12-22-1982 Additions - Laserfiche WebLink

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4. This Council by action taken on February 24, 1982 gave preliminary approval to the proposal and on or about November 23, 1982 the Commissioner of Energy, Planning and Economic Development of the State of Minnesota gave approval to the Project as tending to further the purposes and policies of the Act. 5. Pursuant to the preliminary approval of the Council, forms of the following documents have been submitted to the Council for approval: (a) The Loan Agreement. (b) The Indenture. (c) The Mortgage. (d) The Assignment of Leases and Rents. 6. It is hereby found, determined and declared that: (a) the Project described in the Loan Agreement and Indenture referred to above constitutes a Project authorized by the Act; (b) the purpose of the Project is and the effect thereof will be to promote the public welfare by the acquisition, construction and equipping of a building for use as a multi- tenant rentail facility. (c) the Project is located within the City limits, at a site which is easily accessible to employees residing within the City and the surrounding communities; (d) the acquisition, construction and installation of the Project, the issuance and sale of the Bonds, the execution and delivery by the City of the Loan Agreement, and the Indenture, and the performance of all covenants and agreements of the City contained in the Loan Agreement, and Indenture and of all other acts and things required under the constitution and laws of the State of Minnesota to make the Loan Agreement, Indenture and Bonds valid and binding obligations of the City in accordance with their terms, are authorized by the Act;