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NOTICE OF PUBLIC HEARING ON <br />PROPOSED PROJECT AND THE ISSUANCE <br />OF INDUSTRIAL DEVELOPMENT REVENUE <br />BONDS UNDERTHE MUNICIPAL INDUSTRIAL <br />DEVELOP~ENT ACT, MINNESOTA STATUTES, <br />CHAPTER 474, AS AMENDED <br /> <br /> CITY OF RAMSEY, MINNESOTA <br /> <br /> NOTICE IS HEREBY GIVEN that the governing body of the <br />City of Ramsey, Minnesota (the ~'city"), will meet on October 21, <br />1980 at _ o'clock .M. at <br />in the City, {or the purpose of~conducting a public hearing <br />on a proposed Industrial Development Act, Minnesota Statutes, <br />Chapter 474, as amended, to undertake and finance a project on <br />~ehalf of Alan C. Phillips (the "Applicant").. The project will con- <br />~ist of the constructing and equipping of an approximately 30,000 <br />square foot office warehouse building to be located in the Ramsey <br />Industrial Park in the City of Ramsey, Minnesota, to be owned by <br />Alan C. Phillips, as an individual, and to be leased to tenants in- <br />cluding Altron, Inc., a Minnesota corporation engaged in the'busi- <br />ness of electronics-manufacturing' The estimated total amount <br /> · nd issue is $1,000,000. The bonds shall be limited <br /> of the proposed bo ..... ~ds and interest thereon shall <br /> obligations of the C~ty ~nG ~n~ ~u~, ~ ~-~ t~ the navment thereof, <br /> be payable solely from t~e revenue p~eu~u ~ ~ ~ <br /> except that such bonds may be secured by a mortgage and other en- <br /> cumbrances on the..Project. ~lo ]]older of any such bonds shall ever <br /> have the right to compel any e)[ercise of the taxing power of the <br /> City to pay the bonds, or the interest thereon, nor to enforce <br /> payment against any property of the City except the Project. <br /> A draft copy of the proposed application to the Minnesota <br /> nissioner of Securities for approval of the project, together <br /> with all attachments and ehibits theretO, is available for public <br /> inspection at <br /> <br />Dated: <br /> <br />, 19 · <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br />City Clerk <br /> <br /> <br />