HomeMy WebLinkAboutResolution 80-42RESOLUTION NO. 80-42
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 con-
cerning such issuance with a request that such preliminary ordinance, Ordinance
No. 927, be considered for adoption at the regular meeting of the Council on
September 8, 1980;
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 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.
Offered by: Logacz
Seconded by: Hentges
Roll Call: All ayes
Bruce .~N~awrocki, Mayor
~'e~tary to the C~ncil
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 September 8, 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 and construction of a building 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 sb~n 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