HomeMy WebLinkAboutResolution 80-36RESOLUTION NO. 80~6
RESOLUTION CALLING FOR A PUBLIC
HEARING ON A PROPOSAL TO UNDERTAKE AND
FINANCE AN INDUSTRIAL DEVELOPMENT PROJECT
WHEREAS, a representative of Ruvelson & Associates, Inc. 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 Ruvelson & Associates, Inc. has 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. , 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");
2. The Clerk of the City 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.
Mayor
Offered by: He { ntz
Seconded by: Hentges
Roll Call: Logacz, Heintz, Hentges, Nawrock[--aye
Norberg-- nay
/ g~cretary 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 August 25, 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
construction of a building and the acquisition and installation of equipment
therefor for use as an office building to be owned by Ruvelson & Associates, Inc.
for use in its business. The estimated total amount of the proposed bond issue is
$1,000,000. 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.
Ail 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