HomeMy WebLinkAboutCity Council Resolution 1984-590CITY OF FUNOWN
Pursuant to due call and notice thereof, arhe ulaarr meeting of the Cit �r Council of
the City of Plymouth, Minnesota, was held on the Mth day of August . 1984.
The following members were present: Mayor DavenporT =cilmemWr5 Moen,' ei s,
Schneider and Crain
The following members were t: none
Councilmember Schneider introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 84- 590
RESOLUTION RELATING TO A PROSECT UNDER THE MUNICIPAL INDUSTRIAL
DEVELOPMENT ACT; CALLING FOR A PUBLIC HEARING THERFON
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA, (the
Municipality) as follows:
SECTION 1
RECITALS
1.1 Banner Engineering Corporation, a Minnesota corporation (the Borrower), has
advised this Council of its desire to expand its facility in the Municipality, and
equip the same for the manufacture of industrial photo electric controls.
1.2 The Municipality is authorized by Minnesota Statutes, Chapter 474 (the Act), to
Issue its revenue bonds to finance capital projects consisting of properties used and
useful in connection with a revenue-producing enterprise. The Borrower has requested
the Municipality to issue its revenue bonds in an estimated total amount of
$2,500,000 to finance a portion or all of the cost of the Project.
SECTION 2
PUBLIC HEARING
2.1 Section 474.01, Subdivision 7b of the Act requires that prior to submission of
an Application to the Minnesota Commissioner of Securities requesting approval of the
Projec% as required by Section 474.01, Subdivision 7 of the Act, this Council shall
conduct a public hearing on the proposal to undertake and finance the Project.
Pursuant to that provision, a public hearing on the proposal to undertake and finance
the Project is called and shall be held on September 17, 1984 at 7:30 o'clock P.M.,
at the City Center.
2.2 The City Clerk shall cause notice of the public hearing to be published in the
official newspaper of the Municipality and in the Minneapolis Star and Tribune
newspapers of general circulation in the Municipality, at least once not less than
fifteen (15) nor more than thirty (30) days prior to the date fixed for the public
hearing. The notice shall be in substantially the following form:
RESOLUTION NO. 94- 590
Page 2
' 2.3 A draft copy of the proposed Application to the Minnesota Commissioner of
Securities, together with all attachments and exhibits thereto, are hereby ordered
placed on file with the City Clerk and shall be available for public inspection
following publication of the notice of public hearing between the hours of 9:30 a.m.
and 4:30 p.m., Monday through Friday.
Adopted this 20th day of August, 1984
ATTEST:
City Clerk
(Seal)
Mayor
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Moen, and upon vote being taken thereon, t e
following votedn favor thereof: Mavor Davenaort, Councilmembers Moen, Neils,
Schneider and Crain
The foiloving voted against orabstained:
Whereupon the Resolution was declared duly passw and adopted.