HomeMy WebLinkAboutCity Council Resolution 1986-152524G RESOLUTION NO. 86 - 152
RESOLUTION CALLING FOR A PUBLIC HEARING
ON A PROPOSAL FOR AN INDUSTRIAL
FACILITIES DEVELOPMENT PROJECT
PURSUANT TO THE MINNESOTA MUNICIPAL
INDUSTRIAL DEVELOPMENT ACT AUTHORIZING
THE PUBLICATION OF A NOTICE OF THE HEARING
WHEREAS,
(a) Chapter 474, Minnesota Statutes,
known as the Minnesota Municipal Industrial
Development Act (the "Act") gives muni-
cipalities 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;
(b) The City Council of the City of
Plymouth (the "City") has received from
William F. Bieber (the "Company") a proposal
that the City assist in financing a project
hereinafter described, through the issuance
of its industrial revenue bonds (which may be
in the form of a single debt instrument) (the
"Bonds") pursuant to the Act;
(c) Before proceeding with consider-
ation of the request of the Company it is
necessary for the City to hold a public
hearing on the proposal pursuant to Section
474.01, Subdivision 7b, Minnesota Statutes;
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Plymouth, Minnesota, as follows:
1. A ublic hearing on the proposal of the Company
will be held at he time and place set forth in the Notice of
Hearing hereto attached.