RES 08-049 - Laserfiche WebLink

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and at such h~~h costs of h~rro~~ that the ec~no~nic easi~~~~ty of a e~at~n~ the ~~o`ect ~vcu~d ~ r s~~~.cant~y reduced; ~~~ o puh~c o~cia.~ o~ ~ City has ether a direct ar indirect ~~nanc~a~ interest ~ ~e ~ro~ ect nor ~ri~i ~ pnhiic oac~ai either di~ect~y or ~ndirectiy benef t ~`~~~. ~o ~ Project. ~,~R~~'~,Ex ~~ ~~` ~~~~~ by the City Council afthe City o~~ River i~esota~ as oios: ' ~. "i'he Council hereby indicates its preiir~inary intent to nnderta~e ~.~ ~~a'ect .~ pursuant to the .ct and to issue the Revenue Bonds in ~, appxoin~ate p~cz , an~onnt of ~a,Daa aa0 p~rs~ar~t to the pct to fiance ~ Project. ?. ~n e basis off' info nation ava~iahle to the a~.ncii it appears, and the Council hereby finds, that the P~o~ ect constitutes propeies, read and ersana~, used ar used zn connection ~~, one or .ore revenue producing enterprises ~rith~ the .ear~n~ ai* Subdivision ?~a~ a~ Section ~~. ~ o~ ~e pct; that the Project hers ~e purposes stated ~innesata Statutes, Section 4~~. ~; that ~e avaiiaiity o the i"~nar~c~.n~ under the .ct and iiin~ness off' e City to ~uxnish such ~~na~ncin ~ be a substantial ~nducernent to the Cans an ~o undea~e the P ~ ~ ~ ro~ect, and fat e effect ofthc ~'ro~ect, ~'u~ndert~.~en, .ii be to encorae the deveio n~ent of econo~caiiy ~ou.nd industry and cornrn.erce, to assist in the prevention of ~, en~erQence o bii~hted and n~a~~~ai land; to help prevent cyanic unen~pioy.ent, to hei ~e Ci retain ~.d ~rnprave ~e tai base and to provide the range of service and en~pioyn~.ent o~pa~tn,ities re aired ~~ the population, to help prevent die n~aven~ent o talented ar~d educated erson out of the tats ~ and to areas ~rzt~n ~, State v~here their services may not be as e~'ectivei ~ used, to pra~nate rare intensive deveiaprnent and use of land within the Cif and. eventr.~aily to increase e tai base a` the con~n.unity. ~ . ~`he issuance of the Revenue Bards by the City is u.~ j ec~ ~a, ar~.an~ ae~ ~n~s, ~a~ ~e hc~id~~ a a p~biic heari.n~ an the proposal, ~b~ the app~ovai of ~e Pro'ect b the Ci ~ and ~ ~ ` the innesota epaent of ~rnpiayrnent and ~car~anc Deveiap,ent, ~c revie~t end a rovai ~ ~ of the proposed Pra~ect b Bond Counsel, ~d~ "~nai approve. by this Council. the Corn anv, and ~ ~. the purchaser o~ the Revenue Bonds as to the uitirn.ate details o~ the nancin~ o the Pro'ect and .~ ~e~ receipt off` ederai boz~din~ aiiocation for the Revenue B~ndsr ~, the Cornpany has agreed and it is hereby deter~,ned that any and ail casts ~ncurxed by the Cite, ~nciudin~ ail fees required by e City's ad~nin~strative oi~cies, in cannect~on v~i~ ~e f.ancin~ o~ the ~ro~ ect hexer or not the Prod ect is carved to cony ietian and whethex ar not approved by the City ~.~~ be paid by Canapany. ~, Nothing . this resolution ar the dacun~ents prepared pursuant hereto sh.i authorise the epeud~ture o any n~un~cipai funds on the Project other than e revenues dewed one e Prod ect or othe~~iseranted to e Czty fog this purpose, the Re~~enue Bands shall not co~astitute a charge. lien o~ encurn~b~ance, legal or e~r~itable, t~pan any pro e ar finds o the p ~' City except the revenue and proceeds p~ed~ed to e payment thereof`, nor shall ~e Ci be . ' suh~ ect to any lxabzlity ~.ereon, ~'he holder of ~e Revenue Bands shah never have the ~ht to