HomeMy WebLinkAbout1995-160 CCR1
Member Kathleen Carmody introduced the following resolution and
moved its adoption:
RESOLUTION NO. 95 -160
RESOLUTION CALLING FOR PUBLIC HEARING WITH RESPECT TO
THE PROPOSED REFINANCING OF FACILITIES FOR EARLE
BROWN COMMONS LIMITED PARTNERSHIP II
WHEREAS, a proposal has been made to this Council that the City issue its
refunding revenue bonds (the "Bonds") pursuant to Minnesota Statutes, Chapter 462C, as
amended, in order to refinance a project consisting generally of a 140 unit multifamily
housing facility at 6100 Summit Drive North in the City, which is owned by Earle Brown
Commons Limited Partnership II, a Minnesota limited partnership, and leased to various
tenants; and
WHEREAS, in order to comply with the requirements of Section 147(f) of the
Internal Revenue Code of 1986, as amended, this Council must conduct a public hearing on
the proposal and publish notice of the public hearing not less than 14 days prior to the date
fixed for the hearing.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Brooklyn Center, Minnesota, as follows:
1. A public hearing shall be conducted by this Council on the proposal to
undertake the issuance of the Bonds on Monday, August 28, 1995, at 7
p.m. or as soon thereafter as the matter may be heard at City Hall, 6301
Shingle Creek Parkway, at which hearing all parties who appear shall be
given an opportunity to express their views with respect to said proposal.
2. Notice of the hearing, substantially in the form of Exhibit A hereto, shall
be published at least once not less than 14 days prior to the date fixed for
the hearing in the official newspaper of the City.
July 24, 1995
Date
ATTEST: 1\
Deputy Clerk
Mayol
The motion for the adoption of the foregoing resolution was duly seconded by member
Debra Hilstrom and upon vote being taken thereon, the following
voted in favor thereof:
Myrna Kragness, Kristen Mann, Debra Hilstrom, and Kathleen Carmody;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
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Resolution No. 95 -160
NOTICE OF PUBLIC HEARING
ON REFINANCING FACILITIES FOR
EARLE BROWN COMMONS LIMITED PARTNERSHIP II
NOTICE IS HEREBY GIVEN that a public hearing shall be conducted by the City
Council of the City of Brooklyn Center, Minnesota, on the refinancing of a project
undertaken and financed pursuant to Minnesota Statutes, Chapter 462C, as amended, by the
City and Earle Brown Commons Limited Partnership II, a Minnesota limited partnership (the
"Company The hearing will be held at the Brooklyn Center City Hall, 6301 Shingle
Creek Parkway, Brooklyn Center, on Monday, August 28, 1995, at approximately 7 p.m. or
as soon thereafter as the matter may be heard. The project to be refinanced consists
generally of a 140 unit multifamily housing facility at 6100 Summit Drive North in Brooklyn
Center, which is owned by the Company and leased to various tenants. Up to approximately
$8,800,000 in principal amount of refunding revenue bonds of the City are proposed to be
issued to refinance the project. At said time and place the City Council shall give all parties
who appear or submit written comments an opportunity to express their views with respect to
the proposal to refinance the project.
Dated: July 24, 1995.
EXHIBIT A