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10/24/2005 Council Packet
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10/24/2005 Council Packet
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City Council
Council Document Type
Council Packet
Meeting Date
10/24/2005
Council Meeting Type
Regular
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• <br />• <br />EXHIBIT A <br />CITY OF LINO LAKES, MINNESOTA <br />NOTICE OF A PUBLIC HEARING WITH RESPECT TO THE <br />ISSUANCE OF REVENUE NOTES PURSUANT TO MINNESOTA <br />STATUTES, SECTIONS 469.152 TO 469.165, FOR THE BENEFIT OF <br />YMCA OF GREATER SAINT PAUL <br />NOTICE IS HEREBY GIVEN that the City Council of the City of Lino Lakes, Minnesota (the <br />"City ") will conduct a public hearing on Monday, November 28, 2005, at 6:30 p.m. at 600 Town Center <br />Parkway in the City of Lino Lakes, Minnesota, to consider a proposal by YMCA of Greater Saint Paul, a <br />Minnesota nonprofit corporation (the "Borrower "), for the issuance of revenue Notes (the "Notes ") under <br />Minnesota Statutes, Sections 469.152 to 469.165, as amended, to finance a proposed project consisting of <br />the construction and equipping of an approximately 37,000 square -foot recreation facility located at Lot <br />1, Block 1, The Village No. 3 addition in the City of Lino Lakes, Anoka County, Minnesota. The <br />facilities proposed to be financed will be owned by the Borrower. At the public hearing, the City <br />Council will consider adoption of a resolution giving approval to the issuance of the Notes for the <br />Proj ect. <br />At the public hearing, the City Council will consider adoption of a resolution approving the <br />Project and giving preliminary approval to the issuance of revenue notes to finance the costs of the <br />Project. The aggregate face amount of revenue notes proposed to be issued to finance the Project is <br />presently estimated not to exceed $3,000,000. The revenue notes will be issued by the City and will <br />constitute a limited obligation of the City payable solely from the revenues expressly pledged to the <br />payment thereof, and will not constitute a general or moral obligation of the City and will not be secured <br />by the taxing power of the City or any assets or property of the City except interests in the Project that <br />may be granted to the City in conjunction with this financing. <br />A draft copy of the application to the Minnesota Depai truent of Employment and Economic <br />Development for approval of the Project is on file with the City and is available for public inspection in <br />the office of the City Administrator during regular business hours. Anyone desiring to be heard during <br />the public hearing will be afforded an opportunity to do so. <br />Dated: [date of publication] <br />LN 140 -091 (JAE) <br />267126v.1 <br />BY ORDER OF THE CITY COUNCIL <br />By /s/ Gordon Heitke <br />City Administrator <br />City of Lino Lakes, Minnesota <br />
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