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.,... ... Resolution No. 84-169 A RESOLUTION OF THE CITY COUNCIL OF NEW BRIGHTON, RAMSEY COUNTY, MiNNESOTA, AUTHORIZING THE ISSUANCE OF $5,500,000 AGGREGATE PRINCIPAL AMOUNT CITY OF NEW BRIGHTON, MINNESOTA, VARIABLE RATE DE~~ND INDUSTRIAL DEVELOPMENT REVENUE BONDS (UNICARE HOMES, INC. PROJECT) SERIES 1984. WHEREAS, the Municipal Industrial Development Act, Min- nesota Statutes, Chapter 474, as amended (the "Act"), de- clares that the welfare of the State of Minnesota (the "State") requires active promotion, attraction, encourage- ment and development of economically sound industry and commerce through governmental action to prevent, so far as possible, emergence of blighted lands and areas of chronic unemployment, and it is the policy of the State to facili- tate and encourage action by local government units to pre- vent the economic deterioration of such areas to the point where the process can be reversed only by total redevelop- ment through the use of local, state and federal funds de- rived from taxation with the attendant necessity of relo- cating displaced persons and of duplicating public services in other areas~ and WHEREAS, the Act further finds and declares that such governmental action is required by technological change that has caused a shift to a significant degree in the area of opportunity for educated youth to processing, transporting, marketing, service and other industries, and unless existing and related industries are retained and new industries are developed to use the available resources in each community, a large part of the existing investment of the community and of the State as a whole in educational and public service facilities will be lost, and the movement of talented, edu- cated personnel of mature age to areas where their services may be effectively used and compensated and the lessening attraction of persons and businesses from other areas for