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2007_0507_packet
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2007_0507_packet
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Roseville City Council
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Council Agenda/Packets
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RESOLUTION NO. <br />RESOLUTION CALLING FOR A PUBLIC HEARING <br />ON THE ISSUANCE OF HOUSING REFUNDING REVENUE BONDS <br />(EAGLECREST PROJECT) <br />PURSUANT TO MINNESOTA LAW, AND AUTHORIZING <br />THE PUBLICATION OF A NOTICE OF THE HEARING <br />�a� WHEREAS, Minnesota Statutes, Chapter 462C (the "Act"), confers upon <br />cities, housing and redevelopment authorities and economic development authorities, the power <br />to issue revenue bonds to finance multifamily housing developments within the boundaries of the <br />city; and <br />�b� WHEREAS, the City Council of the City of Roseville, Minnesota (the <br />"City") has received from PHS/EagleCrest, Inc., a Minnesota nonprofit corporation (the <br />"Borrower"), a proposal that the City undertake a program to assist in refunding certain revenue <br />bonds previously issued by the City to finance a Project hereinafter described, through the <br />issuance of revenue bonds (the "Bonds") pursuant to the Act; and <br />��� WHEREAS, before proceeding with consideration of the request of the <br />Borrower it is necessary for the City to hold a public hearing on the proposal pursuant to the Act: <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Roseville, Minnesota, as follows: <br />1. A public hearing on the refunding proposal of the Borrower will be held <br />at the time and place set forth in the Notice of Public Hearing hereto attached. <br />2. An estimate of the principal amount of Bonds to be issued are described in <br />the attached form of Notice of Public Hearing. <br />3. The Manager of the City is hereby authorized to cause the notice of the <br />hearing to be published in a newspaper of general circulation available in the City, not less than <br />15 days nor more than 30 days prior to the date fixed for the hearing, substantially in the form of <br />the attached Notice of Public Hearing. <br />� <br />
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