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<br />Resolution No. 7670 <br /> <br />RESOLUTION CALLING FOR A PUBLIC HEARING <br />ON A PROPOSAL FOR A COMMERCIAL FACILITIES <br />DEVELOPMENT PROJECT PURSUANT TO THE MINNESOTA <br />MUNICIPAL INDUSTRIAL DEVELOPMENT ACT AUTHORIZING <br />THE PUBLICATION OF A NOTICE OF THE HEARING <br /> <br />WHEREAS, <br /> <br />(a) Chapter 474, Minnesota Statutes, <br />known as the Minnesota Municipal Industrial <br />Development Act (the "Act") gives municipalities <br />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 />a Minnesota partnership or corporation to be <br />formed with Health Resources Assistance <br />Corporation as a general partner or stockholder, as <br />the case may be, (the "Company") <br />a proposal that the City assist in financing <br />a project hereinafter described, through the <br />issuance of its industrial revenue bonds (which <br />may be in the form of a single debt instrument) <br />(the "Bonds") pursuant to the Act; <br /> <br />(c) Before proceeding with consideration <br />of the request of the Company it is necessary <br />for the City to hold a public hearing on the <br />proposal pursuant to Section 474.01, Subdivision <br />7b, Minnesota Statutes; <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City Council <br />of the City of Roseville, Minnesota, as follows: <br /> <br />1. A public hearing on the proposal of the Company <br />will be held at the time and place set forth in the Notice <br />of Hearing hereto attached. <br />