HomeMy WebLinkAboutRES 80-039 RESOLUTION RELATING TO A PROJECT UNDER THE MUNICIPAL INDUSTRIAL DEVELOPMENT ACT; CALLING FOR A PUBLIC HEARING THEREON Meeting Sheet
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102760
Box: 23
Folder: RES 1980
Document: RES 80-039 RESOLUTION RELATING TO A PROJECT UNDER
THE MUNICIPAL INDUSTRIAL DEVELOPMENT ACT; CALLING FOR A
PUBLIC HEARING THEREON
C}-:RTIFICATION OF t1.INUTES TO
COMMERCIAL DEVELOPMENT REVENUE BONDS
Issuer: City of St. Anthony, Minnesota -
Governing Body: City Council
Kind, date, time and place of meeting:. A regular meeting,
held on .June 24 , 1980, at . 7 : 30 ,_-=_ . 'P.M. , at the City
Hall.
Members present: Haik, Letourneau, Ranallo, Marks, Sundland.
Members absent : None
Documents Attached:
Minutes of said meeting (pages) : 3
RESOLUTION NO. 80-039
RESOLUTION RELATING TO A PROJECT UNDER THE
MUNICIPAL INDUSTRIAL DEVELOPMENT ACT; CALL-
ING FOR A PUBLIC HEARING THEREON
• I, the undersigned, being the duly qualifed and
acting recording officer of the public corporation issuing
the bonds referred to in the title of this certificate,
certify that the documents attached hereto, as described
above, have been. carefully compared with the original records
of said corporation in my legal custody, from which they have
been transcribed; that said documents are a correct and com-
plete transcript of the minutes of a meeting of the governing
body of said corporation, and correct and complete copies of
all resolutions and other actions taken and of all documents
approved by the governing body at said meeting, so far as
they relate to said bonds; and that said meeting was duly
held by the governing body at the time and place and was
attended throughout by the members indicated above, pursuant
to call and notice of such meeting given. as required by law.
WITNESS my hand officially as such recording officer
this ��V�day of June 1980.
Signature
Carol Lou Johnson, City Clerk
• Name and Title
• 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:
• NOTICE OF PUBLIC HEARING ON A PROPOSED PROJECT
AND THE ISSUANCE OF COMMERCIAL DEVELOPMENT REVENUE
BONDS OR NOTES UNDER THE MUNICIPAL INDUSTRIAL
DEVELOPMENT ACT, MINNESOTA STATUTES, CHAPTER 474,
AS AMENDED
CITY OF S.T. ANTHONY, MINNESOTA
NOTICE IS HEREBY GIVEN that the City Council of
the City of St. Anthony, Minnesota, will meet on July 22 ,
1980 , at 8 : 30 -.., P.M. , at the City Hall in St. Anthony,
Minnesota, for the purpose of conducting a public hearing on a
proposal that the City issue revenue bonds or notes , in one or
more series, under the Municipal Industrial Development Act,
Minnesota Statutes, Chapter 474, as amended, , in order to
finance the cost of a project. The proposed project will
consist of the improvement, renovation and refurbishing of
the approximately 646 ,000 square. foot shopping. center in
the City owned, by Apache Plaza, Ltd. , a Minnesota limited
partnership. The estimated total amount of the proposed issue
is -$1, 500, 000. The bonds or notes shall be limited obligations
of the City and the bonds or notes, and interest thereon, shall
be payable solely from the revenue pledged to the payment
thereof, except. that_.such _bonds or notes may be secured by a
mortgage- or other encumbrance- on- the--project: . . No--holder of.--.any---
such
f.any---such bond or note shall ever have the right to compel any
exercise of the taxing power of the City to pay the bonds
or notes or the interest thereon, nor to enforce payment
against- any property of the City except the project.
A draft copy of the proposed application to the
Minnesota Commissioner of Securities for approval of the Project,
together with all attachments and exhibits thereto, is available
for public inspection at the office of the City Clerk during
normal business hours.
All persons interested may, appear and be heard at
the time and place set forth above.
Dated: June 24 , 1980.
BY ORDER OF THE CITY COUNCIL
By Carol Lou Johnson
City Clerk
Mayor
Attest: 'z
City Cle
The motion for the adoption -of the foregoing resolution
was duly seconded by Councilmember Ranallo and upon
the vote being taken thereon-, . the following voted in favor thereof:
Haik, Letourneau, Ranallo, Marks, and Sundland.
and the following voted against the same: None
• whereupon said -resolution was declared duly passed-and adopted. -