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CITY OF GEM LAKE. .RESdLUTIONNO. 9844 19. 44n"ry Ms A RESOLUTIONCALLING FOR PUBLIC HEARING PURSUANT TO SECTION 469.1.54, SURD. 4 WHEREAS,,.a.proposal has.been*.made tothi§ Councilthafthe City issue revenue bonds to finance capital improvements (the. "Projeet'lpursuant to Minnesota StatutA.$txrtions 469.152to:.A69.165; as amended (The "Act"}, :on behalf of White Bear.Lake Montessori, a Minnesota nonprofit corporation. (the:"Borrower" ), consisting of the issuance ofup to one million ($1,000,000) .dollars of revenue borids.on behalf of theoixower; and. WHEREAS, the: PK6jecrcotisists of the acquisitions and remodeling of, and as. approximately 6.900 square foot addition to; an existing church building for use as a private school located at 1201 .East County Road E, Gem.Lake, Minnesota:. and WHEREAS, the Act requires this.Council to codducta public hearing.-6h the proposal and to publish notice of'said hearing not less than f fteen (15) days nor more than thitty.(30) days prior to the date fixed for the hearing;:and WHEREAS, a draft copy of a:proposed application to the Minnesota Department of Trade"Economic DeMopmeut, together with 411 attachments and exhibits thereto, will be placed on file with the: City Clerk. t- NOW .THERE.FORE. BE.1T RESOLVED, that the Council of the City of Gem. Lake. -shall conduct a public hearing. on*the proposal: to. undertake: and finance the: Project in connection with it's rescheduled regular meeting on February 23. 1998,. said public Bearing. and meeting.to be held in. the. first floor conference room of Tougley i;ord, 1:49.3 .East County Road -13; Geni Lake,. Minnesota,. at which hearing all parties who: appear shall he given an. opporfuiiity to express their vievys:with respect to the project .and to submit written .commerits; and .BE IT FURTHER RESOLVED, riofice setting forthihe:time an4place.:0fdre hearing; the geneW nature of the Project and. an estimate of the principal amount of bonds or other obligations to -be.. issued to finance the Project shall be published at least .once not less than -fifteen (13) days.nor mor6than: thirty (30) da3►s.priorto the date: fixed for the hearing, in the official newspaper and a newspaper of general circulationavailable to.the residents of the City. The.notice shall state a draft copy of the proposed application to the Minnesota Department bt Trade:and Economic.Developirteiit;jogetherwith all attachments and exhibits thereto, shall be available for public inspection following the publication of such tlotide:-and shall specify the. place and times where iuMd: when it will be so available.