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I <br />Mn peso <br />DEPARTMENT OF ECONOMIC DEVELOPMENT <br />:0 CEDAR STREET <br />• <br />O4' TNf 6 <br />T <br />A <br />ry.N N£S <br />March 29, 1977 <br />The Honorable Donald Valento <br />City Hall <br />515 Little Canada Road <br />Little Canada, Minnesota 55117 <br />Dear Mayor Valento: <br />The Department of Economic Development has examined all matters <br />submitted by you and others for the Schroeder Development Company <br />application for approval of the first Commercial Revenue Bond <br />issue of the City of Little Canada in the amount of $425,000. The <br />proceeds of the issue to be used to construct a 33,000 square foot <br />food market. On the basis of such matters submitted and upon the <br />attached letter of intent from Juran & Moody, Inc. to act as <br />underwriters of this issue, approval of this bond issue is granted <br />by the Department of Economic Development in accordance with <br />statutory requirements. Such approval shall not be deemed an <br />approval by the Commissioner or the State of the feasibility of <br />the project or the terms of the lease to be executed or the bonds to <br />be issued therefore. <br />We would call your attention to our booklet published entitled <br />"Municipal Industrial Development Bonds" in which we state that we <br />require an annual report as to the status of the project. We will <br />be calling upon you one year from now to prepare such a report for <br />this department. <br />SSin <br />in^cerely, <br />,_Wow-^� <br />Lee A. Vann <br />Commissioner <br />LAV/lm <br />cc: Robert R. Sander; Juran & Moody, Inc. Jr J <br />Carl Cummins; Attorney CLERK MEETING , ING -IBTT4-27-77 <br />AN EQUAL OPPORTUNITY EMPLOYER <br />s <br />