Res 1986 - 47 Calling for a Public Hearing on a Proposal for a Medical Office Facilities Development Project Pursuant to the MN Municipal Industrial Development Act Authorizing the Publication of a Notice of the Hearingv.0
592E
RESOLUTION CALLING FOR A PUBLIC HEARING
ON A PROPOSAL FOR A MEDICAL OFFICE
FACILITIES DEVELOPMENT PROJECT
PURSUANT TO THE MINNESOTA MUNICIPAL
INDUSTRIAL DEVELOPMENT ACT AUTHORIZING
THE PUBLICATION OF A NOTICE OF THE HEARING
WHEREAS,
(a) Chapter 474, Minnesota Statutes,
known as the Minnesota Municipal Industrial
Development Act (the "Act") gives muni-
cipalities the power to issue revenue bonds
for the purpose of the encouragement and
development of economically sound industry
and commerce to prevent so far as possible
the emergence of blighted and marginal lands
and areas of chronic unemployment;
(b) The City Council of the City of
Mendota Heights (the "City") has received
from Baptist Hospital Fund, Inc., a
non-profit corporation organized under the
laws of the State of Minnesota (the
"Company") a proposal that the City assist in
financing a project hereinafter described,
through the issuance of its industrial
revenue bonds (which may be in the form of a
single debt instrument) (the "Bonds")
pursuant to the Act;
(c) Before proceeding with consider-
ation of the request of the Company it is
necessary for the City to hold a public
hearing on the proposal pursuant to Section
474.01, Subdivision 7b, Minnesota Statutes;
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Mendota Heights, Minnesota, as follows:
1. A public hearing on the proposal of the Company
will be held at the time and place set forth in the Notice of
Hearing hereto attached.
2. The general nature of the proposal and an
estimate of the principal amount of bonds to be issued to
finance the proposal are described in the attached form of
Notice of Hearing.
3. A draft copy of the proposed application to the
Energy and Economic Development Authority, State of Minnesota,
for approval of the project, together with proposed forms of
all attachments and exhibits thereto, is on file in the office
of the City Clerk.
4. The City Clerk is hereby authorized and directed
to cause notice of the hearing to be given one publication in
the official newspaper and a newspaper of general circulation
available in the City, not less than 15 days nor more than 30
days prior to the date fixed for the hearing, substantially in
the form of the attached Notice of Public Hearing.
Adopted by the City Council of the City of Mendota
Heights, Minnesota, this 16th day of June, 1986.
ATTEST:
City Clerk
Mayor
,0;01eke")
NOTICE OF PUBLIC HEARING
ON A PROPOSAL FOR A MEDICAL OFFICE
FACILITIES DEVELOPMENT PROJECT
Notice is hereby given that the City Council of the
City of Mendota Heights, Minnesota will meet at City Hall, 75U
South Plaza Drive in the City of Mendota Heights, Minnesota at
7:30 o'clock p.m. on July 15, 1986, to consider the proposal of
Baptist Hospital Fund, Inc., a Minnesota non-profit corporation
that the City assist in financing a project hereinafter
described by the issuance of industrial development revenue
bonds.
Description of Project
Acquisition of land and construction and equipping of an
8,000 square foot single story medical office building to
be located at the intersection of Lexington Avenue and
Highway 110, in the Centre Pointe Development, Mendota
Heights.
The maximum aggregate estimated principal amount of
bonds or other obligations to be issued to finance this project
is $1,000,000. The project will be initially owned and
operated by Baptist Hospital Fund, Inc.
The bonds or other obligations if and when issued
will not constitute a charge, lien or encumbrance upon any
property of the City except the project and such bonds or
obligations will not be a charge against the City's general
credit or taxing powers but will be payable from sums to be
paid pursuant to a revenue agreement.
A draft copy of the proposed application to the
Energy and Economic Development Authority, State of Minnesota,
for approval of the project, together with all attachments and
exhibits thereto, is available for public inspection beginning
June 20, 1986, from 8:00 a.m. to 4:30 p.m., Monday through
Friday, at the City Hall in Mendota Heights, Minnesota.
At the time and place fixed for the Public Hearing,
the City Council of the City of Mendota Heights will give all
persons who appear at the hearing or submit written comments an
opportunity to express their views with respect to the
proposal.
Dated this 16th day of June, 1986.
(BY ORDER OF THE CITY COUNCIL)
By /s/ Kathleen Swanson
City Clerk