2008.08.18 RESO 2008-0039 - Laserfiche WebLink

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RESOLUTION 2008-39 Extract of Minutes of a Meeting of the City Council of the City of Hugo, Minnesota Pursuant to due call and notice thereof, a regular meeting of the City Council of the City of Hugo, Minnesota, was duly called and held at the City Hall in said City on Monday, the 18`x' day of August, 2008, at 7:00 P.M. The following members were present: Granger, Haas, Petryk, Puleo, Miron and the following were absent: None Member Haas introduced the following resolution and moved its adoption: RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL FOR A HOUSING FINANCE PROGRAM AND THE ISSUANCE OF REVENUE NOTES TO FINANCE A SENIOR HOUSING FACILITY PURSUANT TO MINNESOTA LAW, AND AUTHORIZING THE PUBLICATION OF A NOTICE OF THE HEARING (WALKER FOREST BAY LODGE PROJECT) WHEREAS, (a) Minnesota Statutes, Chapter 462C (the "Act"), confers upon cities, the power to issue revenue notes to finance multifamily housing developments within the boundaries of the city; and (b) The City Council of the City of Hugo, Minnesota (the "City"), has received from Walker Forest Bay Lodge, LLC, (the `Borrower") the sole member of which is Walker Methodist, a Minnesota nonprofit corporation, a proposal that the City undertake a program to Assist in financing a Project hereinafter described, through the issuance of revenue notes or other obligations (in one or more series) (the "Notes") pursuant to the Act; and (c) Before proceeding with consideration of the request of the Borrower it is necessary for the City to hold a public hearing on the housing finance program and proposal pursuant to the Act: NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hugo, Minnesota, as follows: 1. A public hearing on the housing finance program and proposal of the Borrower will be held at the time and place set forth in the Notice of Public Hearing hereto attached. 22o1825vt