City Council Resolution 1983-84RESOLUTION NO. 1983 #84
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 secy. (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 Fulfillment System, Inc., 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 Ieast 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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I~ 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 14th day of November , 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 Nov. 14, , 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.
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.
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Arve A. Grimsmo, Mayor
A
Thomas A. Eidem
City Administrator
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