Resolution 2174 - Laserfiche WebLink

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.. . . "F- I . " to prevent, so far as possible, the emergence of blighted and . marginal lands and areas of chronic unemployment; the development of industry to use the available resources of the community, in order to retain the benefit of its existing investment in edu- cational and public service facilities, by halting the movement of talented, educated personnel of mature age to other areas and thus preserving the economic and human resources needed as a base for providing governmental services and facilities; and the more intensive development of land available in the area to provide an adequate tax base to finance the increase in the amount and cost of governmental services provided by the City, the County and the School District in which the City is located. 3. The Project is hereby given preliminary approval by the City, subject to (i) approval of the Project by the Minnesota Commissioner of Securities and (ii) approval of this Council, the Developer and an institutional investor or investors of the ultimate details of the Project and the terms of the tax exempt mortgage transaction. 4. The Mayor, City Manager and City Clerk are hereby authorized to submit to the Commissioner of Securities an Appli- cation for Approval of the Project, together with the letter of intent, a statement of public purpose and a preliminary opinion of bond counsel necessary to complete such Application. The Mayor, City Manager and City Clerk and other officers, employees and agents of the City are hereby authorized to provide the Commissioner with such additional preliminary information as he may request. 5. The Developer has agreed to pay any and all costs incurred by the City in connection with the Project whether or not the Project is approved by the Commissioner and whether or not the Project is carried to completion. Attest: !J YJ~~~ J n, "~-1_ City Clerk -3-