HomeMy WebLinkAbout1981-045 CCRMember Tony Kuefler introduced the following resolution and
moved its adoption:
RESOLUTION NO. 81 -45
RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL
FOR AN INDUSTRIAL DEVELOPMENT REVENUE BOND OR TAX EXEMPT
MORTGAGE NOTE PROJECT PURSUANT TO THE MINNESOTA MUNICIPAL
INDUSTRIAL DEVELOPMENT ACT AND AUTHORIZING PUBLICATION
OF A NOTICE OF THE HEARING
WHEREAS, Chapter 474 of the Minnesota Statutes, known as the Minnesota
Municipal Industrial Development Act (the "Act gives municipalities the power
to issue revenue bonds or tax exempt mortgage notes 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; and
WHEREAS, the City Council of the City of Brooklyn Center, Minnesota
(the "City has received from Brookdale Office Park Partnership, a Minnesota
general partnership (the "Company a proposal that the City undertake and
finance a project consisting of properties used or useful in connection with
a revenue producing enterprise comprised of three commercial office buildings,
to be acquired and constructed by the Company or its assigns through the
issuance of the City's revenue bonds or tax exempt mortgage notes (which may
be in the form of a single debt instrument or in one or more series) (the
"Obligations pursuant to the Act; and
WHEREAS, before proceeding with consideration 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 of the Act.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center:
1. A public hearing on the proposal of the Company will be held at
the time and place set forth in the Notice of Public Hearing attached hereto.
2. The general nature of the proposal and an estimate of the
principal amount of the Obligations to be issued to finance the proposal are
described in the form of Notice of Public Hearing attached hereto.
February 23, 1981
Date y
ATTEST: fC'F� ���sy�� c
y I-Verk
The motion for the adoption of the foregoing resolution was duly seconded by
member Celia Scott and upon vote being taken thereon, the following
voted in favor thereof: Dean Nyquist, Tony Kuefler, Gene Lhotka, and Celia
Scott;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
RESOLUTION NO. 81 -45
NOTICE OF PUBLIC HEARING ON PROPOSED PROJECT
AND THE ISSUANCE OF INDUSTRIAL DEVELOPMENT
REVENUE BONDS OR TAX EXEMPT MORTGAGE NOTES
UNDER THE MINNESOTA MUNICIPAL INDUSTRIAL
DEVELOPMENT ACT, MINNESOTA STATUTES, CHAPTER
474, AS AMENDED
CITY OF BROOKLYN CENTER, MINNESOTA
NOTICE IS HEREBY GIVEN that the governing body of the City of
Brooklyn Center, Minnesota (the "City will meet on March 23, 1981, at
7:00 p.m. at City Hall, 6301 Shingle Creek Parkway, in Brooklyn Center,
Minnesota, for the purpose of conducting a public hearing on a proposal
that the City issue its revenue bonds or tax exempt mortgage notes (the
"Obligations under the Minnesota Municipal Industrial Development Act,
Minnesota Statutes, Chapter 474, as amended, to undertake and finance a
project on behalf of Brookdale Office Park Partnership, a Minnesota general
partnership, or its assigns (the "Company The proposed project will
consist of the acquisition of land in the City and the construction thereon
of three commercial office buildings. The estimated total amount of the
proposed issue is $8,000,000. The Obligations shall be limited obligations
of the City of Brooklyn Center and the Obligations and interest thereon
shall be payable solely from the revenue pledged to the payment thereof,
except that the Obligations may be secured by a mortgage and other
encumbrances on the project. No holder of any such Obligation shall ever
have the right to compel any exercise of the taxing power of the City to
pay the Obligations, 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 offices of the City Clerk, Brooklyn Center, Minnesota, weekdays,
during business hours.
All persons interested may appear and be heard at the time and
place set forth above.
Dated February 1981.
BY ORDER OF THE CITY COUNCIL
By /s/ Allen S. Lindman
City Clerk