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• <br />• <br />• <br />WHEREAS, under the Abatement Act and the Business Subsidy Act, the City must hold a <br />public hearing regarding approval of any abatement and any business subsidy; and <br />WHEREAS, the City Council has determined to hold the required public hearings and <br />consider the terms of the abatement and the business subsidy agreement. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino Lakes, <br />that: <br />1. The Council directs staff and consultants to prepare or finalize an abatement <br />resolution and related business subsidy agreement for the Facility and the Abatement Bonds. <br />2. The City Administrator is authorized and directed to publish a notice in the City's <br />official newspaper announcing a public hearing before the City Council on July 25, 2005 at 6:30 <br />p.m. in the council chambers on the abatement resolution and the business subsidy agreement. The <br />notice shall be published in the newspaper at least 10 days but not more than 30 days prior to the <br />public hearing, and shall be in substantially the form attached as Exhibit A to this resolution. <br />Approved by the City Council of the City of Lino Lakes this 27th day of June, 2005. <br />ATTEST: <br />City Clerk <br />SJB- 264291v1 <br />LN 140 -90 <br />OrL, <br />Mayor <br />-93- <br />