City Council Resolution 1984-25RESOLUTION NO. 1984 - #25
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 seg. (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, Stuart 8c Arleen Hoglund (the "Developers") have presented this
City Council (the "City Council") of the City of Monticello (the "City") with
information concerning a proposed project (the "Project") to be acquired and
constructed within 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 Council a form of preliminary resolution concerning such issuance with a
request that such preliminary resolution, attached hereto as Exhibit A, be
considered for adoption by the City Council; 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, stating the general nature of the project
and an estimate of the principal amount of the 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 t-hat a draft copy of the proposed application (the "Application")
to the Minnesota Department of Energy and Economic Development for approval of
the Project, together with all attachments and exhibits, is on f~1e with the City and
available for public i~pection; 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
authorize publication of the form of public notice provided by the Developer;
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
TY OF MONTICELLO THAT:
1. The City will conduct a public hearing on the proposal to undertake
and finance the Project on the (({~` day of ~ ,~.u E , 1984.
2. It is the present intention of the City Council to adopt the
preliminary resolution in the form attached hereto as Exhibit A after completion of
the public hearing on ~ ~.N E ~ i+'-' , 1984.
3. The City Administrator of the City 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.
4. The City Administrator of the City 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.
Adopted this 29th day of May, 1984. y_
Attes .
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