HomeMy WebLinkAbout83-060
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STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF ARDEN HILLS
Resolution No. 83-60
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 municipalities the power to Issue revenue bonds for the
purpose of the attraction, promotion, encouragement and develop-
ment of economically sound Industry and commerce;
(b) The City COuncil of the City of Arden
Hills (the "City") has received from Arden HI lis Business
Center Partners - Phase II. a limited partnership to be formed
under the laws of the State of 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 Issu-
ance 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 consideration 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;
NOW, THEREFORE, BE IT RESOLVED by the City Councl I
of the City of Arden Hills, 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.
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.
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4. A draft copy of the proposed application to the
Comml~slon of Energy and Economic Development~ State of Minn-
esota, for approval of the project, together with proposed
forms of all attachments and exhibits thereto, Is on file In
the office of the City Clerk
5. The City Clerk Is hereby authorized and 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 by the ~!~Y. Councl I of the.Slty of Arden
Hills, Minnesota, this ~day of ('LPYA..IU/J , 1983.
ql~JJoh,~n~
y Clerk
rr~A/d7..)~~~
v Mayor
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NOTICE OF PUBLIC HEARING
ON A PROPOSAL FOR A COMMERCIAL
FACILITIES DEVELOPMENT PROJECT
TO WHOM IT MAY CONCERN:
Notice Is hereby given that the City Council of the
City of Arden HI lis, Minnesota will meet at the City Hall In
. e Clt'l 0 Arden Hills, Mtnnesoh at Zi:3cJ p.m. on
if / 'cf , to consider the proposal of Arden Hills
Business Cen e artnershlp - Phase II, that the City assist In
financing a project hereinafter described by the Issuance of
Industrial development revenue bonds.
Description of Project
The proposed project shall consist of the
acquisition of land and the construction and
equipping thereon of an approxlmllte 50,000
square foot office feclllty to ba located at
the southeast corner of the Intersection of
Pine Tree Drive and County Road E In Arden
Hills, Minnesota.
The estimated principal amount of bonds or other
obligations to be Issued to finance this project Is 55,015,000.
Said bonds or other obligations If and when Issued
will not constitute a charge, lien or encumbrance upon any
property of the City except the project and such bonds or
obligations will not be a charge against the City's general
credit or taxing powers but are payable from sums to be paid
by Arden HI lis Business Center Partners - Phase II pursuant
to a revenue agreement.
A draft copy of the proposed application to the
Commission ~f Energy and Economic Development, State of
Minnesota, for approval of the project, together with all
attachments and exhibits thereto, Is available for public
Inspection beginning November 7 , from 8:30 a.m. to 4:30 p.m.
Monday through Friday; at the City Hall In Arden Hills, Minn-
esota.
At the time and place fixed for said Public Hearing,
the City Council of the City of Arden Hills will give all
persons who appear at the hearing an opportunity to express
their views with respect to the proposal.
Dated. thisW..i:l day of ~../ 1983.
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(BY ORDER OF THE CITY COUNCIL>
B@1!~~k~1
City Clerk