RES 80-039 RESOLUTION RELATING TO A PROJECT UNDER THE MUNICIPAL INDUSTRIAL DEVELOPMENT ACT; CALLING FOR A PUBLIC HEARING THEREON

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• Councilmember Marks introduced the .following resolution and moved its adoption: RESOLUTION NO. 80-039 RESOLUTION RELATING TO A PROJECT UNDER THE MUNICIPAL INDUSTRIAL DEVELOPMENT ACT; CALLING FOR A PUBLIC HEARING THEREON BE IT RESOLVED by the City Council of the City of St. Anthony.., Minnesota (the City) , as follows: Section 1. Recitals. 1. 01. Apache Plaza, Ltd. , a Minnesota limited partner- ship (hereinafter the Partnership) has advised this Council of its desire to improve, renovate and refurbish its existing shopping center in the City. 1. 02. The City is authorized by Minnesota Statutes, Chapter 474 (the Act) , to issue its revenue bonds or notes to finance capital projects consisting of properties used and useful in connection with .a revenue-producing enterprise. The Partnership -has: :requested -that the City -issue- its revenue bonds • or notes in an amount not exceeding $1,500,000 to finance a por- tion of the cost of the Project. Section 2. Public Hearing. 2. 01. Section 474. 01, Subdivision 7b, of the Act requires that prior to submission of an application to the Minnesota. Commissioner of Securities requesting approval of the Project as required by Section 474. 01, subdivision 7a, .of the Act, this Council shall conduct a public hearing on the proposal to undertake and finance the Project. Pursuant to that provision, a public hearing on the proposal to undertake and finance the Project is called and shall be held on July 22 , 19.80 , at 8: 30 - P.M. , at the City Hall. 2. 02. The City Clerk shall cause notice of the public hearing to be published in the official newspaper of the City, and in the Minneapolis Tribune or Star, at least once not less than fifteen (15) nor more than thirty (30) days prior to the date fixed-for the hearing, such notice to be in substantially the following form: