HomeMy WebLinkAbout6.A. Public Hearing for Issuance of Solid Waste Revenue Bonds for Recovery Technology Solutions Shakopee (RTS), LLC(F) Public Hearings 6 A
SHAKOPEE A.
TO: Mayor and City Council
Mark McNeill, City Administrator
FROM: Samantha DiMaggio, Economic Development Coordinator
DATE: 10/01/2013
SUBJECT: Public Hearing for Issuance of Solid Waste Revenue Bonds for Recovery Technology
Solutions Shakopee (RTS), LLC (F)
Action Sought
To re-open, and then close the Public Hearing for Recovery Technology Solutions Shakopee,
LLC. This relates to the issuance of Solid Waste Revenue Bonds by the City on behalf of RTS.
Background
A public hearing to consider the issuance of Solid Waste Revenue Bonds to Recovery Technology
Solutions Shakopee, LLC was originally scheduled for September 3, 2013. At that time, the
hearing was continued to October 1, 2013. At the request of the company, staff is
recommending that Council re-open and then close the public hearing--RTS has informed the
City that negotiations on the terms of the bonds are continuing, but that no date is certain for the
subject to be ready for discussion. Therefore, once a date has been determined, there will need to
be a re-publication of the notice for the public hearing once the details of the terms and structure
of the bonds, and the bond documents, have been finalized.
Recommendation
Staff recommends that the Public Hearing be re-opened, and then closed. While testimony may
be taken, no action is asked of the Council. other than to close the hearing.
Budget Impact
No impact.
Relationship to Vision
This is a housekeeping item (F).
Requested Action
The City Council is asked to re-open the Public Hearing to consider the issuance of Solid Waste
Revenue (conduit) Bonds on behalf of Recovery Technology Solutions Shakopee, LLC, and then
close the hearing.
Attachments: