HomeMy WebLinkAboutResolution 81-27RESOLUTION NO. 81-77
RESOLUTION ESTABLISHING THE DATE FOR A
PUBLIC HEARING ON A PROPOSAL TO UNDERTAKE
AND FINANCE A PROJECT UNDER MINNESOTA
STATUTES, CHAPTER 474
WHEREAS, the Minnesota Municipal Industrial Development Act, Minnesota
Statutes, Sections 474.01 et seq. (the "Act"), authorizes the issuance of revenue
bonds to finance projects; and
WHEREAS, the term "project" is defined by Section 474.02, subdivision la,
of the Act to include "any properties, real or personal, used or useful in connection
with a revenue producing enterprise"; and
WHEREAS, a representative of Terry Evenson (the "Developer") has
presented this City Council with information concerning a proposed project (the
"Project") to be acquired and constructed within the City of Columbia Heights (the
"City"); and
WHEREAS, the Developer has requested that the City resolve to issue
revenue bonds pursuant to the Act to finance the Project and has presented to the
City 'a form of preliminary ordinance concerning such issuance with a request that
such preliminary ordinance, attached hereto as Exhibit A, be considered for
adoption by the City Council of the City; and
WHEREAS, Section 474.01, subdivision 7b, of the Act provides that the City
Council must conduct a public hearing on any proposal to undertake and finance a
project; and
WHEREAS, Section 474.01, subdivision 7b, of the Act provides that notice of
the time and place of such public hearing and stating the general nature of the
project and an estimate of the principal amount of bonds or other obligations to be
issued to finance the project must be published at least once not less than fifteen
(15) days nor more than thirty (30) days prior to the date fixed for the public
hearing in the official newspaper of the City and a newspaper of general
circulation in the City; and
WHEREAS, Section 474.01, subdivision 7b, of the Act provides that the
notice must state that a draft copy of the proposed application (the "Application")
to the Commissioner of Securities of the Securities Division of the Department of
Commerce of the State of Minnesota for approval of the Project, together with all
attachments and exhibits, is on file with the City and available for public inspec-
tion'; and
WHEREAS, the Developer has presented to the City a form of public notice,
attached hereto as Exhibit B, with a request that the City Council establish a date
for a public hearing on the proposal to undertake and finance the Project and to
authorize publication of the form of public notice provided by the Developer;
NOW, THEREFORE, BE IT RESOLVED THAT:
1. The City Council of the City will conduct a public hearing on the
proposal to undertake and finance the Project on the 8th day of June, 1981.
2. The City Manager is hereby authorized to cause a public notice,
substantially in the form of the notice attached hereto as Exhibit B, to be published
in the official newspaper of the City and a newspaper of general circulation in the
City.
3. The City Manager is hereby authorized and directed to have available
for public inspection in the offices of the City a draft copy of the proposed
Application, together with all attachments and exhibits thereto.
Offered by: Logacz
Seconded by: Heintz
Roll Call: All ayes
Date of Passage: May 18, 1981
Bruce G Nawrocki, Mayor
/~Anne Student, Council
Secretary