85-56
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CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
Dated October 7, 1985
!vbtion by Councilmenber: Wa t son
Resolution NO. 85-56
Seconded by Counci lmember Hamil ton
RESOLUTION CALLING FOR A PUBLIC HEARING.
ON A PROPOSAL FOR EQUIPMENT PURCHASE
AND REPLACEMENT
PURSUANT TO THE MINNESOTA MUNICIPAL
INDUSTRIAL DEVELOPMENT ACT AUTHORIZING
THE PUBLICATION OF A NOTICE OF SAID HEARING
M. A. Gedney Company
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HHEREAS,
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(a) Chapter 474, Minnesota Statutes, known as the Minnesota
Municipal Industrial Development Act (the "Act") gives municipalities the
power to issu~ revenue bonds for the purpose of the encouragement and develop-
ment of economically sound industry and commerce to prevent so far as possible
the emergence of blighted and marginal lands and areas of chronic unemployment;
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(b) The City Council of the City of Chanhassen (the "City")
has received from M. A. Gedney Company
organized under the laws of the State of Minnesota (the "Company") a proposal
that the City assist in financing a project hereinafter described, through the
issuance of its industrial revenue bonds (which may be in the form of a single
debt instrument) (the "Bonds") pursuant to the Act;
(c) Before proceeding with consideration of the request of the
Company it is necessary for the City to hold a public hearing on the proposal
pursuant to Section 474.01, Subd. 7b, Minnesota Statutes;
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of
Chanhassen, Minnesota, as follows:
1. A public hearing on said proposal of the Company will be held at the
time and place set forth in the Notice of Hearing hereto attached.
2. The general nature of the proposal and an estimate of the principal
amount of bonds to be issued to finance.the proposal are described in the form
of Notice of Hearing hereto attached.
3. The Notice of said Public Hearing shall be in substantially the form
contained in the Notice hereto attached.
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4. The Applicant is hereby directed to file a draft copy of the proposed
application to the Commissioner of Securities and Real Estate, State of Minnesota,
for approval of the project. together with proposed forms of all attachments and
exhibits thereto, in the office of the City Clerk no later than the date of the
initial publication of the Notice of Public Hearing as directed in Section 5 of
this resolution.
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5. The City Manager is hereby authorized and directed to cause notice
of said hearing to be given one publication in the official newspaper and a
newspaper of general circulation available in the City, not less than 15 days
nor more than 30 days prior to the date fixed for said hearing, as shown in the
notice of hearing hereto attached.
this
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Adopted by the City Council of the City of Chanhassen, Minnesota,
7th day of October, 1985. , -1.;;1 0, L
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Mayor
A~testL2
Q..~
Ci ty Cl erk/~lanager
Yes
No
Not Voting
Hamilton
Geving
Horn
Swenson
Watson
None