09-09-1992 Council Agenda - Laserfiche WebLink

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2. As required by the Act, this Council conducted a public hearing on Wednesday, September 9, 1992 on the proposal to undertake and finance the Project, after publication in the official newspaper and a newspaper of general circulation in the City of a notice setting forth the time and place of hearing; stating the general nature of the Project and an estimate of the principal amount of bonds or other obligations to be issued to finance the Project; stating that a draft copy of the proposed Application to the Minnesota Department of Trade and Economic Development (the "Department "), together with all attachments and exhibits thereto, was to be available for public inspection at the office of the City Administrator, in the City Hall, at all times between the hours of 8:00 A.M. to 4:30 P.M. each day except Saturdays, Sundays and legal holidays to and including the day of hearing; and stating that all parties who appear at the public hearing shall have an opportunity to express their views with respect to the proposal. 3. It is hereby found, determined and declared that the Project furthers the purposes set forth in the Act in that the purpose of the Project is and the effect thereof will be to promote the public welfare by the enhancement of the provision of health care facilities and services in the community. 4. The Borrower has entered into preliminary discussions with Miller, Johnson & Kuehn Incorporated, as underwriter, and the underwriter has reported preliminarily that the Project and the sale of bonds therefor are feasible. -4- Page 11