HomeMy WebLinkAbout85-026 * s
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RESOLUTION NO. 85-26
• RESOLUTION ESTABLISHING THE DATE FOR PUBLIC
HEARINGS ON TWO PROPOSALS TO UNDERTAKE
AND FINANCE TWO PROJECTS UNDER MINNESOTA
STATUTES, CHAPTER 474
WHEREAS, the Minnesota Municipal Industrial Development Act, Minnesota
Statutes, Sections 474.01 et se (the "Act"), authorizes the issuance of revenue
bonds to finance projects; and
WHEREAS, the term "project" is defined by Section 474.02, subdivision 1a,
of the Act to include "any properties, real or personal, used or useful in connection
with a revenue producing enterprise"; and
WHEREAS, I-35/Lakeville Limited Partnership, a Minnesota limited
partnership to be formed whose sole general partner will be Brutger Companies,
Inc., a Minnesota corporation, (the "Motel Developer") has presented this City
Council (the "City Council") of the City of Lakevffle (the "City") with information
concerning a proposed motel (the "Motel Project") to be acquired and constructed
within the City; and
WHEREAS, Brutger .Companies, Inc., a Minnesota corporation, and A. D.
Investment, Inc., a Minnesota corporation (collectively, the "Shopping Center
Developer") have presented the City Council of the City with information
• concerning a proposed strip shopping mall and gas station/convenience store
development (the "Shopping Center Project") to be acquired and constructed within
the City; and
WHEREAS, the Motel Developer and the Shopping Center .Developer
(collectively, the "Developers") have requested that the City resolve to issue
revenue bonds pursuant to the Act to finance the Motel Project and the Shopping
Center Project (collectively, the "Projects") and have presented to the City
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 by the City Council; and
WHEREAS, Section 474.01, subdivision 7b of the Act provides that the City
Council must conduct a public hearing on any proposal to undertake and finance a
project; and
.WHEREAS, Section 474.01, subdivision 7b, of the Act provides that notice of
the time and place of such public hearing, stating the general nature of the project,
and an estimate of the principal amount of the bonds or other obligations to be
issued to finance the project, must be published at least once not less than fifteen
(15) days nor. more than thirty (30) days prior to the date fixed for the public
hearing in the official newspaper of the City and a newspaper of general
circulation in the City; and
WHEREAS, Section 474.01,_ subdivision _7b, _of the .Act provides .chat the
notice must state that a draft copy of the proposed applications (the
"Applications") to the Minnesota Department of Energy and Economic Development
for approval of the Projects, together with all attachments and exhibits, are on file
with the City and available for public inspection; and
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WHEREAS, the Developers have presented to the City a form of public
• notice, attached hereto as Exhibit B, with a request that the City Council establish
a date for a public hearing on the proposal to undertake and finance the Projects
and authorize publication of the form of public notice provided by the Developers;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF LAKEVILLE THAT:
1. The City will conduct two public hearings on the proposals to
undertake and finance the Projects on the 6th day of May, 1985.
2. The Ca.ty Council wll_saso consider the s.doption of the
preliminary resolution in the form attached hereto as Exhibit A after completion of
the public hearings on May 6, 1985.
3. The City Clerk-Administrator of the City is hereby authorized to
cause a public notice, substantially in the form of the notice attached hereto as
Exhibit B, to be published in the official newspaper of the City and a newspaper of
general circulation in the City.
4. The City Clerk-Administrator of the City is hereby authorized and
directed to have available for public inspeciton in the offices of the City draft
copies of the proposed Applications, together with all attachments and exhibits
thereto.
Adopted this 15th day of April, 1985.
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Dua a Zaun
f ~ yor
Attest:
atrick McGarv
City Clerk-Administrator
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