Res 1985 - 80 Relating to a Project Under the Municipal Industrial Developemtn Act; Calling for a Public Hearing ThereonCouncilmember Hartmann offered the following resolution and moved
its adoption, which motion was seconded by Councilmember Witt.
RESOLUTION NO. 85-80
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 Health Resources, Inc., individually or on behalf of a part-
nership to be formed in which it will be a general partner (the
"Borrower") , have advised this Council of the desire of the Borrower
to acquire land located at 750 Highway 110, Mendota Heights,
Minnesota (being a portion of Lot 2, Block 1, Mendota Plaza, Dakota
County, Minnesota), and to construct and equip thereon an
approximately 5,000 square foot family practice physician's
clinic ("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 472.02, Subd. 1(a).
The Borrower has requested that the City issue its revenue bonds in
an amount not exceeding Seven Hundred Fifty Thousand and 00/100
Dollars ($750,000.00) 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 Department of Energy and
Economic Development 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 November 5, 1985, at 7:45 o'clock p.m., at the City Hall,
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
NOTICE IS HEREBY GIVEN that the City Council of the City of Mendota
Heights, Minnesota, will meet on November 5, 1985, at 7:45 o'clock
p.m., at the City Hall, 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 located at 750 Highway 110,
Mendota Heights, Minnesota (being a part of Lot 2, Block 1, Mendota
Plaza, Dakota County, Minnesota), and the construction and
equipping thereon by a general partnership to be formed, one of the
general partners of which will be Health Resources, Inc., of an
approximately 5,000 square foot family practice physician's
clinic. The project will be located in the City of Mendota Heights,
State of Minnesota. The estimated total amount of the proposed
bond issue is $750,000.00. 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 Department of Energy
and Economic Development 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 person interested may appear and be heard at the time and place
set forth above.
Dated: October 2, 1985.
BY ORDER OF THE CITY COUNCIL
By
By
712
ity Clerk
2.3 A draft copy of the proposed application to the Department of
Energy and Economic Development 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
(SEAL)
day of October, 1985.
Alul-t-- of4idu-a-a--,e_
Mayor
(tn(44.4.-et_.)
Clerk Clerk
Upon call of the roll, the vote on said motion was as follows:
In Favor Opposed Absent Not Voting