HomeMy WebLinkAbout80-012A 5
a
RESOLUTION NO. 80-12
r
M? RESOLUTION RELATING TO A PROJECT
UNDER THE MUNICIPAL INDUSTRIAL
DEVELOPMENT. ACT; CALLING FORA
PUBLIC HEARING THEREON
BE IT RESOLVED by the City Council of the City of Prior
Lake, Minnesota .(the City) as follows:
Section 1. Recitals
:r
1.011. This Council,'by resolution duly adopted on Tune 18,
1979, called a public hearing on a proposed project under the
Minnesota.$tatutes, Chapter 474 (the Act), consisting, of the acqui --
stion of certain land within the City•and the construction and:
equipping thereon of a medical clinic and office facility (the Pro -
ject) by Abrams, Keenan, i ynch &, 'Spagnolo, a Minnesota general part
° „ nership (the .Borrower ),,,t ;;�:be leased to Shakopee Medical Center, P.A.
r
acrid.. others : } J
1.02. At the publ'ic,hearing, duly called, noticed and held
oi., July 9, 1979 r�4accordance with the Act, all persons were afforded
an opportunity tosbe heard.
.1.03. Following said public hearing, this Council', by
` \Resolution No. 79 -28 duly�'adopted by a majorl its members on
y �Tuly 23, 1979,'gave preliminary agproval'to the Project. Pursuant
to said Res Na.' 79 -28,, the Mayor and City Manager executed a
Memorandum of ,Agreement dated, July ,23, 1979' (the Memorandum of Agree
me it) between `the City and then Borrower and also executed an Appli -,
cation for Approval of Municipal „Industrial %R'venue Bond Project
dated 23, 1979 and caused said Application to be submitted to
the kinnesota Commissioner "of Securities'. By letter dated August 17,
1979`, \the Minnesota Commis'sioner'of Securities granted _preliminary
approvi 1 f th Project.
1.04. ,The Memorandum ofAgreement provides, among. other
things, that all commitments of the City ,and , the Borrower thereunder
are-- stbj`ect to the condition that within twelve months from the date
thereof (air such other date as shall be mutually satisfactory to the
City and.,the Borrower) the City and the,Borrower shall have agreed to
mutually "ac 'e�eptable terms and conditions of the Revenue Agreement,
„ the Bonds anal other instruments and proceeiings relating to -the Bonds.
1
r � i
a
- o r,
1 "05. By Re adopted June 9, 1979, this..
n
criteria as • guidelines.(the Guidelines)'n
4 Council adopted certain
`. applications for revenue bond financing under the Act,
;
considering
one such criterion being that tbe. minimum sire of any such financing
shall be $5,00;0000
1``bfi rho Borrower has advised this � puncil that it i$
' necessary► to : redl ce the size and scope of the pi ;I: ct in certain
ne aahich will have the ; effect of reducing astir tad ;
amount o f revenue bond necessary to acqu e aid
'000, 000: to Accordingly, the. Bor `
equip the Project from .
*rower.has,,requeeted this Council to agg ov posed a the pro reduction
in the - size and scope of.,.the P.ro�ect and the proposed reduction in y k
financing arid; in coiljunctzizx►
the, amount of revenue bond„ ,therefor
therewith the ° 'criterion . o the Guidelines which specifies
4 to w ''
000 as the •,minimuM' _ ize. ci€ sry( revenue fond ""financing The
$ ,
0.0 Memo
,
Borrower has furthor requested' that theKrla'terepecfied
the City and the Borrower are to, reach
,; randum o r Agreet¢ient'by which
y; �%greement,,on, mutually acceptable,terms and cQn�li;tio3ls of the Reytenue
an ng s be eXtnded
.
Ag the Bonds , an d �`. otter ��,��trument's praceedi
includin,< Dec�em►er 31 19,80 .� �
from .July 22 19 -00, to and
0 7 =.: BQ�1d coup sal has. ecomt� ended `that a public; hearing
-1l
,b y, the Borrower
be ie7:d on, "the changes requested r„
section Public Hearing
This Coui�c�Z . sha 1 conduct °a public hegrsnr� on„ `the :
'the,
changes proposed by the Borrower with respect to a xe end ecope
bond,%nancincr 't2ierefor•
Of ,,the Project and the amount of rep *enue v l
Bai p ublic hearing"sh`all,� be held on .lur 2 �, 1 0, t 8,�5
SE 'pra ox e,
+°
flti 'ck P.M. a , city Hall 46'=29, Dakota Street , ; La
�
nespta _ .
„t � T�Ye- City ana,ger shall cau nQta.. a of sa�:d uu ils c ;
°
a
.0,2�. v era can, ng , the o
" Ie$ri.ng tq, be publa:shed , in the 'rior Lake ► e f f
the Ma A,gesota "Va lley �u4r�, being
` °c�.alA , .zicwsgaper .of the City and in.
cdre)Ulat,ion of the t'ity a A+;-;,least arise y niat
°a ne ,spa er of gezler,al
hid fifteen ',f] �?nore' than thirty" `(3� � a a, , pt V the
'be in, subs tan tXally the
1ate i�c� for the 'hearing such notice° tQ
v�
�� fol lf?wixsg form:
^Q
AAA � i s • x � }"1 i . y, L ' ,!
.�1v;�
S
• . ,
c
hh
I•
r L h
vp
HIIgY
�n 1 ? - ' 1iP�A�'4W 1"�1�'44e�,a ufea7wwJliiWg1� �d !a
a u n a k�✓.*+.r..f.++ynreawroxc
�y