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<br />RESOLUTION 7574 <br /> <br />RESOLUTION CALLING FOR A PUBLIC HEARING <br />ON A PROPOSAL FOR AN INDUSTRIAL <br />FACILITIES DEVELOPMENT PROJECT <br />PURSUANT TO THE MINNESOTA MUNICIPAL <br />INDUSTRIAIjDEVELOPMENT ACT AUTHORIZING <br />THE PUBLICATION OF A NOTICE OF THE HEARING <br /> <br />(Y <br /> <br />~ <br />l' <br /> <br />WHEREAS, <br /> <br />. . <br /> <br />(a) Chapter 474, Minnesota Statutes, <br />known as the Minnesota Municipal Industrial <br />Development Act (the "Act") gives muni- <br />cipalities the power to issue revenue bonds <br />for the purpose of the encouragement and <br />development of economically sound industry <br />and commerce to prevent so far as possible <br />the emergence of blighted and marginal lands <br />and areas of chronic unemployment; <br /> <br />(b) The City Council of the City of <br />Roseville (the "City") has received from <br />Thomas N. Jones and Marilyn o. Jones, husband <br />and wife, residents of the State of Minnesota <br />(the "Borrowers") a proposal that the City <br />assist in financing a project hereinafter <br />described, through the issuance of its <br />industrial revenue bonds (whiCh may be in the <br />form of a single debt instrument) (the <br />"Bonds") pursuant to the Act; <br /> <br />(c) Before proceeding with consider- <br />ation of the request of the Company it is <br />necessary for the City to hold a public <br />hearing on the proposal pursuant to Section <br />474.01, Subdivision 7b, Minnesota Statutes; <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of <br />the City of Roseville, Minnesota, as follows: <br /> <br />1. A public hearing on the proposal of the Borrowers <br />will be held at the time and place set forth in the Notice of . <br />Hearing hereto attached. <br />