HomeMy WebLinkAboutCC RES 92-031 RESOLUTION CALLING FOR A PUBLIC HEARING ON THE ISSUANCE OF BONDS TO REFUND THE HOUSING DEVELOPMENT REVENUE BONDS (ST. ANTHONY LANEL PROJECT), SERIES 1998 OF THE CITY Meeting Sheet
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103568
Box: 26
Folder: RES 1992
Document: CC RES 92-031 RESOLUTION CALLING FOR A PUBLIC
HEARING ON THE ISSUANCE OF BONDS TO REFUND THE HOUSING
DEVELOPMENT REVENUE BONDS (ST. ANTHONY LANEL PROJECT),
SERIES 1998 OF THE CIN
• CITY OF ST. ANTHONY
RESOLUTION 92-031
A RESOLUTION CALLING FOR A PUBLIC HEARING ON THE
ISSUANCE OF BONDS TO REFUND THE HOUSING DEVELOPMENT
REVENUE BONDS (ST. ANTHONY LANEL PROJECT),
SERIES 1988 OF THE CITY
BE IT RESOLVED by the City Council of the City of St. Anthony, Minnesota
(the "City), as follows:
1. Recitals. The City has previously issued its Housing Development
Revenue Bonds (St. Anthony LaNel Project), Series 1988 in the original principal amount
of$10,750,000(the "Series 1988 Bonds"), under and pursuant to Minnesota Statutes, Chapter
462C (the "Act"), and loaned the proceeds thereof to St. Anthony LaNel, a Minnesota
partnership (the 'Partnership"), to finance the Autumn Woods apartment complex located
at 2600 Kenzie Terrace in the City ("Autumn Woods"). The Partnership has requested that
the City issue refunding bonds under the Act (the "Refunding Bonds") to refund the Series
1988 Bonds. The Partnership has informed the City that in connection with the issuance of
the Refunding Bonds ownership of Autumn Woods will be transferred by the Partnership
to Autumn Woods Partners Limited Partnership, a Minnesota limited partnership.
2. Public Hearing. Section 147(f) of the Internal Revenue Code of 1986,
as amended, and regulations promulgated thereunder, requires that prior to the issuance of
the Refunding Bonds, this Council approve the issuance of the Refunding Bonds after
conducting a public hearing thereon. A public hearing on the proposal to issue the
Refunding Bonds is hereby called and shall be held on July 14, 1992, at 7:30 P.M. or as soon
thereafter as possible, in the City Council Chambers at City Hall, 3301 Silver Lake Road,
St. Anthony, MN. The City Clerk shall cause notice of the public hearing to be published
in the St. Anthony Bulletin, the official newspaper of the City, once not less than fourteen
(14) days prior to the date of the public hearing. The notice to be published shall be in
substantially the form attached hereto.
Adopted this day of1992.
Mayor
ATTEST: e LJ
City Clerk
• Reviewed for administration:
City Manager