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STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF LITTLE CANADA <br />Resolution No. <br />RESOLUTION RECITING A PROPOSAL FOR A <br />OFFICE WAREHOUSE DEVELOPMENT <br />PROJECT AND GIVING PRELIMINARY <br />APPROVAL TO THE PROJECT PURSUANT TO MINNESOTA <br />STATUTES AND AUTHORIZING THE SUBMISSION OF <br />AN APPLICATION FOR APPROVAL OF SAID <br />PROJECT TO THE COMMISSIONER OF SECURITIES <br />OF THE STATE OF MINNESOTA AND AUTHORIZING <br />THE PREPARATION OF NECESSARY DOCUMENTS AND <br />RELATED MATTERS IN CONNECTION WITH SAID <br />PROJECT <br />WHEREAS, <br />(a) The request of E. M. Delonais and others (here- <br />inafter "Applicants ") for assistance in financing its office <br />and warehouse facility, proposed to be leased to Gopher <br />Electronics Co. , a Minnesota corporation, (hereinafter <br />"Project ") warrants the support of the City of Little Canada, <br />because (i) the City has an interest in the promotion of <br />warehouse and office facilities within its limits; (ii) <br />additional job opportunities will be generated by the Project; <br />(iii) the City's tax base will be improved, and (iv) assistance <br />in financing of such endeavors is commonly accommodated by <br />Minnesota municipalities. <br />(b) The Applicants may become partners in a <br />partnership (the "Partnership ") existing under the laws of the <br />state of Minnesota; which Partnership, if created, shall be the <br />developer of the Project herein described. <br />(c) The purpose of Chapter 474, Minnesota Statutes, <br />known as the Minnesota Municipal Industrial Development Act <br />(hereinafter called "Act ") as found and determined by the <br />legislature is to promote the welfare of the state by the <br />active attraction, encouragement and development of <br />economically sound development proposals. <br />6'7 <br />