HomeMy WebLinkAbout6998 - ADMIN Resolution - City Council - 1981/10/26r
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RESOLUTION NO. 6998
RESOLUTION RELATING TO A PROJECT UNDER THE -
MINNESOTA MUNICIPAL INDUSTRIAL DEVELOPMENT_
ACT, ORDERING A PUBLIC IIEARING THEREON AND
APPROVING PUI3LICATION OF THE NOTICE OF PUBLIC
HEARING THEREOF
BE IT RESOLVED by the City Council (this "Council':) of_
the City of St. Louis Park, Minnesota (the -"City"), as follows:
Section 1. Recitals.
__1.01. Excelsior Clinic, a Minnesota -general partnership_
(the "Partnership"), has advised this Council of its desire:to-
acquire a 24,000 square'foot office building on approximately 3:75
acres of land in the City, to renovate and reconstruct said -building
as a medical office building and to purchase the necessaiy-equipment-
therefor (the "Project").
1.02. The City is authorized -by the Municipal Industrial
Development Act, Minnesota Statutes, Chapter 474, as -amended -(the -
"Act"), to issue its revenue bonds to finance capital projects: -
consisting of properties used and useful in connection with a
revenue producing enterprise, such. as that'of the Project. The
Proponent has -requested that the City issue it:, Levenrre bonds'in .an
amount not to exceed $2,200,000 in order to finance-the:cost of -the
Project.
Section 2. Public Hearing.
2.01. Section 474.01, Sfibdivision 7b of the Act requires -
that prior_to submission of an application to the Commis:,loner_ of. -
Securities and Real Estate, Minnesota Department of CommeL-ce--(the
"Commissioner") requesting approval of the Project, as required by
Section 474.01, Subdivision 7a of the Act, this Council shall_
conduct a public bearing on the proposal to under take _and finance_
the Pioject. Pursuant to the folegozng provisions of'the Act, a -
public hearing on the proposal to undertake and-finance'the Project
is hereby called and shall be held on November 16, 1981, at -7:30
o'clock P.M. at the City Hall.
2.02. The City Clerk is hereby directed to cause notice:of the
puhlic hearing to be puhlished in the St. Louis Park Sun, the official news-
paper of the City, at least once not less than fifteen (15) nor more than'
thirty (30) days prior to the date fixed for the puhlic hearing. A copy of
the notice of the puhlic hearing is attached hereto as Exhibit A.
2.03. A draft copy of the proposed application to the
Commissioner, together with all attachments and exhibits thereto,
are hereby ordered to be placed on file with Lhe City Clerk, and
shall be available for public inspection, following publication of
the notice of public hearing, between the hours of 8 A.M. and 4:30
P.M. on Monday through Friday.
Adopted by the City Council of the City of St. Louis
Park, Minnesota, the 26th day of October, 1981.
ATTEST:
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Hanson, ity Clerk
Reviewed for administration:
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Approved as to form and legality:
or
City Attorney