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HomeMy WebLinkAboutCity Council Resolution 1985-798RESOLUTION NO. 85-798 RESOLUTION CALLING A PUBLIC HEARING ON A PROPOSAL TO UNDERTAKE AND FINANCE AN INDUSTRIAL DEVELOPMENT PROJECT WHEREAS, Crocker Investment Company, a Minnesota general partnership (the "Company"), has presented the City Council (the "Council") of the City of Plymouth, Minnesota (the "City"), with information concerning a proposed project (the "Project") within the City; and WHEREAS, the Company has requested that the City issue its commercial or industrial development revenue obligations under Minnesota Statutes, Chapter 474, to provide financing to the Company for the Project: NOW, THEREFORE, BE IT RESOLVED by the Plymouth City Council as follows: 1. This Council will conduct a public hearing on the proposal to undertake and finance the Project, as described in the Notice of Public Hearing attached to and made a part of this resolution (the "Notice"). 2. The City Clerk is hereby authorized to cause the Notice or a notice in substantially the same form thereof to be published in the City's official newspaper and in a news- paper of general circulation in the City not more than 30 nor less than 15 days prior to the date of the public hear- ing specified in the Notice. 3. The City Clerk shall file in his or her office, and there make available for public inspection following the publication of the Notice, a draft copy of the application for approval of the Project, including all required attach- ments and exhibits thereto, proposed to be made to the Minn- esota Department of Energy and Economic Development. Notice of Public Hearing Commercial Development Revenue Bonds City of Plymouth, Minnesota Notice is hereby given that a public hearing will be conducted by the City Council of the City of Plymouth, Minnesota, at the City Hall, 3400 Plymouth Boulevard, Plymouth, Minnesota, at a meeting of the City Council to be held on October 28, 1985, commencing at 7:30 p.m., C.T. At the public hearing the Council will consider a proposal that the City assist the financing of a commercial or industrial development project by issuing its bonds or other obliga- tions pursuant to Minnesota Statutes, Chapter 474. The proposed project consists of the acquisition of land and the construction thereon of an approximately 60,000 square foot office building consisting of a lower parking level and 3 floors containing a total of approximately 42,000 square feet of leasable office space (the "Project"), to be located within the City on an approximately 3.37 acre parcel situated West of County Road 18, East of Nathan Lane and South of Highway 55, by Crocker Investment Company, a Minnesota general partnership (the "Company"). It is pro- posed that the City assist financing the Project from the proceeds of an issue of the City's commercial or industrial development revenue obligations in an amount presently esti- mated not to exceed $5,250,000. If issued, such obligations would be payable from lease payments or loan repayments to be made or secured by the Company. A draft copy of the proposed application to the Minne- sota Department of Energy and Economic Development for approval of the Project is available for public inspection in the office of the City Clerk. All persons appearing at the public hearing will be given an opportunity to present their oral or written com- ments on the proposal that the City undertake and finance the Project. BY ORDER OF THE PLYMOUTH CITY COUNCIL By /s/ Laurie Houk City Clerk