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RESOLUTION CALLING FOR A PUBLIC HEARING <br />ON A PROPOSAL FOR A COMMERCIAL <br />FACILITIES DEVELOPMENT PROJECT <br />PURSUANT TO THE MINNESOTA MUNICIPAL <br />INDUSTRIAL DEVELOPMENT ACT AUTHORIZING <br />THE PUBLICATION OF A NOTICE OF THE HEARING <br />WHEREAS, <br />(a) Chaprce to prevent so far as <br />possible the emergence of blighted and <br />marginal lands and areas of chronic <br />unemployment; <br />(b) The City Council of the City of <br />Little Canada (the "City ") has received from <br />Sherman Rutzick, who intends to form a <br />partnership (the "Company ") a proposal that <br />the City assist in financing a project <br />hereinafter described, through the issuance <br />of its industrial revenue bonds (which may be <br />in the form of a single debt instrument) (the <br />"Bonds ") pursuant to the Act; <br />(c) Before proceeding with consider- <br />ation of the request of the Company it is <br />necessary for the City to hold a public <br />hearing on the proposal pursuant to Section <br />474.01, Subdivision 7b, Minnesota Statutes; <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of <br />the City of Little Canada, Minnesota, as follows: <br />1. A public hearing on the proposal of the Company <br />will be held at the time and place set forth in the Notice of <br />Hearing hereto attached. <br />2S <br />