HomeMy WebLinkAbout87-008RESOLUTION NO. RS 87 - 0 8
RESOLUTION ESTABLISHING THE DATE ..FOR A
PUBLIC HEARING ON A PROPOSAL TO UNDERTAKE
AND FINANCE A PROJECT UNDER MINNESOTA
STATUTES, CHAPTER 474 AND MINNESOTA
STATUTES, SECTION 471.59
WHEREAS, the Minnesota Municipal industrial Development Act, Minnesota
Statutes, Sections 474.01 et mi. (the "Act "), authorizes the issuance of revenue
bonds to finance projects; and
WHEREAS, pursuant to Minnesota Statutes, Section 471.59 (the "Joint
Powers Act') the issuance of revenue bonds will be undertaken jointly by the Cities
of Apple Valley Chaska r Little Canada
Waitse Park , _ and other Public enti to be identified at a l ater date
(the "Cities "); and Prior Lake
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 proposal has been presented to this City Council (the "City
Council) of the City of Prior Lake (the "City ") to jointly establish
a fund with the Cities from the proceeds of Securitized Development Revenue
Bonds in the aggregate principal amount of $300,000,000 to finance revenue -
producing projects for purposes consistent with the Act, said projects to consist of
the acquisition, construction, reconstruction, rehabilitation and/or installation- of
commercial, industrial or retail facilities In the Cities (the "Project "); and
WHEREAS, it has been requested that the City resolve to issue revenue
bonds pursuant to the Act and the Joint Powers 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 Department of Energy and Economic Development for approval of
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the Project, together with all attachments and exhibits, Is on file with the City` and
available for public inspection; and
WHEREAS, there has been presented to the City a form of public notice,
attached hereto as Exhibit 89 _with"a request that the City Council establish a date
for ,a public, hearing the
on proposal to undertake and finance. the Project and
authorize publication of the form of public notice provided;
NOW THEREFORE, BE IT RSOLVED 13Y THE CITY COUNCIL OF THE
CITY OF 1 kcR. LUM
a
THAT:
1 • The City will conduct f public hearing on the propo�a! to undertake
and finance fife Project on tho. day February,
of 1967.
9. The General llenager y Y
Of the City is hereby authorized to cause a
public notice, substantially in the. forat:o! 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.
The General MwwWr
of the City is hereby authorized and
directed to have available for bile nspection
.i n the offices Or, the City a draft
copy of the proposed Application.: to�cthOr with all attachments • and exhibits
thereto.
Passed aid adopted this 9th day of February, 1987.°
YRS ND
A ndrnen
t
Ar
Fitzgerald Y Fitzgerald
a
Larson Y Larson
0
f.
Scott Scott
to Wite ?
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City Monger
City cie Pricer Labe
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CERTIFICATION OF MINUTES
Munieipality: City of _ -Prior_ Lake , Minnesota
Governing body: City Council
Meetinv A meeting of the City Council of the City of Prior Lake
Minnesota held on the 9th .
day of PlahnA , I8 *7 at 8.00 P.M. at
T.
Members Mayor ArAren, Councilmembers Fitzgerald, Larson, Scott:
present: and White
Members
absent:
Documents: A copy of -a resolution adopted by the City Council of the City
i i
of Pr;rrr Takes at said meeting.
Certifications
i P irlLagI _MQivijm 1 r v, � of the City of Prior Lake
y
tsinn� era hereby certify the following
Attached heteto'is a true and correct copy of a resolution on file and of
record in, the Off left of the Clock, which resolution was adopted by the City
Council, at the' meeting referred to above. old meetinE was a regular meeting of
the City CoundI4 was ,oprn to the put4le, and was .held at the time and place at
which anee2inp of the City Council are regularly field. Member Fi ajld
moved the adoption of the attached resolution. The motion for adoption of
attached . taaohltton war seconded by Member White A vote being
taken on the motion, the following voted In favor of resolutionx
Fitzgerald, Larson, Scott and White.
and the following voted against the resolutiotu
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