2015.10.05 RESO 2015-48 - Laserfiche WebLink

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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 or special meeting of the City Council of the City of Hugo, Minnesota, was duly held in the City Hall in said City on Monday, October 5, 2015, commencing at 7:00 P.M. The following Council members were present: Haas, Klein, Petryk, Miron, Weidt and the following were absent: None Member Haas introduced the following resolution and moved its adoption: RESOLUTION NO. 2015-48 RESOLUTION CALLING FOR A PUBLIC HEARING ON THE ISSUANCE OF EDUCATIONAL FACILITIES REVENUE BONDS AND AUTHORIZING THE PUBLICATION OF A NOTICE OF THE HEARING (MINNESOTA AUTISM CENTER PROJECT) WHEREAS, Minnesota Statutes, Sections 469.152 through 469.1655, as amended, relating to municipal industrial development (the "Act"), gives municipalities the power to issue revenue obligations for the purpose of promoting the welfare of the state by the active attraction, encouragement and development of economically sound industry and commerce to prevent so far as possible the emergence of blighted and marginal lands and areas of chronic unemployment; and WHEREAS, the City of Hugo, Minnesota (the "City"), has received from Autism Opportunities Foundation, a Minnesota nonprofit corporation, doing business as the Minnesota Autism Center (the "Borrower"), a proposal that the City assist in financing a project hereinafter described in the form of Notice of Public Hearing attached hereto as Exhibit A, through the issuance of a revenue bonds or other obligations (the "Bonds"), in one or more series, pursuant to the Act; and WHEREAS, before proceeding with consideration of the request of the Borrower it is necessary for the City to hold a public hearing on the proposal pursuant to Section 147(I) of the Internal Revenue Code and Section 469.154, Subdivision 4, of the Act: NOW, THEREFORE, BE IT RESOLVED by the City Council of Hugo, Minnesota, as follows: 1. A public hearing on the proposal of the Borrower will be held at the time and place set forth in the form of Notice of Public Hearing attached hereto as Exhibit A. The 7261452v2