HomeMy WebLinkAbout7164 - ADMIN Resolution - City Council - 1982/06/21RESOLUTION NO. 7164
RESOLUTION RELATING TO A PROJECT UNDER THE
MUNICIPAL INDUSTRIAL DEVELOPMENT ACT; CALLING FOR A
PUBLIC HEARING THEREON
BE IT RESOLVED by the City Council of the City of St.. Louis Park, Minnesota
(the Municipality), as follows:
SECTION 1
Recitals
1.1. G & N Partnership, a Minnesota general partnership (the Borrower), has
advised this Council•of its desire to acquire an existing building and adjacent
land in the Municipality and to renovate and construct the building for use as
a commercial medical and dental office facility (the Project) to be leased by
the Borrower to various tenants.
1.2. The Municipality is authorized by Minnesota Statutes, Chapter 474 (the
Act), to issue its bonds to finance capital projects consisting of properties
used and useful in connection with a revenue-producing enterprise. The Bor-
rower has requested the Municipality issue its, revenue bonds in an estimated
total amount of $4,500,000 to finance a portion or all of the cost of the
Project.
SECTION 2
Public Hearing
2.1. Section 474.01, Subdivision 7b of the Act requires that prior to submission
of an Application to the Commissioner of Minnesota Department of Energy, Plan-
ning and Development requesting approval of the Project as required by Section
474.01, Subdivision 7 of the Act, this Council shall conduct a public hearing
on the proposal to undertake and finance the Project. Pursuant to that pro-
vision, a public hearing on the proposal to undertake and finance the Project
is called and shall be held on July 19, 1982 at 7:30 p.m. at the City Hall.
2.2. The City Clerk shall cause notice of the public hearing to be published in
the official newspaper of the Municipality, the St. Louis Park Sun, at least
once not less than fifteen (15) nor more than thirty (30) days prior to the
date fixed for the public hearing. The notice to be published shall be in
substantially the following form:
NOTICE
OF PUBLIC HEARING ON FINANCING
INDUSTRIAL DEVELOPMENT PROJECT
ON BEHALF OF G & N PARTNERSHIP
NOTICE IS HEREBY GIVEN that a public hearing shall be conducted by the City
Council of the City of'St. Louis Park, Minnesota on an industrial development
project proposed to be undertaken and financed pursuant to Minnesota Statutes,
Chapter 474, by the City and G & N Partnershrip, a Minnesota general partner-
ship (the "Borrower"). The hearing will be held at the City Hall in said City
on July 19, 1982 at 7:30 p.m. The project as proposed consists generally of
the acquisition, renovation and construction of a dental/medical office building.
Under the proposal, up to approximately $4,500,000 in principal amount of
Industrial Development Revenue Bonds of the City of S•t. Louis Park will be
issued to finance the project. At said time and place the City Council
shall give all parties who appear an opportunity to express their views with
respect to the proposal to undertake'and finance the project. A draft copy
of the proposed Application to the Minnesota Department of Energy, Planning
and Development for the project, together with all attachments and exhibits
thereto, shall be available for public inspection, following publication of
this notice, in the office of the City Clerk, Monday through Friday, except
legal holidays, from 8:00 p.m. to 4:30 p.m. to and including the date of
the hearing.
Attest:
rty C erk
Reviewed for administration
Adopted by the City Council June 21, 1982
Mayor
1
Ag --`41,„,"
Reviewed as to form and legality