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Preliminary Order setting the date of City Council public hearing for June 17, 2020 to consider approval of the Ford Site improvements. (Project No. 19246, Assessment No. 205203)
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In the matter of the 429 improvement project for the Ford site that include paving/curb & gutter, traffic signals/street lighting, trees, vehicle and pedestrian bridges, sidewalks, landscaping/site furnishings, and site utilities.
The Council of the City of Saint Paul, having received the report of the Mayor upon the above improvement and having considered said report, hereby resolves:
1. That the said report and the same is hereby approved with no alternatives, and that the estimated cost thereof is $9,469,342.98, financed by assessments.
2. That a public hearing be had on said improvement on the 17th day of June, 2020, at 3:30 p.m., in the Council Chambers of the City Hall and Court House Building in the City of Saint Paul.
3. That notice of said public hearing be given to the persons and in the manner provided by the Charter, stating the time and place of hearing, the nature of the improvement and the total cost thereof as estimated.
4. The City has a reasonable expectation (within the meaning of Treasury Regulations, U.S. Treasury Regulations, Section 1.150-2) that it will make expenditures for the 429 improvement project. The City has a reasonable expectation that it will issue one or more series of tax-exempt bonds in the estimated maximum principal amount of $9,424,342.98 to finance the 429 improvement project and that the City will make reimbursement allocations with respect to such original expenditures.