HomeMy WebLinkAbout83-061
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STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF ARDEN HILLS
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Resolution No. 83-61
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 municipali-
ties the power to Issue revenue bonds for the
purpose of the attraction, promotion, encourage-
ment, and development of economically sound In-
dustry and commerce;
(b) The City Council of the City of
Arden Hills (the "City") has received from
Arden Hills Business Center Partners - Phase
III, a limited partnership to be formed under
the laws of the State'iof Minnesota with
Woodbridge Properties Real Estate Development
Fund, as the managing general partner (the
"Company") a proposal that the City assist In
financing a project hereinafter described,
through the Issuance of Its Industrial
revenue bonds (which may be In the form of a
single debt Instrument) (the "Bonds") pursuant
to the Act;
(c) Before proceeding with considera-
tion of the request of the Company It Is
necessary for the City to hold a public hearing
on the proposal pursuant to Section 474.01,
Subdivision 7b. Minnesota Statutes;
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NOW, THEREFORE, BE IT RESOLVED by the City Council
of the City of Arden HI lis, Minnesota, as follows:
I. A Public Hearing on said proposal of the Company
will be held at the time and place set forth In the Notice of
Hearing hereto attached.
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2. The general nature of the proposal and an
estimate of the princIpal amount of bonds to be Issued to
finance the proposal are described In the form of Notice of
Hearing hereto attached.
3. The Notice of said Public Hearing shall be In
substantially the form contained In the NotIce hereto attached.
4. A draft copy of the proposed application to the
Commissioner of Energy and Economic Development, State of
Minnesota, for approval of the proJect, together with proposed
forms of all attechments and exhibits thereto, 15 on file In
the office of the City Clerk.
5. The City Clerk 15 hereby authorized an.d directed
to cause notice of said hearing to be given one publication In
the officIal newspaper and a newspaper of general circulation
available In the City, not less than 15 days nor more than 30
days prior to the date fixed for said hearing, as shown In
the notice of hearing hereto attached.
Adopted btYhlsthe ~Jty, Council ~f_the City of Arden
Hills, Minnesota, c$&y day of ~ , 1983.
tV(;L-~~~
Mayor
Attest:
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City Clerk
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NOTICE OF PUBLIC HEARING
ON A PROPOSAL FOR A COMMERCIAL
FACILITIES DEVELOPMENT PROJECT
TO WHOM IT MAY CONCERN:
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Notice Is hereby gIven that the City Council of the
City of Arden Hills, Mlnnesotll will meet at the City Hall In
~ty of Arden Hills, Minnesotll lltji'30 p.m. on
w~~/f~~ , to considar the proposal of Arden Hills
Business Center Partnership - Phase III, thllt the City assist
In flnllnclng a proJect hereinafter described by the Issullnce
of industrllll development revenue bonds.
Description of ProJect
The proposed proJect shall consist of the
acquisition of land and the construction llnd
equipping thereon of an approximllte 50,000
squllre foot office fllclllty to be located lit
the southellst corner of the intersection of
Pine Tree Drive and Qounty Road E In Arden
Hills, Minnesota.
The estimated princIpal amount of bonds or other
obligations to be Issued to finance this proJect Is $5,015,000.
Sai d bonds or other ob II gatlons If llnd when issued
wi II ~ constitute a charge, lien or encumbrance upon llny
property of the City except the proJect and such bonds or
obllglltlons will not be a charge llgalnst the City's generlll
credit or taxing powers but lire payable from sums to be paid
by Arden Hills Business Center Partners - Phase III pursuant
to II revenue agreement.
A draft copy of the proposed llppllcatlon to thll
CommissIoner of Energy and Economic Development, Stllte of
Minnesota, for approval of the proJect, together with all
attachments and exhibits thereto, Is available for public
inspe~tlon beginning November 7 , from 8:30 a.m. to 4:30 p.m.,
Monday through Friday, lit the City Hall In Arden Hills,
Minnesota.
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At the time and place fixed for said Public Hearing,
the City Council of the City of Arden Hills will give all
persons who appellr at the hearing an opportunity to express
their views with respect to the proposal.
Dated this ~/..;yday of ~.f.k...J , 1983.
(BY ORDER OF THE CITY COUNCIL)
By
City Clerk