HomeMy WebLinkAboutCCRes_92-52No. R-92-52
C7
CITY OF FALCON HEIGHTS
C O U N C I L R E S O L U T I O N
Date: 12 9 92
RESOLUTION CALLING FOR A PUBLIC HEARING ON
THE ISSUANCE OF GENERAL OBLIGATION TAX
INCREMENT REFUNDING BONDS
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BE IT RESOLVED by the city council of the City of Falcon Heights
as follows:
1. Proposed Refunding Bonds. The city has previously issued its
General Obligation Tax Increment Bonds of 1984, Series B (the "1984 Bonds"),
originally issued in the principal amount of $600,000 and presently
outstanding in the principal amount of $520,000, and its General Obligation
Tax Increment Bonds of 1985 (the "1985 Bonds"), originally issued in the
principal amount of $1,300,000 and presently outstanding in the principal
amount of $1,000,000. To realize debt service savings it has been proposed
that the city issue refunding bonds in one or more series the ( "Refunding
Bonds") to refund all or a portion of the 1984 Bonds and the 1985 Bonds.
2. Public Hearina. Prior to the issuance of the Refunding Bonds
the city council is required by Section 147(f) of the Internal Revenue Code
of 1986, as amended, to hold a public hearing on the issuance of the
Refunding Bonds. A public hearing is hereby scheduled to be held on the
issuance of the Refunding Bonds on or about 7 P.M. on January 13, 1993 at the
city hall. The city clerk is hereby authorized and directed to cause notice
of such public hearing to be published in the official newspaper of the city
not less than 14 days prior to the date of the hearing.
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Approved by ~%~~~~ rL~=~-c~
Mayor
BALDWIN 12j9/92
CIERNIA 5 In Favor Date
GEHRZ
JACOBS 0 Against ~`~~
GIBBON TALBOT -f
Attested by .,,~c' ~aaz~•,~
Ci Clerk
12j9/92
Date
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