Res 1983 - 11 Calling for a Public Hearing on a Proposal for a Commercial Facilities Development Project Pursuant to the MN Municipal Industrial Development Act & Authorizing the Publication of a Notice of Said Hearingsz-71
[Resolution Calling For A Public Hearing With.Notieee Attached]
RESOLUTION CALLING FOR A PUBLIC HEARING:
ON A PROPOSAL FOR A COMMERCIAL:
FACILITIES DEVELOPMENT PROJECT
PURSUANT TO THE MINNESOTA MUNICIPAL
INDUSTRIAL DEVELOPMENT ACT AND AUTHORIZING:
THE PUBLICATION OF A NOTICE OF SAID HEART=W'+G
WHEREAS,
(a) Chapter 474, Minnesota Statutes, known
as the Minnesota Municipal Industrial Dsvr1op-
ment Act (the "Act") gives municipalitiem-the
power to issue revenue bonds for the purpose of
the encouragement and development of economi-
cally sound industry and commerce to precre_at so
far as possible the emergence of blightedl<zand
marginal lands and areas of chronic
unemployment;
(b) The City Council of the City oft.-'
Mendota Heights (the "City") has receivedi:from
M H Associates, a partnership organized 0•er
the laws of the State of Minnesota (the.
"Company") a proposal that the City assist:: in
financing a project hereinafter describe&,,
through the issuance of its Commercial
Development Revenue Bonds (which may be.. Erna the
form of a Bond or Bonds or a Note or Notes%) (the
"Bonds") pursuant to the Act;
(c) Before proceeding with consideration
of the request of the Company it is necessary
for the City to hold a public hearing on:,tfne
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 said proposal of: Company
will be held at the time and place set forth in thetice 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 form of Notice of
Hearing hereto attached.
3. The Notice of Hearing shall be in substantially
the form hereto attached.
4. The City Clerk is hereby authorized and directed
to cause Notice of 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 said hearing, as shown in the
Notice of Hearing hereto attached.
Adopted by the City Council of the'City of Mendota
Heights, Minnesota, this day of , 19 .
Mayor
ATTEST:
City
NOTICE OF PUBLIC HEARING
ON A PROPOSAL FOR A COMMERCIAL
FACILITIES DEVELOPMENT PROJECT
To whom it may concern:
Notice is hereby given that the City Council of the
City of Mendota Heights, Minnesota will meet at the City
Council Chambers in the Dakota County State Bank Building, 750
South Plaza Drive, in the City of Mendota Heights, Minnesota at
7:45 o'clock p.m. on March 1, to consider the proposal of M H
Associates, that the City assist in financing a project
hereinafter described by the issuance of commercial development
revenue bonds.
Description of Project
(Including general location)
Project consists of the construction of three (3) office/warehouse
buildings with an aggregate square footage of approximately
100,000 square feet on approximately 8 1/4 acres of real estate
located at the Northeast corner of the intersection of Pilot
Knob Road and Northland Drive in the City.
The estimated principal amount of bonds or other
obligations which will be issued in one or more series to
finance this project is $5,000,000.
Said bonds or other obligations if and when issued
will not constitute a charge, lien or encumbrance upon any
property of the City and such bonds or obligations will not be
a charge against the City's general credit or taxing powers but
are payable from sums to be paid by M H Associates pursuant to
a revenue agreement.
A draft copy of the proposed application to the
Commissioner of Energy, Planning and Development, State of
Minnesota, for approval of the project, together with all
attachments and exhibits thereto, is available for public
inspection from 8:00 o'clock a.m. to 4:30 o'clock p.m., Monday
through Friday, at the office of the City Clerk in the Dakota
County State Bank Building, 750 South Plaza Drive.
At the time and place fixed for said Public Hearing,
the City Council of the City of Mendota Heights will give all
persons who appear at the hearing an opportunity to express
their views with respect to the proposal.
(BY ORDER OF THE CITY COUNCIL)
By Kathleen M. Swanson
City Clerk
STATE OF MINNESOTA
COUNTY OF DAKOTA
CITY OF MENDOTA HEIGHTS
I, the undersigned, being the duly qualified and
acting efry ec_ R K of the City of Mendota Heights,
Minnesota, DO HEREBY CERTIFY that I have compared the attached
and foregoing extract of minutes with the original thereof on
file in my office, and that the same is a full, true and
complete transcript of the minutes of a meeting of the City
Council of said City duly called and held on the date therein
indicated, insofar as such minutes relate to calling for a
public hearing on a proposal for a commercial facilities
development revenue project.
WITNESS my hand and the seal of said City this A7-
day
5Tday oficua irL , 1983.
(SEAL)
727.
City Clerk