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<br />I <br /> <br />I <br /> <br />I <br /> <br />City of New Brighton <br />October 26, 1982 <br /> <br />Hation by Blomquist, seconded by Schmidt to <br /><l!)prove appl iCJ lion for a bui Iding permi t LP-l32 <br />tiubject to conformance with SP-l07 and subject to <br />approval of the Rice Creek Watershed District. <br />4 ayes - 0 nayes - I abstention (Janecek) - motion carried <br /> <br />Mr. Casserly reviewed the application for industrial <br />develol)ment revenue bond. <br /> <br />CouncilmBmber Janecek questioned what the equipment <br />would be tlldt is proposed to be funded by the <br />industrial development revenue bond. <br /> <br />Councilmember Schmidt stated that he could see <br />no problem with allowing the equipment to be funded <br />with this privately placed industrial development <br />revenue bond mortgage as the responsibility lies <br />with the bank and not with a publicly sold bond. <br /> <br />The City Council discussed past practice regarding <br />industrial development revenue bonds and policies <br />regarding equipment. <br /> <br />f1otion by Barcus, seconded by Schmidt to waive the <br />reading and adopt a RESOLUTION GIVING PRELIMINARY <br />APPJWVAL '1'0 A PROJEC'l' UNDER 'rllE MUNICIPAL INDUS~'RIAL <br />UEVEI,OPMEWl' ACT, REFERRING THE PROPOSAL '1'0 THE <br />COMMISSIONER OF ENERGY, PLANNING AND DEVELOPMENT <br />FOR l\PI'HOVl\L, AND AUTHORI ZING PREPARA'rrON OF <br />NECESSARY DOCUMENTS. <br />4 ayes - 0 nayes - 1 abstention (Janecek) - motion carried <br /> <br />Motion by Benke, seconded by Blomquist to direct <br />staff to pInce the issue of industrial development <br />revenue bond financing and equipment purchases on <br />the next City Council agenda for discussion. <br />S ayes - 0 nayes - motion carried <br /> <br />Motion by Benke, seconded by Schmidt to waive <br />the reading and adopt a RESOLUTION AUTIIOIUZING <br />EXECUTION OF PURCHASE AGREEMENT WITH VIOLET <br />L. ROESER SUBJECT TO CERTAIN CONDITIONS: <br /> <br />Purchase Agreement <br /> <br />1) The execution of a development agreement with <br />SR Building Company; <br />2) Execution of an assessment agreement by SR <br />Building Company; and <br />:\) Sublect to appr-oval of the Rice Creek vJatershed <br />District for ponding and drainage. <br /> <br />4 ayes - 0 nayes - 1 abstention (Jan~cek) - motion carried <br /> <br />-10- <br />