6.2. SR 02-22-2005 - Laserfiche WebLink

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NOTICE OF PUBLIC HEARING ON A PROPOSAL FOR A COMMERCIAL FACILITIES DEVELOPMENT PROJECT Notice is hereby given that the City Council of the City of Elk River, Minnesota (the "City"), will meet at the Council Chambers of City Hall, 13065 Orono Parkway in the City at 6:30 p.m. on Monday, March 21, 2005, to consider the proposal of The Church of St. Andrew, a Minnesota nonprofit religious corporation (the "Borrower"), that the City allow the financing of the non-religious portions of the renovation and equipping of, and construction of additions to, a school for kindergarten through 6th grade known as St. Andrew School, owned and operated by the Borrower and located at 428 Irving Avenue in the City (the "Project") through the issuance of revenue bonds, the proceeds of which will be loaned to the Borrower to pay a portion of the costs of the Project and will be repaid by the Borrower. The maximum aggregate estimated principal amount of bonds or other obligations of the City to be issued to finance the Project is $2,500,000. The bonds or other obligations if and when issued will not constitute a charge, lien or encumbrance upon any property of the City and such bonds or obligations will not be a charge against the City's general credit or taxing powers but will be payable from sums to be paid by the Borrower pursuant to a revenue agreement. A draft copy of the proposed application to the Commissioner of the Department of Employment and Economic Development, State of Minnesota, for approval of the projects, together with all attachments and exhibits thereto, is available for public inspection from 8:00 a.m. to 4:30 p.m., Monday through Friday, at the City Hall in the City. Comments concerning these applications may be presented at the public hearing or flied with the City Clerk until 4:30 p.m. on the day of the hearing. Ea.ch response will be considered before any formal action is taken by the City Council. If there are questions concerning these applications call the City Clerk at (763) 635-1000. Joan Schmidt, City Clerk Dated this day of ,2005.