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HomeMy WebLinkAbout1979-268 CCRMember Bill Fignar introduced the following resolution and moved its adoption: RESOLUTION NO. 79 -268 RESOLUTION 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 municipalities the power to issue revenue bonds for the purpose of the encouragement and develop- ment 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 Brooklyn Center (the "City has received from S S Real Estate Company, a general partnership consisting of Duane M. Swenson and Dale M. Swenson, 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 "Note pursuant to the Act; (c) 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, Minnesota Statutes. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Brooklyn Center, 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 the Note 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 Securities, 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 Manager. 5. The City Manager is hereby authorized and directed to cause said hearing to be given one publication in the official newspaper and in another 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. RESOLUTION NO. 79 -268 November 19, 1979 Date ATTEST: Clerk tna� 1 The motion for the adoption of the foregoing resolution was duly seconded by member Gene Lhotka and upon vote being taken thereon, the following voted in favor thereof: Dean Nyquist, Tony Kuefler, Bill Fignar, Gene Lhotka, and Celia Scott; and the following voted against the same: none, whereupon said resolution was declared duly passed and adopted.