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