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LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY <br />RESOLUTION NO. 03-02 <br />RESOLUTION EXTENDING THE COMPLIANCE DATE FOR THE WAGE AND <br />JOBS GOALS FOR MARMON/KEYSTONE <br />WHEREAS, Marmon/Keystone Corporation (the "Developer") entered into a Contract <br />for Private Development (the "Agreement") with the Lino Lakes Economic Development <br />Authority (the "Authority") on August 17, 2000; <br />WHEREAS, the Business Subsidy Act requirements in the Agreement state that within <br />two years after the issuance of the Certificate of Completion on June 1, 2001 the <br />Developer shall create at least four new full-time equivalent jobs; <br />WHEREAS, the Developer has created two new full-time equivalent jobs by the <br />compliance date of June 1, 2003 and has requested an extension of the compliance date to <br />June 1, 2004; <br />WHEREAS, the Agreement provides that the Authority may, after a public hearing, <br />extend the compliance date by up to one year; <br />NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of <br />the City of Lino Lakes, Minnesota, that the Wage and Job Goal compliance date for <br />Marmon/Keystone has been extended to June 1, 2004. <br />Dated: June 23, 2003 <br />0e5‘./..4, c•c\ <br />President <br />ATTEST: <br />Executive Director <br />