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RESOLUTION NO. 7038 - continued
Copies of the adopted budget may be examined on weekdays at the City Hall,
216 North Fourth Street between 8:30 A. M. and 4:30 P. M.
Dated: February 17, 1982
Published: February 26, 1982
Mayor
Attest: j /le'1/41
Cit Coordinator
RESOLUTION NO. 7039
RESOLUTION CALLING FOR A PUBLIC HEARING ON A PROPOSAL FOR A COMMERCIAL FACILITIES
DEVELOPMENT PROJECT PURSUANT TO THE MINNESOTA MUNICIPAL INDUSTRIAL DEVELOPMENT ACT
AUTHORIZING THE PUBLICATION OF A NOTICE OF SAID HEARING.
WHEREAS,
(a) Chapter 474, Minnesota Statutes known as the Minnesota Municipal Industrial
Development Act (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;
(b) The City Council of the City of Stillwater (the "City") has received from
Country House, Inc., a corporation organized under the laws of the State of Minnesota
(the "Company") and a proposal that the City assist in financing a project herein-
after 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 consideration 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 Stillwater,
Minnesota, as follows:
1. A Public Hearing on said proposal of the Company will be held at the time
and place set forth in the Notice of Hearing hereto attached.
2. The general nature of the proposal and an estimate of the principal amount
of bonds to be issued to finance the proposal are described in the Notice of
Hearing hereto attached.
3. The Notice of said Public Hearing shall be in substantially the form contained
in the Notice hereto attached.
4. A draft copy of the proposed application to the Commissioner of Energy,
Planning and Development, State of Minnesota, for approval of the project, together
with proposed forms of all attachments and exhibits thereto, is on file in the office
of the City Clerk.
5. The City Clerk is hereby authorized and directed to cause notice of said
hearing to be given one publication in the official newspaper and a newspaper of
general circulation available in the City, not less than 15 days nor more than 30
days prior to the date fixed for said hearing, as shown in the notice of hearing
hereto attached.
Adopted by the City Council of the City of Stillwater, Minnesota,
this 16th day of February, 1982
Published: March 4, 1982
Attest: X
/J .,.cd,,.Le ,
City Coordinator
1
Mayor
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