HomeMy Public PortalAbout1982-008RESOLUTION CALLING FOR A PUBLIC HEARING
ON A PROPOSAL FOR A COMMERCIAL
FACILITIES DEVELOPMENT PROJECT
PURSUANT TO THE MINNESOTA MUNICIPAL
INDUSTRIAL DEVELOPMENT ACT AUTHORIZING
THE PUBLICATION OF A NOTICE OF SAID HEARING
WHEREAS,
(a) Chapter 474, Minnesota Statutes,
known as the Minnesota Municipal Industrial
Development Act (the "Act") gives muni-
cipalities the power to issue revenue bonds
for the purpose of the encouragement and
development of economically sound industry
and commerce to prevent so far as possible
the emergence of blighted and marginal lands
and areas of chronic unemployment;
(b) The City Council of the City of
Medina (the "City") has received from The
West Creek Building, a general partnership
organized under the laws of the State of
Minnesota (the "Company") a proposal that the
City assist in financing a project
hereinafter described, through the issuance
of its industrial revenue bonds (which may be
in the form of a single debt instrument) (the
"Bonds") pursuant to the Act;
(c) Before proceeding with consider-
ation of the request of the Company it is
necessary for the City to hold a public
hearing on the proposal pursuant to Section
474.01, Subdivision 7b, Minnesota Statutes;
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Medina, Minnesota, as follows:
1. A Public Hearing on said proposal of the Company
will be held at the time and place set forth in the Notice of
Hearing hereto attached.
2. The general nature of the proposal and an
estimate of the principal amount of bonds to be issued to
finance the proposal are described in the form of Notice of
Hearing hereto attached.
3. The Notice of said Public Hearing shall be in
substantially the form contained in the Notice hereto attached.
4. A draft copy of the proposed application to the
Commissioner of Energy, Planning and Development, State of
Minnesota, for approval of the project, together with proposed
forms of all attachments and exhibits thereto, is on file in
the office of the City Clerk -Treasurer.
5. The City Clerk -Treasurer is hereby authorized and
directed to cause notice of said hearing to be given one
publication in the official newspaper and a newspaper of
general circulation available in the City, not less than 15
days nor more than 30 days prior to the date fixed for said
hearing, as shown in the notice of hearing hereto attached.
Adopted by the City Council of the City of Medina,
Minnesota, this 1 day of I } , 1982.
ATTEST:
City Clerk -Treasurer