Agenda - Council - 07/22/2008 - Laserfiche WebLink

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NOTICE OF PUBLIC HEARING ON A PROPOSED PROJECT FOR KNOLL PROPERTIES AND THE ISSUANCE OF REVENUE BONDS UNDER MINNESOTA STATUTES, SECTIONS 469:152 THROUGH 469.1651. City of Ramsey, Minnesota NOTICE IS HEREBY GIVEN, that the City Council of Ramsey, Minnesota (the "City"), will meet on August 26, 2008. at 7 p.m., at .the City Hall, 7550 Sunwood Drive Northwest, Ramsey, Minnesota, for the purpose of conducting a public hearing on a proposal that the City issue revenue bonds (the "Bonds"), in one or more series, under Minnesota Statutes, Sections 469.152 through 469.1651, in order to finance all or a portion of the costs of constructing, furnishing and equipping a project (the "Project") on behalf of Knoll Properties, LLC, a Minnesota limited liability company (the "Borrower"), in connection with the issuance of the Bonds. The Project will consist of the construction of an approximately 55,000 square foot addition to an existing manufacturing facility for custom metal fabrication, including related equipment and furnishings, located at 6850 Sunwood Drive Northwest in Ramsey, Minnesota The approximate aggregate principal amount of the proposed Bonds is $6,,000,000. 'The Bonds shall be limited obligations of the City, and the Bonds and interest thereon will be payable solely from the revenues pledged to the payment thereof. No holder of any Bonds will ever have the right to compel any exercise of the taxing power of the City to pay the Bonds or the interest thereon, nor to enforce payment against any property of the City except money payable by the Borrower to the City and pledged to the payment of the Bonds A draft copy. of the proposed Application to the Minnesota Department of Employment and Economic Development for approval of the Project, together with -draft copies. of all attachments and exhibits thereto, is available for public inspection at the office of the City Administrator during business hours, 8:00 a.m. to 4:30 p.m., on normal business days. All persons interested may appear and be heard at the time and place set forth above, or may file written comments with the City Administrator prior to the date of the hearing set forth above. Dated: July 22, 2008. By Order of the City Council By: Kurt Ulrich City Administrator Publish July 25, 2008 a2oss?o~i -$1-