City Council Resolution 1983-92RESOLUTION NO. 1983 - #92
RESOLUTION ESTABLISHING THE DATE FOR A
PUBLLC HEARING ON A PROPOSAL TO UNDERTAKE
AND FINANCE A PROJECT UNDER MINNESOTA
STATUTES, CHAPTER 474
WHEREAS, the Minnesota Municipal Industrial Development Act, Minnesota
Statutes, Section 474.01 et sec. (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, a representative of Key Properties, a Minnesota corporation
(the "Developer") has 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 and 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 that a draft copy of the proposed application (the
"Application") to the Minnesota Energy and Economic Development Authority
for approval of the Project, together with all attachments and exhibits, is
on file with the City and available for public inspection; 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 CITY OF
MONTICELLO THAT:
1. The City will conduct a public hearing on the proposal to undertake
and finance the Project on the 27th day of December, 1983.
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 December 27, 1983.
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, and all actions previously
taken by the City Administrator in this regard are hereby ratified and
approved.
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 ~ ~ day of ,~C.E~'l~E~ , 1983.
'""~
Arve A. Grimsmo, Mayor
Thomas A. Eidem
City Administrator