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<br />RESOLUTION CALLING FOR A PUBLIC HEARING <br />ON A PROPOSAL FOR AN INDUSTRIAL FACILITIES <br />DEVELOPMENT PROJECT PURSUANT TO THE MINNESOTA <br />MUNICIPAL INDUSTRIAL DEVELOPMENT ACT, AND 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 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 />Rosevil1e, Minnesota ( the "City"), has <br />received from Berger Transfer & Storage, <br />Inc., a corporation organized under the laws <br />of the State of Minnesota (the "Company"), a <br />proposal that the City assist in financing a <br />project hereinafter described, through the <br />issuance of its industrial revenue bonds <br />(which may be in the form of a single debt <br />instrument) (the "Bonds") pursuant to the <br />Act; and <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 /> <br />2. The general nature of the proposal and an <br />estimate of the principal amount of bonds to be issued to <br />finance the proposal are described in the attached form of <br />Notice of Hearing. <br />