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<br />" <br /> <br />The Council believes that a substantial percentage of <br />that additional payroll will be spent on housing, food <br />and other goods and services in the Ci ty, thus bene- <br />fiting the local housing industry and local merchants. <br /> <br />6. The Council has reviewed the proposed Project <br />and believes that the Project, when completed, will be <br />compatible with present and projected development in its <br />area. <br /> <br />7. Nothing has come to the attention of the Coun- <br />cil to indicate that the proposed financing of the Proj- <br />ect by the City would adversely and unfairly affect any <br />other business enterprise located in the City. <br /> <br />8. The City will require that the Company comply <br />with the requirements of Minnesota Statutes, Section <br />474.01, Subdivision 11. <br /> <br />9. Based on representations made by the Company, <br />the Project does not include any property to be sold or <br />affixed to or consumed in the production of property for <br />sale and does not include any housing facility to be <br />rented or used as a permanent residence. <br /> <br />10. Upon entering into a revenue agreement re- <br />specting the Bonds, the City will submit or cause to be <br />submitted to the Minnesota Department of Energy and <br />Economic Development the information required by Minne- <br />sota Statutes, Section 474.01, Subdivision 8. <br /> <br />11. A public hearing was conducted, in connection <br />with the Council's consideration of the Project, on July <br />8, 1986, at the City Hall, 803 5th Avenue NW, at a <br />meeting of the Council which began at approximately 7:30 <br />o'clock, p.m., C.T., at which all interested parties <br />were afforded an opportunity to express their views. <br /> <br />~~:::: <br />May' <br />New Brig ton, Minnesota <br /> <br />Dated: <br /> <br />July 8, 1986. <br /> <br />- 2 - <br />