RES 1981-130 - 00006373RSSOIrw.. NO. IN — 19K
RESO MON CALLING FOR A PUBLIC HEARING ON A PROPOSAL
FOR A COMMERCIAL FACILITIES DEVELOPMENT PROJECT
PURSUANT TO THE MINNESOTA MUNICIPAL INDUSTRIAL
DEVELOPMENT ACT AUTHORIZING THE PUBLICATION OF A
NOTICE OF SAID HEARING (COLUMBIA PARR P
WHEREAS, Chapter 474, Minnesota Statues, known as the Minnesota Municipal
Industrial Development Act (the "Act") gives municipalities the power to
issue revenue bonds for the purpose of the 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 Council of the City of Fridley (the "City") has received
from Columbia Park Properties, a general partnership organized under the
laws of the State of Minnesota (the "Company ") a proposal that the City
assist in financing a project hereinafter described, through the issuance
of its industrial revenue bonds (which may be in the form of a single debt
instrument) (the "Bonds ") pursuant to the Act; and
WHEREAS, before proceeding with consideration of the request of the
Company it is necessary for the City to hold a public hearing on the
proposal pursuant to Section 474.01, Subdivision 7b, Minnesota Statutes;
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Fridley,
Minnesota, as follows:
1. A Public Hearing on said proposal of the Company will be held at the
I time and place set forth in the Notice of Hearing hereto attached.
2. The general nature of the proposal and an estimate of the principal
amount of bonds to be issued to finance the proposal are described in the
form of Notice of Hearing hereto attached.
3. The Notice of said Public Hearing shall be in substantially the form
contained in the Notice hereto attached.
4. A draft copy of the proposed application to the Commissioner of
Securities, State of Minnesota, for approval of the project, together with
proposed forms of all attachments and exhibits thereto, is on file in the
office of the City Clerk-Treasurer.
5. The City Clerk -Treasurer is hereby authorized and directed to cause
notice of said hearing to be given one publication in the official
newspaper and a newspaper of general circulation available in the City,
not less than 15 days nor more than 30 days prior to the date fixed for
said hearing, as shown in the notice of hearing hereto attached.
PASSED AND ADOPTED BY THE CITY COUTNCIL OF THE CITY OF FRIDLEY THIS 23RD
DAY OF NOVEMBER, 1981.
' WILLIAM J. - MAYOR '
ATTEST:
SIDNEY C. INMAN - CITY CLERK
4'. 11 .1 Y _.
NOTICE OF PUBLIC HEARING OF A PROPOSAL FOR A
DIAL FACILITIES DEVEILEMENT PROJECT - COLUMBIA
PARR PROPS T'IESS
TO WHOM IT MAY CONCERN: '
Notice is hereby given that the City Council of the City of Fridley,
Minnesota will meet at the Civic Center in the City of Fridley, Minnesota
at 7:30 o'clock p.m., on the 14th day of December to consider the proposal
of Columbia Park Properties, that the City assist in financing a project
consisting of the acquisition of lard at one of the following site and the
construction and equipping of an approximately 30,000 sq. ft. medical
clinic facility by the issuance of industrial development revenue bonds.
The proposed site is a part of the proposed Center City Project located
south of the Civic Center. The exact site will be determined prior to the
public hearing.
The estimated principal amount of bonds or other obligations to be issued
to finance this project is $3,590,000.
Said bonds or other obligations if and when issued will not constitute a
charge, lien or encumbrance upon any property of the City except, the
project and such bonds or obligations will not be a charge against the
City's general credit or taxing powers but are payable from sums to be
paid pursuant to a revenue agreement.
A draft copy of the proposed application to the Commissioner of
Securities, State of Minnesota, for approval of the project, together with
all attachments and exhibits thereto, is available for public inspection '
beginning November 23, 1981, from 8:00 o'clock a.m. to 5:00 o'clock p.m.,
Monday through Friday, at the office of the City Manager.
At the time and place fixed for said Public Hearing, the City Council of
the City of Fridley will give all persons who appear at the hearing an
opportunity to express their views with respect to the proposal.
DATED THIS 23RD DAY OFNOVEf3EF 1981, BY ORDER OF THE CITY COUNCIL OF THE
CITY OF FRIDLEY.
SIDNEY C. - CITY CLERK
Publish: November 25, 1981
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