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Faribault, city, seat of Rice county, southeastern Minnesota, U.S. It lies at the confluence of the Cannon and Straight rivers, in a mixed-farming and lake area, about 50 miles (80 km) south of Minneapolis. Fur trader Alexander Faribault arrived in the region in 1826 and set up a trading post at the city site in 1835. In 1852 Faribault founded the town, which was laid out and named for him; his house (1853) still stands....