NOTICE IS HEREBY GIVEN that the Board of Commissioners (the “Board”) of the Port
Authority of the City of Saint Paul (the “Authority”) will hold a public hearing on Tuesday, January 26,
2021, beginning at 2:00 p.m. remotely by telephone and electronic means to consider a proposal for the
issuance by the Authority of one or more series of tax-exempt revenue bonds (the “Bonds”) pursuant to
Minnesota Statutes, Section 469.152-469.1655, as amended (the “Act”).
The proceeds of proposed Bonds will be loaned by the Authority to District Energy St. Paul, Inc.,
a Minnesota nonprofit corporation (“District Energy”), in order to: (i) current refund the outstanding
principal amount of the following indebtedness issued by the Housing and Redevelopment Authority of
the City of Saint Paul, Minnesota (the “HRA”), for the benefit of District Energy: (a) $5,230,000 original
principal amount District Heating Revenue Bond, Series 2013C (501(c)(3)) (“Heating 2013C Bonds”),
and (b) $4,770,000 original principal amount District Cooling Revenue Bond, Series 2013C (501(c)(3))
(“Cooling 2013C Bonds” and, together with the Heating 2013C Bonds, the “Prior Bonds”), the proceeds
of which were used to finance an extension of the System (defined below) and capital improvements to
the Heating Plant (defined below) and Cooling Plant (defined below); (ii) finance certain improvements,
extensions, and enhancements to the local hot water district heating system and the local chilled water
district cooling system (the “System”) of District Energy throughout downtown Saint Paul, Minnesota
(the “City”) and the surrounding area (generally described as bounded by Pennsylvania Avenue, Phalen
Boulevard, and Cayuga Street on the North, Marion Street, Kellogg Boulevard, and Grand Avenue on the
West, Caesar Chavez Street on the South, and State Highway 52 and Payne Avenue on the East), in an
amount of tax-exempt bond proceeds not to exceed $6,000,000; (iii) finance capital improvements to
District Energy’s heating plant located at 76 West Kellogg, Saint Paul, Minnesota 55102 (the “Heating
Plant”), in an amount of tax-exempt bond proceeds not to exceed $4,000,000; (iv) finance capital
improvements to District Energy’s cooling plant located at 229 10th Street East, Saint Paul, Minnesota
55101 (the “Cooling Plant”), in an amount of tax-exempt bond proceeds not to exceed $2,000,000 (the
facilities described in items (i) through (iv) are hereinafter collectively referred to as the “Project”);
(vi) finance capitalized interest on the Bonds for a period of time and any necessary reserves to secure the
Bonds; and (vii) pay costs of issuance for the Bonds. The Project will be owned by District Energy and
will be operated by District Energy or an affiliated entity. The aggregate face amount of the Bonds
proposed to be issued is presently estimated not to exceed $15,000,000.