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2000_0214_packet
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2000_0214_packet
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WHEREAS, a public hearing on the Project was held on the date hereof, after notice <br /> was published and materials made available for public inspection at the <br /> City Hall, all as required by the Act and Section 1470 of the Internal <br /> Revenue Code of 1986, as amended, at which public hearing all those <br /> appearing who desired to speak were heard and written comments were <br /> accepted; and <br /> WHEREAS, A portion of the Proj ect will be located in the City of Brainerd and at the <br /> existing facilities of the Borrower in the City of Roseville, Minnesota (the <br /> c cCiV>). <br /> NOW, THEREFORE, BE IT RESOLVED THAT: <br /> 1 The portion of the Project to be located in the City (as described in the Notice of <br /> Public Hearing published prior to the date of consideration of this resolution) is <br /> hereby approved by the City and the issuance of the Notes by the City for such <br /> purpose (in the amount described in the Notice of Public Hearing) and in an <br /> aggregate principal not to exceed $1,800,000 is hereby approved. <br /> 2 Obligations will be issued by the City of Brainerd to finance the Project and the <br /> Notes to be issued by the City of Brainerd to finance the Project shall not <br /> constitute a charge, lien, or encumbrance, legal or equitable, upon any property of <br /> any other city; and the Notes, when, as, and if issued, shall recite in substance that <br /> Notes, including the interest thereon, are payable solely from the revenues <br /> received from the Project and the property pledged to the payment thereof; and <br /> the Notes shall not constitute an obligation of any other city and shall not be <br /> secured by any taxing power of any other city. <br /> 3. The Borrower shall pay any and all costs incurred by the cities where LSS <br /> facilities are located in connection with the portion of the Project located in those <br /> cities, whether or not the Project is approved, the Notes are issued, or the Project <br /> is carried to completion. <br /> 4. All prior actions taken by the City staff with respect to directing Kennedy & <br /> Graven, Chartered to prepare.the Notice of Public Hearing causing notice of the <br /> hearing to be given in the City, not less than 14 days nor more than 30 days prior <br /> to the date fixed for the hearing are hereby ratified, affirmed and approved. <br /> The motion for the adoption of the foregoing resolution was duly seconded by Member <br /> MMMMMMM, and upon a vote being taken thereon, the following voted in favor <br /> thereof: and the following voted against the same: . <br /> WHEREUPON said resolution was declared duly passed and adopted. <br />
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