Res 2009- 35 Public Hearing for Note IssuanceEXTRACT OF MINUTES OF A MEETING OF THE
CITY COUNCIL OF THE CITY OF
MENDOTA HEIGHTS, MINNESOTA
Pursuant to due call and notice thereof, a regular or special meeting of the City Council of the
City of Mendota Heights, Minnesota, was duly held at the City Hall in said City on Tuesday, June 2,
2009, commencing at 7:00 P.M.
The following Councilmembers were present: Huber, Krebsbach, Duggan, Schneeman and
Vitelli
and the following were absent: None
Member Krebsbach introduced the following resolution and moved its adoption:
RESOLUTION NO. 09 -35
RESOLUTION CALLING FOR A PUBLIC HEARING ON
THE ISSUANCE OF A REVENUE REFUNDING NOTE AND
AUTHORIZING THE PUBLICATION OF A NOTICE OF HEARING
(SAINT THOMAS ICE ARENA PROJECT)
WHEREAS, Minnesota Statutes, Sections 469.152 through 469.165 1, relating to
municipal industrial development (the "Act "), gives municipalities the power to issue revenue
obligations for the purpose of promoting the welfare of the state by the active attraction and
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; and
WHEREAS, the City of Mendota Heights, Minnesota (the "City "), has received from
Saint Thomas Ice Arena, a Minnesota nonprofit corporation and 501(c)(3) organization (the
"Borrower "), a proposal that the City undertake a program to assist in refinancing a Project hereinafter
described, through the issuance of a revenue note or obligation (in one or more series) (the "Note ")
pursuant to the Act; and
WHEREAS, before proceeding with consideration of the request of the Borrower it is
necessary for the City to hold a public hearing on the proposal pursuant to the Act:
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 Borrower will be held at the time and
place set forth in the form of Notice of Public Hearing attached hereto as Exhibit A. The general
nature of the Project and an estimate of the aggregate principal amount of revenue bonds or other
obligations to be issued to finance the proposal are described in the Notice of Public Hearing.
2. The City Clerk is hereby authorized and directed to cause notice of the hearing
to be given one publication in the official newspaper of the City and a newspaper of general
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circulation available in the City of Mendota Heights, not less than 14 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.
The motion for the adoption of the foregoing resolution was duly seconded by member
Duggan , and after full discussion thereof and upon vote being taken thereon, the
following voted in favor thereof:
and the following voted against the same:
whereupon said resolution was declared duly passed and adopted.
Adopted by the City Council of the City of Mendota Heights this 2nd day of June, 2009.
ATTEST: CITY COUNCIL
CITY OF 7TA 7HE HT S
By _r%1�.� --� By
Kathl en M. Swanson, City Clerk John Huber, Mayor
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STATE OF MINNESOTA
COUNTY OF DAKOTA
CITY OF MENDOTA HEIGHTS
I, the undersigned, being the duly qualified and acting Clerk 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 Rill, 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 the City's revenue
note to refinance an ice arena project for Saint Thomas Ice Arena.
WITNESS my hand this day of June, 2009.
Cl rlc
23599680 3
EXHIBIT A
NOTICE OF PUBLIC HEARING ON A PROPOSAL
FOR ISSUANCE OF A REVENUE REFUNDING NOTE
(SAINT THOMAS ICE ARENA PROJECT)
Notice is hereby given that a public hearing shall be conducted by the City Council of the City
of Mendota Heights, Minnesota (the "City ") on Tuesday, July 7, 2009 at 7:00 P.M. at the City Hall
located at 1101 Victoria Curve, Mendota Heights, Minnesota, to consider the proposal of Saint
Thomas Ice Arena, a Minnesota nonprofit corporation (`Borrower "), that the City assist in refinancing
the City's Recreational Facilities Revenue Note, Series 2003 (Saint Thomas Ice Arena Project) and
two promissory notes of the Borrower, the proceeds of which were used to finance the acquisition and
construction of an approximately 50,500 square foot ice arena located at 950 Mendota Heights Road in
the City (collectively, the "Project ") and certain other costs related to the Project by the issuance of a
revenue note or other obligation in an amount not to exceed $3,000,000 pursuant to Minnesota
Statutes, Sections 469.152 to 469.1651, as amended. The Project is owned and operated by the
Borrower.
The note 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 note 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
by the Borrower pursuant to a revenue agreement.
At the time and place fixed for the public hearing, the City Council will give all persons who
appear at the hearing an opportunity to express their views with respect to the proposal. In addition,
interested persons may file written comments respecting the proposal with the City Clerk at or prior to
the public hearing.
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