HomeMy WebLinkAboutResolution 80-35RESOLUTION NO. 80-35
RESOLUTION CALLING FOR A PUBLIC
HEARING ON A PROPOSAL TO UNDERTAKE AND
FINANCE AN INDUSTRIAL DEVELOPMENT PROJECT
WHEREAS, a representative of Columbia Heights Center, a Minnesota
partnership (the "Partnership"), has presented this City Council (the "Council") with
information concerning a proposed project within the City of Columbia Heights
(the "City"); and
WHEREAS, a representative of the Partnership requested that the City of
Columbia Heights resolve to issue industrial development bonds or notes and has
presented to the City a form of preliminary ordinance concerning such issuance
with a request that such preliminary ordinance, heretofore published as Ordinance
No. 919, be considered for adoption at the next regular meeting of the Council or
at a special meeting of the Council;
BE IT RESOLVED THAT,
1. The City will conduct a public hearing on the proposal to undertake
and finance the industrial development project or projects described in the Notice
of Public Hearing attached hereto as Exhibit A (the "Notice") and incorporated
herein by reference;
2. The City Manager is hereby authorized to cause the Notice, or a
notice in substantially the same form as the Notice, to be published not more than
thirty (30) nor less than fifteen (15) days before the date fixed in the Notice as the
date of the hearing, in the official newspaper and a newspaper of general
circulation of the City of Columbia Heights.
Passed this 25th day of June, 1980.
May~r-
Offered by:
Seconded by:
Roll Call:
Heintz
Hentges
Heintz, Hentges, Logacz, Norberg, Nawrocki
b-~eeretary to the Council
EXHIBIT A
NOTICE OF PUBLIC HEARING ON A PROPOSED
PROJECT AND THE ISSUANCE OF INDUSTRIAL
DEVELOPMENT REVENUE BONDS UNDER THE
MUNICIPAL INDUSTRIAL DEVELOPMENT ACT,
MINNESOTA STATUTES, CHAPTER 474, AS AMENDED
THE CITY OF COLUMBIA HEIGHTS, MINNESOTA
NOTICE IS HEREBY GIVEN that the governing body of the City of Columbia
Heights, Minnesota (the "City"), will meet on July 17, 1980, at 8:00 p.m. at City
offices in Columbia Heights, Minnesota, for the purpose of conducting a public
hearing on a proposal that the City issue its revenue bonds under the Municipal
Industrial Development Act, Minnesota Statutes, Chapter 474, as amended, in order
to finance the cost of a project. The proposed project will consist of the
acquisition of land within the City and the construction thereon of a building or
buildings and the acquisition and installation of equipment therefor for use as a
shopping center to be owned by Columbia Heights Center, a Minnesota partnership,
for use in the partnership's business. The estimated total amount of the proposed
bond issue is $5,635,000. The bonds shall be limited obligations of the City and the
bonds and interest thereon shall be payable solely from the revenues pledged to the
payment thereof, except that such bonds may be secured by a mortgage and other
encumbrance on the project. No holder of any such bond shall ever have the right
to compel any exercise of the taxing power of the City of Columbia Heights to pay
the bonds, or the interest thereon, nor to enforce payment against any property of
the City except the project.
A draft copy of the proposed application to the Minnesota Commissioner of
Securities for approval of the project, together with all attachments and exhibits
thereto, is available for public inspection at the City offices.
All persons interested may appear and be heard at the time and place set
forth' above.
[ Date of Publication]
BY ORDER OF THE CITY COUNCIL
OF THE CITY OF COLUMBIA HEIGHTS