RES 1983-100 - 00005825206
R1MUTION NO. 100 - 1983
RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL TO
UNDERTAKE AND FINANCE AN INDUSTRIAL DEVELOPMENT PROJECT
(JOHNSON PRINTING PROTECT)
WHEREAS, Johnson Printing & Packaging Corp., a Minnesota corporation (the
' "Company ") has presented the City Council (the "Council ") of the City of
Fridley, Minnesota (the "City ") with information concerning a proposed project
(the "Project ") within the City; and
WHEREAS, Company has requested that the City issue industrial development
revenue bonds or notes to provide financing to the Company for the Project:
NOW, THEREFORE, BE IT RESOLVED BY THE FRIDLEY CITY COUNCIL AS FOLLOWS:
1. This Council will conduct a public hearing on the proposal to undertake
and finance the Project, as described in the Notice of Public Hearing attached
hereto as Exhibit A (the "Notice ").
2. The City Clerk- Treasurer is hereby authorized to cause the Notice or a
notice in substantially the same form thereof to be published in the City's
official newspaper and in a newspaper of general circulation in the City not
more than thirty (30) nor less than fifteen (15) prior to the date of the
public hearing specified in the Notice.
3. The City Clerk- Treasurer shall file in his or her office, and there make
available for public inspection following the publication of the Notice, a
draft copy of the application for approval of the Project, including all
required attachments and exhibits, proposed to be made to the Minnesota Energy
and Economic Development Authority.
' PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 17TH DAY OF
OCTOBER, 1983.
WILLIAM J. NEE YOR
ATTEST:
C- Ej 1Z_ SIDNEY C. INMAN - CITY CLERK
Page 2 — Resolution No. 100 - 1983
207
Notice of Public Hearing
Industrial Development Revenue Bonds
City of Fridley, Minnesota
Notice is hereby given that a public hearing will be conducted by the City
Council of the City of Fridley, Minnesota, at the Fridley City Hall, 6431
University Avenue NE, Fridley, Minnesota, at a meeting of the City Council to
' be held on Monday, November 21, 1983, commencing at 7:30 o'clock p.m., C.T.
At the public hearing, the Council will consider a proposal that the City
assist the financing of an industrial development project by issuing its bonds
pursuant to Minnesota Statutes, Chapter 474.
1
The proposed project is the acquisition and installation of equipment for a
commercial printing facility to be located at 40 - 77th Way NE, Fridley,
Minnesota, by Johnson Printing & Packaging Crop., a Minnesota corporation, as
Borrower. It is proposed that the City make a loan to the Borrower to assist
financing the Project from the proceeds of an issue of the City's industrial
development revenue bonds or notes in an amount not to exceed $2,000,000. If
issued, such bonds would be payable solely from loan repayments to be made or
secured by the Borrower.
A draft copy of the proposed application to the Minnesota Energy and Economic
Development Authority for approval of the project is available for public
inspection in the office of the Fridley Clerk- Treasurer.
All persons appearing at the public hearing will be given an opportunity to
present their oral or written comments on the proposal that the City undertake
and finance the project.
By Order of the Fridley City Council
By /s/ Sidney Inman
City Clerk- Treasurer