(July 5, 2019)
NOTICE OF PUBLIC HEARING
ON THE ADOPTION OF AN ORDINANCE
NOTICE IS HEREBY GIVEN by the City Council of the City of Willmar, Minnesota, that the City Council will conduct a public hearing on and consider adoption of the Ordinance described below at the Kandiyohi County Health and Human Services Building Board Room in the City of Willmar, Minnesota, at 7:01 o'clock p.m. on the 15th day of July, 2019 said proposed Ordinance is as follows:
AN ORDINANCE AUTHORIZING THE ISSUANCE OF $4,740,000 GENERAL OBLIGATION IMPROVEMENT BONDS, SERIES 2019A AND THE LEVYING OF TAXES TO SECURE PAYMENT THEREFOR.
The City of Willmar hereby ordains:
1. In accordance with Minnesota Statutes, Chapter 429, the City of Willmar has heretofore determined to construct the following improvements:
Total Cost Amount to be
Financed Amount to be
$6,252,865 $4,740,000 $1,718,990
2. In order to finance said improvements it is necessary to issue General Obligation Improvement Bonds of the City in the amount of $4,740,000.
3. For the purposes of complying with Minnesota Statutes, Section 475.61, there will be levied a direct ad valorem tax upon all taxable property in the municipality in such amounts as are required by law to secure payment of said Bonds.
4. This Ordinance is adopted in order to authorize the borrowing of money and the issuance of General Obligation Improvement Bonds and the levying of taxes therefor as provided in Section 2.12 of the City Charter. Further details shall be set forth by resolution.
Such persons as desire to be heard with reference to the proposed Ordinance will be heard at this hearing.
By Order of the City Council