroom student housing facility located at 318 17th Ave E in Alexandria, Minnesota 56308; and (iii) pay certain costs related to the issuance of the Bonds, all under authority of Minnesota Statutes, Sections 469.152 to 469.165, inclusive (collectively, the “Project”). The Project will be owned and operated by the Corporation. The Bonds and the interest thereon shall be limited obligations of the Authority and shall not be payable from nor charged upon any funds other than the revenue pledged to their payment, nor shall the Authority be subject to any liability on them. The Bonds will be “qualified 501(c)(3) bonds” under the Internal Revenue Code of 1986, as amended. No holder of the Bonds shall ever have the right to compel any exercise of the taxing power of the Authority to pay the Bonds or the interest thereon, nor to enforce payment of them against any property of the Authority 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 Project, together with all attachments and exhibits thereto, is available for public inspection at the office of the Authority’s Executive Director, located at 324 Broadway Street, Suite 101, Alexandria, 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 file written comments to the Authority’s Executive Director in advance of the hearing. Dated: February 15, 2023 (Feb. 15, 2023) 194246