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~ '; '. t I 1, r. .... ;/ ," 1;. w ~ .: . ..... ,'. BND/newbri123 RESOLUTION NO. 85-130 - RESOLUTION GIVING PRELIMINARY APPROVAL TO A PROPOSED INDUSTRIAL DEVELOPMENT REVENUE BOND PROJECT BE IT RESOLVED by the City Council (the "Council") of the City of New Brighton, Minnesota (the "City"), as fol- lows: 1. It is hereby found, determined and declared as follows: 1.1. The welfare of the State of Minnesota (the "State") requires active promotion, attraction, encour- agement and development of economically sound industry and COITUllerce through governmental acts to prevent, so far as possible, emergence of blighted lands and areas of chronic unemployment, and it is the policy of the State to facilitate and encourage action by local gov- ernment units to prevent the economic deterioration of such areas to the point where the process can be re- versed only by total redevelopment through the use of local, state and federal funds derived from taxation, with the attendant necessity of relocating displaced persons and of duplicating public services in other areas. 1.2. Technological change has caused a shift to a significant degree in the area of opportunity for edu- cated youth to processing, transporting, marketing, service and other industr ies, and unless existing and related industries are retained and new industries are developed to use the available resources of the City, a large part of the existing investment of the cOITUllunity and of the State as a whole in educational and public service facilities will be lost, and the movement of talented, educated personnel of mature age to areas where their services may be effectively used and com- pensated and the lessening attraction of persons and businesses from other areas for purposes of industry, commerce and tourism will deprive the City and the State of the economic and human resources needed as a base for providing governmental services and facilities for the remaining population. 1.3. The increase in the amount and cost of govern- mental services requires the need for more intensive development and use of land to provide an adequate tax base to finance these costs.