Loading...
RES 1983-72 - 00005768149 RESOLUTION NO. 72 - 1983 RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL TO UNDERTAKE AND FINANCE AN INDUSTRIAL DEVELOPMENT PROJECT (FRANK SHEAR ASSOCIATES PROTECT) WHEREAS, Frank Shear Associates, a Minnesota general partnership (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, the 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) days 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 22ND DAY OF AUGUST, 1983. ATIEV: D I NO M DI•' Page 2 — Resolution No. 72 - 1983 150 EXHIBIT A 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, September 12, 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. The proposed project is a commercial printing facility to be located at 40 - 77th Way NE, Fridley, Minnesota, and consists of the acquisition of land, the construction of a building thereon, and the acquisition and installation therein of equipment by Frank Shear Associates, a Minnesota general partnership, 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 $4,300,000. 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