Agenda - Council - 05/13/2003 - Laserfiche WebLink

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RESOLUTION CALLING FOR A PUBLIC HEARING ON THE ISSUANCE OF REVENUE BONDS TO FINANCE PUBLIC (CHARTER) SCHOOL FACILITIES, AND AUTHOP,_[ZING THE PUBLICATION OF A NOTICE OF THE HEARING (PACT CHARTER SCHOOL PROJECT) (a) WHEREAS, Minnesota Statutes, Sections 469.152 through 469.1651, relating to municipal industrial development (the "Act"), gives municipalities the power to issue revenue bonds for the purpose of the encouragement and development of economically sound industry and commerce to prevent so far as possible the emergence of blighted and marginal lands and areas of chronic unemployment; and (b) WHEREAS, the City Council of the City of Ramsey, Minnesota (the "City"), has received from PCS Building Company, a Minnesota 501(c)(3) organization (the "Borrower"), a proposal that the .City undertake a program to assist in financing a Project hereinafter described, tba'ough the issuance of revenue bonds or obligations (in one or more series) (the "Bonds") pursuant to the Act; and (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 proposal pursuant to the Act: NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ramsey, Minnesota, as follows: 1. A public hearing on the proposal of the Borrower will be held at the time and place set forth in the Notice of Public Hearing attached hereto. 2. A draft copy of the proposed application to the Commissioner of the Department of Trade and Economic Development, State of Minnesota, for approval of the project, together with proposed forms of all attachments and exhibits thereto, will be on file in the office of the Administrator on or before the date the Notice of Public Hearing is published. 3. The Administi-ator is hereby authorized and directed to cause notice of the hearing to be given one publication in the official newspaper of the City and also in a newspaper of general circulation available in the City, not less than 14 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. 1528859vt 2 -322- I I I I I I I I I I I I I I I I I I I