5.1. SR 07-21-2008 - Laserfiche WebLink

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Legal Notice NOTICE OF PUBLIC HEARING ON A PROPOSED PROJECT FOR METAL CRAFT MACHINE & ENGINEERING, INC. AND THE ISSUANCE OF REVENUE BONDS UNDER MINNESOTA STATUTES, SECTIONS 469.152 THROUGH 469.1651. City of Elk River, Minnesota NOTICE IS HEREBY GIVEN, that the City Council of Elk River, Minnesota (the "City"), will meet on July 21, 2008 at 6:30 p.m., at the City Hall, 13065 Orono Parkway, Elk River, Minnesota, for the purpose of conducting a public hearing on a proposal that the City issue revenue bonds (the "Bonds"), in one or more series, under Minnesota Statutes, Sections 469.152 through 469.1651, in order to finance all or a portion of the costs of constructing, furnishing and equipping a project (the "Project") on behalf of Metal Craft Machine & Engineering, Inc., a Minnesota corporation, Mowry Properties Holdings, LLC and Mowry Properties, LLC, Minnesota limited liability companies, one or more of these entities will be the borrower in connection with the issuance of the Bonds (collectively, the "Borrower"). The Project will consist of the construction of an approximately 83,000 square foot manufacturing facility for medical devices, including related equipment and furnishings, located at 13760 Business Center Drive in Elk River, Minnesota The approximate aggregate principal amount of the proposed Bonds is $5,000,000. The Bonds shall be limited obligations of the City, and the Bonds and interest thereon will be payable solely from the revenues pledged to the payment thereof. No holder of any Bonds will ever have the right to compel any exercise of the taxing power of the City to pay the Bonds or the interest thereon, nor to enforce payment against any property of the City except money payable by the Borrower to the City and pledged to the payment of the Bonds A draft copy of the proposed Application to the Minnesota Department of Employment and Economic Development for approval of the Project, together with draft copies of all attachments and exhibits thereto, is available for public inspection at the office of the City Administrator during business hours, 8:00 a.m. to 4:30 p.m., on normal business days. All persons interested may appear and be heard at the time and place set forth above, or may file written comments with the City Administrator prior to the date of the hearing set forth above. Dated: June 13, 2008. By Order of the City Council By: Lori Johnson City Administrator Publish June 18, 2008 2199304v2