83-059 - Laserfiche WebLink

Home Browse Search

, .~ .,. ~.~ STATE OF MINNESOTA COUNTY OF RAMSEY CITY OF ARDEN HILLS Resolution No. 83-59 . RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL FOR A COMMERCIAL FACILITIES DEVELOPMENT PROJECT PURSUANT TO THE MINN- ESOTA MUNICIPAL INDUSTRIAL DEVELOPMENT ACT AUTHORIZING THE PUBLICATION OF A NOTICE OF SAID HEARING WHEREAS, (a) Chapter 474, Minnesota Statutes, known as the Minnesota Municipal Industrial Development Act (the "Act") gives munici- palities the power to Issue revenue bonds for the purpose of the ettractlon, promotion, encouragement and development of economically sound industry and commerce; (b) The City Council of the City of Arden Hills (the "City") has received from Arden Hills Business Center Partners -Phese I, a limited partnership to be formed under the laws of the State of Minnesota with Woodbridge Properties Reel Estete Development Fund, as the mllnaglng general pertner (the "Company") a proposal that the City assist In financing a project hereinafter described, through the issuance of Its Industrlel revenue bonds (which may be In the form of a single debt Instrument) (the"Bonds") pursuant to the Act; (c) Before proceeding with conslderll- tlon of the request of the Company It Is necessery for the Clfy to hold a public hearing on the proposal pursuant to Section 474.01, Subdivision 7b, Minnesota Statutes; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Arden Hills, Minnesota, as follows: . I. A Public Hearing on said proposal of the Company will be held et the time and place set forth In the Notice of Hearing hereto attached. 2. The general nature of the proposlll end an estimate of the principal emount of bonds to be Issued to finance the proposal are described In the form of NotIce of Hearing hereto attached.