RES 1981-123 - 00006362x•: 0 • r • �: :r. • �.�w• c
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WHEREAS, a representative of the 73rd Avenue Partnership (the "Company")
has presented the City Council (the "Council ") of the City of Fridley,
Minnesota (the "City "), with information concerning a proposed project
within the City; and
WHEREAS, a representative of the Company has requested that the City
resolve to issue commercial development bonds or notes or a commercial
revenue note and has presented to this Council a form of preliminary
resolution concerning such issuance with a request that such preliminary
resolution, attached hereto as Exhibit A, be considered for adoption at
the next regular meeting of this Council or at a special meeting of this
Council;
NOW, THEREFORE, BE IT RESOLVED:
1. That this Council will conduct a public hearing on the proposal to
undertake and finance the cormercial development project described in the
Notice of Public Hearing attached hereto as Exhibit B (the "Notice ").
2. That the City Clerk of the City is hereby authorized to cause the
Notice or a notice in substantially the same form as the Notice to be
published not more than thrity (30) nor less than fifteen (15) days before
the date fixed in the Notice as the date of the hearing in the official
newspaper and a newspaper of general circulation of the City.
3. That the City Clerk of the City is hereby authorized to make a draft
copy of the proposed application to the Commissioner of Securities of the
State of Minnesota, which would be submitted in connection with this
proposed Project, available for public inspection at the City Hall during
regular office hours following the publication of the Notice.
PASSED AND ADOPTED BY THE CITY OOUNCIL OF THE CITY OF FRIDLEY THIS 26TH
DAY OF OCTOBER, 1981.
ATTEST:
SIDNEY C. INMAN - CITY CLERK
WILL J. NEE - MAYOR
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EXHIBIT B
REVENUE BOND OR NOTE — (73RD AVENUE
BUILDING "O P M
A public hearing will be held by the City Council of the City of Fridley,
Minnesota, at the City Hall, 6431 Univeristy Avenue Northeast, Minnesota,
at 8:00 p.m., November 23, 1981, for the purpose of considering a proposal
that the City undertake and finance a commercial development project in
the City. A meeting of the City Council of the City of Fridley will
follow the hearing, at which a resolution giving preliminary approval to
the financing of the project will be considered.
The project, proposed to be operated by 73rd Avenue Partnership Building
constitutes the acquisition of land within the City, acquisition and
construction of a building thereon and acquisition and installation of
equipment therefore to be used as a commercial office building facility.
The estimated principle amount of the obligations proposed to be issued by
the City is $1,950,000.00. A draft copy of the proposed application to
the Commissioner of Securities of the State of Minnesota, together with
all attachments and exhibits thereto, will be available for public
inspection at the City Hall during regular office hours.
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