Laserfiche WebLink
• <br />• <br />• <br />1.09. The City has determined that amounts paid from proceeds of the Revenue Bonds <br />do not consitute a business subsidy, under Section 116J.993, Subd. 3(14) of the Business Subsidy <br />Act. <br />1.10. The parties have determined to finalize the financial agreements between them <br />regarding the Facility in part through a business subsidy agreement (the "Subsidy Agreement ") <br />in accordance with the Business Subsidy Act. <br />1.11 On this date, the City Council held a duly notice public hearing regarding the <br />Subsidy Agreement. <br />Section 2. City Approval; Further Proceedinzs. <br />2.01. The Subsidy Agreement as presented to the Council is hereby in all respects <br />approved, subject to modifications that do not alter the substance of the transaction and that are <br />approved by the Mayor and City Administrator, provided that execution of the documents by such <br />officials shall be conclusive evidence of approval. <br />2.02. The Mayor and City Administrator are hereby authorized to execute on behalf of the <br />City the Subsidy Agreement and any documents referenced therein requiring execution by the City, <br />and to carry out, on behalf of the City its obligations thereunder. <br />2005. <br />Approved by the City Council of the City of Lino Lakes, Minnesota this 25th day of July, <br />ATTEST: <br />SJB- 253373v1 <br />LN 140 -80 <br />2 <br />-32- <br />