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<br />-> <br />. . <br /> <br />, ' <br /> <br />., <br /> <br />MAYOR'S STATEMENT CONCERNING A PROPOSED PROJECT <br />UNDER.MINNESOTA.STATUTES, CHAPTER 474 <br /> <br />The undersigned, being the duly qualified and acting <br />Mayor of the City of New Brighton, Rqmsey County, Minnesota <br />(the "Ci ty"), certifies that the Ci ty Council of the Ci ty <br />(the "Council") has been provided by SR Building Company, a <br />Minnesota general partnership to be formed (the "Company"), <br />with certain information concerning a proposed Project under <br />the Minnesota Municipal Industrial Development Act, <br />Minnesota Statutes, Chapter 474. On the basis of such <br />information, the Council by resolution adopted on Octo- <br />ber 26, 1982 (the "Preliminary Resolution"), has given pre- <br />liminary approval to the proposed Project and the financing <br />thereof by the issuance of a revenuej obligation or obliga- <br />tions of the City. The following are factors considered by <br />the Council in determining to give preliminary approval to <br />said project: <br /> <br />1. The project consists generally of the acquisi- <br />tion and construction of a building on land wi thin the <br />Ci ty and the acquisi tion and installation of equipment <br />therefor to be used as a medical center and related <br />facilities. <br /> <br />2. O'Connor & Hannan, as bond counsel, is of the <br />opinion that the Project constitutes a "project" within <br />the meaning of Minnesota Statutes,..Section 414.02, Sub- <br />division la. - <br /> <br />3. Based on an estimated total cost of acquisi- <br />t,ion, construction and installation of approximatety <br />$1,700,000, it is the opinion of the Council that the <br />Project, when completed, will add significantly to the <br />commercial and industrial tax ba$e of the Ci ty and the <br />County and School District in which the City is located. <br /> <br />4. Representatives of the Company estimate that, <br />as a result of the acquisition, construction and instal- <br />lation of the Project, the Company will employ approxi- <br />mately twenty-five (25) or more persons in addition to <br />those currently employed by the Company, in the City and <br />the surrounding area. The Council is concerned about <br />the level of unemployment in the City and surrounding <br />area and the resulting movement of persons to other <br />areas where jobs are more plentiful and believes that <br />the existence of the Project in the Ci ty would help <br />allieviate those problems. <br /> <br />5. Representatives of the Company estimate that <br />the acquisi tion, construction and installation of the <br />Project will result in an additional payroll of approxi- <br />