05-23-1984 Council Agenda - Laserfiche WebLink

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CITY OF LITTLE CANADA NOTICE OF PUBLIC HEARING ON A PROPOSAL FOR INDUSTRIAL FACILITIES DEVELOPMENT PROJECTS Notice is hereby given that the City Council of the City of Little Canada, Minnesota will meet at the City Hall in the City of Little Canada, Minnesota at 8:00 o'clock p.m. on May 23, 1984, to consider the proposal of 0. Larry Lee of Yorkton Ltd., Inc., Development Division, who intends to be a general partner in one or more Minnesota partnerships to be formed, that the City assist in financing projects hereinafter described by the issuance of industrial development revenue bonds. Description of Projects The following ten office /warehouse /manu- facturing facilities to be located on land situate east of Yorkton Industrial Court and south of South Owasso Boulevard in Little Canada: Buildinq Area Maximum Bond Issue Building H - Building I - Building J - Building K - Building L - Building M - Building N - Building 0 Building P Building Q 40,000 Sq. Ft. 27,000 Sq. Ft. 27,000 Sq. Ft. 20,000 Sq. Ft. 27,000 Sq. Ft. 40,000 Sq. Ft. 27,000 Sq. Ft. - 20,000 Sq. Ft. - 27,000 Sq. Ft. - 27,000 Sq. Ft. $1,445,000 945,000 945,000 720,000 945,000 1,445,000 945,000 720,000 720,000 945,000 The maximum aggregate estimated principal amount of bonds or other obligations to be issued to finance these projects is $10,000,000. The bonds or other obligations if and when issued will not constitute a charge, lien or encumbrance upon any property of the City except the projects and such bonds 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 partnerships formed by Mr. Lee and others to be named pursuant to a revenue agreement. 25