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83-101
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83-101
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<br />! ' <br /> <br />. <br />" <br /> <br />~ ;.:'(, <br /> <br />CITY COUNCIL <br />OF THE <br />CITY OF NEW BRIGHTON, MINNESOTA <br /> <br />Resolution No. 83-l0I <br /> <br />A RESOLUTION OF THE CITY OF NEW BRIGHTON, RAMSEY <br />COUNTY, MINNESOTA, AUTHORIZING THE ISSUANCE OF <br />$1,850 ,000 AGGREGATE PRINCIPAL AMOUNT CITY OF NEW <br />BRIGHTON, MINNESOTA, COMMERCIAL DEVELOPMENT REVENUE <br />BONDS (NEW BRIGHTON VENTURE I PROJECT), DATED AS OF <br />SEPTEMBER 1, 1983, AND APPROVING THE FORM AND <br />AUTHORIZING THE EXECUTION OF NECESSARY DOCUMENTS. <br /> <br />WHEREAS, the Municipal Industrial Development Act, as <br />amended and supplemented, consti tuting Minnesota Statutes, <br />Chapter 474 (the "Act"), finds, declares and provides that <br />the welfare of the State of Minnesota (the "State") requires <br />active promotion, attraction, encouragement and development <br />of economically sound industry and commerce through govern- <br />mental action to prevent, so far as possible, emergence of <br />blighted lands and areas of chronic unemployment, and it is <br />the policy of the State to facilitate and encourage action <br />by local government units to prevent the economic deteriora- <br />tion of such areas to the point where the process can be <br />reversed only by total redevelopment through the use of <br />local, state and federal funds derived from taxation with <br />the attendant necessity of relocating displaced persons and <br />of duplicating public services in other areas; and <br /> <br />WHEREAS, the Act further finds and declares that such <br />governmental action is required by technological change that <br />has caused a shift to a significant degree in the area of <br />opportunity for educated youth to processinq, transporting, <br />marketinq, service and other industries, and unless existing <br />and related inoustries are retained and new industries are <br />developeo to use the available resources in each community, <br />a large part of the existing investment of the community and <br />of the State as a whole in educational and public service <br />facilities will be lost, and the movement of talentedr edu- <br />
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