84-127 - 11-20 - Municipal Industrial Development Act Public HearingResolution 84-127
November 20, 1984
Member Bakken introduced the following resolution and moved its adoption:
RESOLUTION RELATING TO A PROJECT UNDER THE
MINNESOTA MUNICIPAL INDUSTRIAL DEVELOPMENT ACT;
CALLING FOR A PUBLIC HEARING THEREON
BE IT RESOLVED by the City Council of the City of Golden Valley, Minnesota,
as follows:
Section 1. Recitals.
1.01. The City is authorized by Minnesota Statutes, Chapter 474 (the Act),
to issue its revenue obligations to finance capital projects consisting of
properties used and useful in connection with a revenue-producing enterprise.
1.02. Hayes Enterprises, having its principal
City of Minneapolis (hereinafter the Borrower), has
desire to acquire an existing building and modify it
Project). The Borrower has requested that the City
in an amount not exceeding $2,700,000 to finance a p
Project.
Section 2. Public Hearing.
place of business in the
advised this Council of its
for industrial use (the
issue its revenue obligations
ortion of the cost of the
2.01. Section 474.01 of the Act requires that prior to submission of an
application to the Commissioner of Energy, Planning and Development requesting
approval of the Project as required by Section 474.01 of the Act, this Council
shall conduct a public hearing on the proposal to undertake and finance the
Project. Pursuant to that provision, a public hearing on the proposal to
undertake and finance the Project is called and shall be held on May 3, 1983 at
7:30 PM at the City Hall.
2.02. The City Attorney shall cause notice of the public hearing to be
published in the official newspaper of the City and in Finance and Commerce,
newspaper of general circulation in the City, at least once not less than
fifteen (15) nor more than thirty (30) days prior to the date fixed for the
hearing, such notice to be in substantially the form attached hereto.
2.03. A draft copy of the proposed application to the Commissioner of
Energy, Planning and Development, together with all attachments and exhibits
thereto, are hereby ordered placed on file in the office of the City Clerk, and
shall be available for public inspection, following the publication of the
notice of public hearing, during regular business hours.
Mary E. A e rso n, Mayor
ATTEST:
Shirley Ne so , City Clerk
Resolution 84-127 - Continued
November 20, 1984
The motion for the adoption of the foregoing resolution was seconded by Member
Johnson and upon a vote being taken thereon, the following voted in favor
thereof: Anderson, Bakken, Johnson, Stockman and Thompson; and the following
voted against the same: none, whereupon said resolution was declared duly
passed and adopted, signed by the Mayor and her signature attested by the City
Clerk.