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' inc. <br />Becker Brothers, Inc.)/ 15 Old Highway 8 / New Brighton, Minnesota 55112 / 633-8604 <br />- MASTER CARPET CRAFTSMEN - <br />July 9, 1981 <br />Mr. Jim Winkels <br />Director of Community Development <br />City of New Brighton <br />803 - 5 Avenue NW <br />New Brighton, MN 55112 <br />Dear Jim <br />RE: Resolution 2168 <br />Tax Exempt Mortgage Financing Policies <br />The general objective of the Resolution is stated as follows: <br />WHEREAS the Legislature has stated that the intent of <br />the Municipal Industrial Development Act is to promote, <br />attract and encourage economically sound industrial and <br />commercial development in order to: <br />1. .Discourage emergence of blight and marginal lands; <br />2. Prevent or alleviate chronic unemployment; <br />3. Preserve community and state investments in educa- <br />tional and public service facilities, and <br />4. Encourage more intensive development and use of land <br />to provide an adequate tax base to finance the costs <br />of public service, and <br />WHEREAS the City Council for New Brighton wishes to <br />preserve and expand the quality of commercial and <br />industrial development and their associated benefits <br />in the City, and the City is aware that Industrial/ <br />Commercial Revenue Bond financing may be beneficial to <br />the City when used for certain purposes. <br />NOW THEREFORE BE IT RESOLVED by the City Council of the <br />• City of New Brighton, Minnesota, That the following <br />guidelines be utilized when considering a request for <br />issuance of Municipal Industrial Development Bonds.