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3. BUSINESS SUBSIDY LAW (MS 116J.993-116J.995). <br /> Any state or local government agency or public entity that provides financial assistance to a business <br /> must comply with this statute. <br /> 4. FIRST SOURCE AGREEMENT (MS 116L.66) <br /> A business that receives grants or loans in an amount greater than$200,000 must agree to list any <br /> vacant or new positions with the MN Department of Employment and Economic Development. <br /> 5. SURETY DEPOSITS REQUIRED FOR CONSTRUCTION CONTRACTS (MS 290.9705) <br /> When a public infrastructure contract exceeds $100,000 and a non-Minnesota construction contractor <br /> has been hired to perform the work, the city must do one of the following: <br /> a. Deposit with the Department of Revenue,8 % of every payment made to the contractor;or <br /> b. Have in its possession a Waiver of Withholding from the Department of Revenue. <br /> 6. GOVERNMENT DATA PRACTICES (MS 13) <br /> Information contained in the application for assistance will become a matter of public record with <br /> the exception of those items protected under the Minnesota Government Data Practices Act. <br /> Forgivable Loan Policy and Application it 1 1 E 1 E 1 1 T <br /> Page 10 of 20 II'LAJUREI <br />