MINNEAPOLIS NOTICE OF PUBLIC HEARING ON A PROPOSED PROJECT AND THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS UNDER MINNESOTA STATUTES, SECTIONS 469.152 THROUGH 469.165, AS AMENDED The Community Development and Regulatory Services Committee of the Minneapolis City Council, will meet on Tuesday, January 3, 2017, at 1:30 p.m. in the Council Chambers (Room 317) at City Hall, in Minneapolis, Minnesota (the "City"), for the purpose of conducting a public hearing on a proposal that the City issue its revenue bonds on behalf of Open Access Technology International, Inc., a Minnesota corporation, or an affiliate thereof (the "Company"), in one or more series, under and in accordance with Minnesota Statutes, Sections 469.152 through 469.165, as amended, in order to finance the cost of a project. The project consists of the construction and equipping of a building located at 7901 Computer Avenue South in the City of Bloomington, Minnesota. The facility will be used in the operation of the Company's software solutions business for the energy industry. The total amount of the proposed bond issue is presently estimated to not exceed $30,000,000. The bonds will be limited obligations of the City and the bonds and interest thereon will be payable solely from the revenues and assets to be pledged to the payment thereof. Except as may be authorized by Chapter 424 of the City Code of Ordinances, no holder of such bonds will ever have the right to compel the exercise of any taxing powers for payment of any bonds or the interest thereon, nor to enforce payment against any property of the City except the project and revenues pledged to the payment thereof. Chapter 424 of the City Code of Ordinances permits the City to designate certain series of bonds to be payable in part from moneys collected in a tax reserve fund of the City established under Chapter 424 funded by the collection, under certain circumstances, of ad valorem taxes levied by the City. All persons interested may appear and be heard at the time and place set forth above. A draft copy of the proposed application to the Department of Employment and Economic Development will be available for public inspection at the office of the Department of Community Planning & Economic Development, Crown Roller Mill, Suite 200, 105 Fifth Avenue South, Minneapolis, Minnesota 55401-2534, during regular office hours of 8:00 a.m. to 4:30 p.m. The meeting place is accessible to citizens with limited mobility. A sign language interpreter is available for deaf or hearing impaired citizens (for scheduling please call 612-673-2626 TTY/Voice). For information call Charles Curtis, 612-673-5069.
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