86-7177R53
RESOLUTION N0. ~1~~
RESOLUTION CALLING A PUBLIC HEARING
ON A PROPOSED PROJECT UNDER THE
MINNESOTA MUNICIPAL INDUSTRIAL
DEVELOPMENT ACT
WHEREAS, Palsco, a Minnesota general partnership (Company),
has proposed that the City undertake and .finance a project under
the Municipal Industrial Development Act, Minnesota Statutes,
Chapter 474 (Act); and
WHEREAS, the Act and federal regulations require that a
public hearing on the proposed project be conducted by the
Council before any action may. be taken by it relative to the
proposed project:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
City of Richfield:
1. The Council shall meet at 7:00 p.m. on Monday, July
14, 1986 to conduct a public hearing on the proposed
project requested by the Company and to take whatever
action in relation thereto as it deems appropriate.
2. The City Clerk is authorized and directed to publish
notice of the hearing in the form attached hereto as
Exhibit A once in the official newspaper and once in
the Minneapolis Star-Tribune, a newspaper of general
circulation in the City, no less than 15 days prior
to July 14, 1986.
Passed by the City Council of the City of Ri ~~ield this 9th
day of June, 1986.
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ohn Ha ilton, Mayor
ATTEST:
homas P. Ferber, City Clerk
Exhibit A
NOTICE OF PUBLIC HEARING
ON INDUSTRIAL DEVELOPMENT PROJECT
NOTICE IS $EREBY GIVEN, that the City Council of the City of Rich-
field, Minnesota, will meet in the Council chambers in the City Hall in the
City of Richfield at 7:00 p.m. on Monday, July 14, 1986, to conduct a
public hearing on a proposal that the City undertake and finance a~project
under the Municipal Industrial Development Act, Minnesota Statutes, Chapter
414.
The project is proposed by Palsco, a Minnesota partnership (Company)
and consists of the acquisition of land and the construction and equipping
thereon of an approximately 149 room, five story hotel and related site
improvements. The project will be located at the northeast corner of the
intersection of Interstate Highway 494 and Lyndale Avenue South in the
City. The principal amount of bonds or other obligations proposed to be
issued by the City to finance the project is estimated to be not in excess
of $6;600;000.00.
A draft copy of a proposed application to the Minnesota Department of
P~tergy, Planning and Development. together with all attachments and axhib-
it• thereto, is available for public inspection at the`offic• of th• City
Clark in the City Hall, City of Richfield, Minnesota during regular City
bu~ineae hour (8t00 a.m. to 4130 p.m. daily, except eaturdaya, 8unday• and
holidays). .
Any person wishing to expree• a view with rkapect to the proposal to
undertake and finance the Project will be held at th• public hearing.
BY ORDER OF THE CITY COUNCIL
By Thomas P. Ferber
City Clerk
Dated: June 9, 1986.