11-14-2007 Council Agenda - Laserfiche WebLink

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It is presently estimated that construction began on or about January, 2001 and was completed on or about July, 2002. When completed, there were approximately 4 new jobs created by the project at an annual payroll of approximately S 131,000 based upon currently prevailing wages. There were 28 existing jobs provided by business. (If applicable) There were 80 jobs created by construction of the project. Number of hours 93,600. Average wage level $38.00 per hour. Repayment of the proposed issue will be amortized over a period of 20 years. The following exhibits are furnished with this application and are incorporated herein by reference: 1. An opinion of bond counsel that the proposal constitutes a project under Minn. Stat. § 469.153, subd. 2. 2. A copy of the resolution by the governing body of the issuer giving preliminary approval for the issuance of its revenue bonds and stating that the project, except for a project under Minn. Stat. § 469.153, subd. 2(g) or (j) would not be undertaken but for the availability of Industrial Development Bond financing. 3. A comprehensive statement by the municipality indicating how the project satisfies the public or purpose and policies of Minn. Stat.§ 469.152 - 469.165. 4. A letter of intent to purchase the bond issue or a letter confirming the feasibility of the project from a financial standpoint. 5. A statement signed by the principal representative of the issuing authority to the effect that upon entering into the revenue agreement, the information required by Minn. Stat. § 469.154, subd. 5 will be submitted to the Department (not applicable to projects under Minn. Stat. § 469.153, subd. 2(g) or (j). 6. A statement signed by the principal representative of the issuing authority that the project does not include any property to be sold or affixed to or consumed in the production of property for sale, and does not include any housing facility to be rented or used as a permanent residence. 7. A statement signed by a representative of the issuing authority that a public hearing was conducted pursuant to Minn. Stat. § 469.154, subd. 4. The statement shall include the date, time and place of the meeting and certify that a draft copy of this application with all attachments was available for public inspection and that al interested parties were afforded an opportunity to express their views. 8. Copies of notice(s) as published which indicate the date(s) of publication and the newspaper(s) in which the notice(s) were published. 9. Provide a plan for compliance of employment preference of economically disadvantaged or unemployed individuals. (See Minn. Stat. § 469.154, subd. 7.) 2098318v1 9 8