Res 1985 - 53 Calling for a Public Hearing & Other Matters Relating to a Proposed PRoject Under MN Statutes, 474, As AmendedCERTIFICATION OF MINUTES RELATING TO
$6,400,000 COMMERCIAL DEVELOPMENT REVENUE BONDS OF 1985
(ALPHA ENVIRONMENTS PROJECT)
Issuer: City of Mendota Heights, Minnesota
Governing Body: City Council
Kind, date, time and place of meeting: A regular meeting, held on July 16,
1985, at 7:30 o'clock p.m., at the City Hall, 750 South Plaza Drive, Mendota
Heights Minnesota.
Attendance at the Meeting:
Present: Lockwood, Blesener, Cummins, Hartmann
Absent:
Witt
Documents Attached:
Minutes of said meeting (pages) :
RESOLUTION NO. 85-53
RESOLUTION CALLING FOR A PUBLIC HEARING
AND OTHER MATTERS RELATING TO A PROPOSED PROJECT
UNDER MINNESOTA STATUTES, CHAPTER 474, AS AMENDED
I, the undersigned, being the duly qualified and acting recording officer of
the public body issuing the obligations referred to in the title of this
certificate, certify that the documents attached hereto, as described above,
have been carefully compared with the original records of said body in my
legal custody, from which they have been transcribed; that said documents are
a correct and complete transcript of the minutes of a meeting of the governing
body of said body, and correct and complete copies of all resolutions and other
actions taken and of all documents approved by the governing body at said
meeting was duly held by the governing body at the time and place and was
attended throughout by the members indicated above, pursuant to call and
notice of such meeting given as required by law.
WITNESS my hand officially as such recording officer this 16
July , 1985.
'.47: G ,a64/4k a
Signature
day of
Deputy City_ ,Clerk
(SEAL)
Councilmember Hartmann offered the following resolution and moved
its adoption, which :motion was seconded by Councilmember �,,,,,,; „G
RESOLUTION NO. :85-53
RESOLUTION RELATING TO A PROJECT
UNDER THE MUNICIPAL INDUSTRIAL
DEVELOPMENT ACT: CALLING FOR A
PUBLIC HEARING THEREON.
BE IT RESOLVED by the City Council of the City of Mendota Heights,
Minnesota (the "City"), as follows:
SECTION 1.
Recitals
1.1. Larry Lee, on behalf of a Minnesota partnership to be formed in which
he will be one of the general partners (the "Borrower") , has advised this
Council of the desire of the Borrower to acquire land in the City and
construct and equip thereon an approximately 55,000 square foot building to be
used as an education and convention facility ("Project").
1.2. The City is authorized by Minnesota Statutes, Chapter 474 (the "Act") ,
to issue its revenue bonds to finance capital projects, such as the Project,
which constitutes property, real and/or personal, used or useful in connection
with a revenue producing enterprise as contemplated by Minnesota Statutes,
Section 474.02, Subd. 1(a) .
1.3. The City previously granted preliminary approval of the Project and the
issuance of revenue bonds therefor in an amount not exceeding $5,000,000.
The Borrower subsequently requested that the City issue its revenue bonds in
an amount not exceeding Six Million Four Hundred Thousand and 00/100 Dollars
($6,400,000) to finance all or a portion of the cost of the Project.
SECTION 2.
Public Hearing
2.1. Section 474.01, Subdivision 7B, of the Act requires that prior to
submission of an application to the Energy and Economic Development Authority
requesting approval of the Project as required by Section 474.01, Subdivision
7A, of the Act, this Council shall conduct a public hearing on the proposal to
undertake and finance the Project. Pursuant to that provision, a public
hearing on the proposal to undertake and finance the Project is called and
shall be held on August 20, 1985, at 7:30 o'clock P.M. at the City Hall, 750
South Plaza Drive, Mendota Heights, Minnesota.
2.2. The City Clerk shall cause notice of the public hearing to be published
in the official newspaper of the City and in a newspaper of general circulation
in the City, at least once not less than fifteen (15) nor more than thirty (30)
days prior to the date fixed for the hearing, such notice to be in substantially
the following form:
NOTICE OF PUBLIC HEARING ON A PROPOSED
PROJECT AND THE ISSUANCE OF INDUSTRIAL
DEVELOPMENT REVENUE BONDS UNDER THE MUNICIPAL
INDUSTRIAL DEVELOPMENT ACT, MINNESOTA
STATUTES, CHAPTER 474, AS AMENDED
CITY OF MENDOTA HEIGHTS, MINNESOTA
NOTICE IS HEREBY GIVEN that the City Cojuncil of the City of Mendota
Heights, Minnesota, will meet on August 20, 1985, at 7:30 o'clock P.M., at the
City Hall, 750 South Plaza Drive, Mendota Heights, Minnesota, for the purpose
of conducting a public hearing on a proposal that the City issue revenue
bonds, in one or more series, under the Municipal Industrial Development Act,
Minnesota Statutes, Chapter 474, as amended, in order to finance the cost of a
project. The proposed project will consist of the acquisition of land and the
construction and equipping thereon by a Minnesota partnership to be formed in
which Larry Lee will be one of the general partners, of an approximately
55,000 square foot building to be used as an educational and convention
facility. The Project will be located in the City of Mendota Heights,
Minnesota, on Highway 110 on the real property legally described as the
Southeast 1/4 of Section 27, Township 28N, Range 23, Dakota County,
Minnesota. The estimated total amount of the proposed bond issue is
$6,400,000. Such principal amount and interest thereon shall be payable by
the City solely from the revenue pledged to the payment thereof, except that
such bonds may be secured by a mortgage or other encumbrance on the
project. No holder of any such bond shall ever have the right to compel any
exercise of the taxing power of the City to pay the bonds or the interest
thereon, nor to enforce payment against any property of the City except the
project.
A draft copy of the proposed application to the Energy and Economic
Development Authority of the State of Minnesota for approval of the project,
together with all attachments and exhibits thereto, is available for public
inspection at the office of the City Clerk between the hours of 8:00 A.M. and
4:30 P.M.
All other persons interested may appear and be heard at the time and place
set forth above.
Dated: August (v , 1985.
BY ORDER OF THE CITY COUNCIL
By /i' /. 0/-3�Q 4//c -a
City cp.
City of Mendota Heights, Minnesota
2.3. A draft copy of the proposed application to the Energy and Economic
Development Authority of the State of Minnesota, together with all attachments
and exhibits thereto, shall be placed on file at the office of the City Clerk,
and shall be available for public inspection, following the publication of the
notice of public hearing, between the hours of 8:00 A.M. and 4:30 P.M.
Adopted by the Council this 16 day of July, 1985.
•
(SEAL)
oto -e4,-01011
Mayor
Deputy City eGierk
upon_` call of the roll, the vote on said motion was as follows:
In Favor
Lockwood
Blesener
Cummins
Hartmann
Opposed
Absent Not Voting
Witt