2003-57
RESOLUTION NO. 2003-57
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Extract of Minutes of a Meeting of the
City Council of the
City of Chanhassen, Minnesota
Pursuant to due call and notice thereof, a regular meeting of the City Council of the City
of Chanhassen, Minnesota, was duly called and held at the City Hall in said City on Monday, the
23rd day of June, 2003, at 7: 00 o'clock P.M.
The following members were present: Mayor Furlong; Councilmen Ayotte, Labatt,
Lundquist, and Peterson
and the following were absent: None
Member LIJnrlr]ld !';t introduced the following resolution and moved its adoption:
RESOLUTION CALLING FOR A PUBLIC HEARING
ON A PROPOSAL FOR A HOUSING FINANCE PROGRAM
AND THE ISSUANCE OF REVENUE BONDS
TO FINANCE AN ELDERLY HOUSING DEVELOPMENT
ON BEHALF OF PHMlCHANHASSEN, INC.
PURSUANT TO MINNESOTA LAW, AND AUTHORIZING
THE PUBUCATION OFA NOTICE OF THE HEARING
.".....
The motion for the adoption of the foregoing resolution was duly seconded by member
Ayotte , and after full discussion thereof and upon vote being taken thereon, the
following voted in favor thereof: Furlong I Ayotte I Labatt I Lundquist, f'3eterson
and the following voted against the same: None
whereupon said resolution was declared duly passed and adopted.
RESOLUTION CAlLING FOR A PUBUC HEARING
ON A PROPOSAL FOR A HOUSING FINANCE PROGRAM
AND THE ISSUANCE OF REVENUE BONDS
TO FINANCE AN ELDERLY HOUSING DEVELOPMENT
ON BEHALF OF PHMlCHANHASSEN, INC.
PURSUANT TO MINNESOTA LAW, AND AUTHORIZING
THE PUBUCATION OF A NOTICE OF THE HEARING
(a) WHEREAS, Minnesota Statutes, Chapter 462C (the "Act"), confers upon cities,
the power to issue revenue bonds to finance multifamily housing developments within the
boundaries of the city; and
(b) WHEREAS, the City Council of the City of Chanhassen, Minnesota (the "City"),
"..... has received from PHMlChanhassen, Inc. (the "Borrower"), a proposal that the City assist in
financing a Project hereinafter described, through the issuance of revenue bonds or obligations
(in one or more series) (the "Bonds") pursuant to the Act or approving the issuance of the Bonds
by the City of Victoria, Minnesota; and
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""" (c) WHEREAS, before proceeding with consideration of the request of the Borrower
it is necessary for the City to hold a public hearing on the housing finance program and proposal
pursuant to the Act:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Chanhassen, Minnesota, as follows:
1. A public hearing on the housing finance program and proposal of the Borrower
will be held at the time and place set forth in the Notice of Public 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 attached form of Notice of Public
. Hearing.
3. A draft copy of the housing finance program with proposed forms of all
attachments and exhibits shall be on file in the office of the City Manager on the date the Notice
of Public Hearing is published.
."...
4. The City Manager is hereby authorized and directed to cause notice of the hearing
to be given one publication in the official newspaper of the City 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 the hearing, substantially in the form of the attached Notice of Public Hearing with such
changes as required or approved by Bond Counsel.
Adopted by the City Council of the City of Chanhassen, Minnesota, this 23rd day of
June, 2003.
~A-
Mayor
ATTEST:
~{1-LJt-
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"'" Dated: June 23, 2003.
BY ORDER OF THE CITY COUNCIL OF THE CITY OF
C~SSEN,N.ITNNESOTA
By Todd Gerhardt
Its City Manager
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