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<br />CITY OF NEW BRIGHTON, MINNESOTA <br />NOTICE OF PUBLIC HEARING ON A PROPOSAL <br />TO UNDERTAKE AND FINANCE A PROJECT <br />UNDER THE MUNICIPAL INDUSTRIAL DEVELOPMENT ACT, <br />MINNESOTA STATUTES, CHAPTER 474, AS AMENDED <br /> <br />. <br /> <br />~ <br />, <br />! <br /> <br />NOTICE IS HEREBY GIVEN that the City Council of the City of New Brighton, <br />Minnesota, will meet on at o'clock p.m. in the New <br />Brighton City Hall, 803 Fifth Avenue N.W., in New Brighton, Minnesota, for the <br />purpose of conducting a public hearing on a proposal that the City issue revenue <br />bonds, under the Municipal Industrial Development Act, Minnesota Statutes, <br />Chapter 474, as amended (the Act), in order to finance a portion of the cost of <br />a project within the meaning of the Act. The proposed project will generally <br />consist of the construction of a building to be used primarily as a light <br />manufacturing facility, located at 475 Eighth Avenue N.W., New Brighton, Minnesota. <br />The facility will be owned by Micom Corporation, a Minnesota corporation, which has <br />made the proposal. The estimated principal amount of bonds or other obligations ' <br />to be issued to finance the project is $445,000. The bonds or other obligations <br />shall be limited obligations of the City and the principal of and interest thereon, <br />shall be payable solely from the revenues of the Project pledged to the payment <br />thereof. The payment of bonds may be secured by a mortgage and other security <br />interests in the Project properties. No holder of any such bonds shall have the <br />right to compel any excerise of the taxing power of the City to pay the bonds or <br />the interest thereon, nor to enforce payment against any property of the City. <br /> <br />A draft copy of the proposed application to the Minnesota Commissioner <br />of Securities for approval of the project, together with all attachments and <br />exhibits thereto, is available for public inspection in the City Clerk's office <br />in the New Brighton City Hall, 803 Fifth Avenue N.W., New Brighton, Minnesota, on <br />business days between the hours 8:00 a.m. and 4:30 p.m. <br /> <br />All persons interested may appear at the public hearing and express their <br />views with respect to the proposal to undertake and finance the project. <br /> <br />Dated November 4, 1980 <br /> <br />By Order of the City Council <br /> <br />City Clerk <br />