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<br />-4F .q.- 4> 77 <br /> <br />RESOLUTION CALLING FOR A PUBLIC HEARING <br />ON A PROPOSAL FOR A HEALTH CARE <br />FACILITIES PROJECT PURSUANT TO THE <br />MINNESOTA MUNICIPAL INDUSTRIAL <br />DEVELOPMENT ACT AUTHORIZING THE <br />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 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 />Presbyterian Homes of Minnesota, Inc., a <br />non-profit corporation organized under the <br />laws of the State of Minnesota (the <br />"Company") d. pLUpu~di that. 1..11'= \-ivy aSf:),ist in <br />financing a project hereinafter described, <br />through the issuance of its industrial <br />revenue bonds (WhiCh may be in the fonn of a <br />single debt instrument) (the "Bonds") <br />\ <br />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 Company <br />will be held at the time and place set forth in the Notice of <br />Hearing hereto attached. <br />