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Councilmember Reimann introduced the following resolution and moved <br />for its adoption: <br /> <br />RESOLUTION #85-32 <br /> <br />RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL <br />FOR A COMMERCIAL FACILITIES DEVELOPMENT PROJECT PURSUANT <br /> TO 1/tE MINNESOTA MUNICIPAL INDUSTRIAL DEVELOPMENT ACT <br /> AUII~ORIZING ~/tE PUBLICATION OF A NOTICE OF ~HE HEARING <br /> (FOOD' N' FUEL PROJECT) <br /> <br /> WHERERAS, Chapter 474, Minnesota Statutes, known as the <br />Minnesota Municipal Industrial Development Act (the "Act") gives <br />municipalities the power to issue revenue bonds for the purpose <br />of the encouragement and development of economically sound <br />industry and commerce to prevent so far as possible the emergence <br />of blighted and marginal lands and areas of chronic unemployment; <br />and <br /> <br /> WHEREAS, the City Council of the City of Ramsey (the "City") <br />has received from Gregory Johnson, David Brandt and Kenneth <br />Pederson, who, with others to be named intend to form a Minnesota <br />partnership (the "Company") a proposal that the City assist in <br />financing a project hereinafter described, through the issuance <br />of its industrial revenue bonds (which may be in the form of a <br />single debt instrument) (the "Bonds") pursuant to the Act; and <br /> <br /> WHEREAS, before proceeding with consideration of the request <br />of the Company it is necessary for the City to hold a public <br />hearing on the proposal pursuant to Section 474.01, Subdivision <br />7b, Minnesota Statutes. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br /> 1) A public hearing on the proposal of the Company will be <br />held at the time and place set forth in the Notice of Hearing <br />hereto attached. <br /> <br /> 2) The general nature of the proposal and an estimate of <br />the principal amount of bonds to be issued to finance the <br />proposal are described in the attached form of Notice of Hearing. <br /> <br /> 3) A draft copy of the proposed application to the Energy <br />and Economic Development Authority, State of Minnesota, for <br />approval of the project, together with proposed forms of all <br />attachments and exhibits thereto, is on file in the office of the <br />City Administrator. <br /> <br /> 4) The City Administrator is hereby authorized and directed <br />to cause notice of the hearing to be given one publication in the <br />official newspaper and a newspaper of general circulation <br /> Resolution #85-32 <br /> <br />Page 1 of 2 <br /> <br /> <br />