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LINO LAKES CITY COUNCIL <br />RESOLUTION NO. 03 -93 <br />RESOLUTION ADOPTING REVISED BUSINESS SUBSIDY CRITERIA <br />WHEREAS, Minnesota Statutes, Sections 116J.993 through 116J.995 called the Business <br />Subsidy Act (the "Act ") which became effective on August 1, 1999, required the <br />adoption of criteria for the granting of business subsidies as defined in the Statutes; and <br />WHEREAS, requirements of the Act were amended in 2000, with an effective date of <br />2003; <br />WHEREAS, The City Council of the City of Lino Lakes (the "City ") adopted Business <br />Subsidy Criteria after a public hearing held on July 23, 2001; <br />WHEREAS, The City has determined that it is necessary and appropriate to adopt revised <br />business subsidy criteria pursuant to the Statutes; and <br />WHEREAS, The City has performed all actions required by law to be performed prior to <br />the adoption and approval of the proposed business subsidy criteria, including the holding . <br />of a public hearing upon published notice as required by law on June 23, 2003. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Lino Lakes, <br />Minnesota, that the business subsidy criteria, contained in Exhibit A of this resolution are <br />hereby approved, ratified, established, and adopted and shall be placed on file at the City <br />Hall. <br />Dated: June 23, 2003 <br />Mayor <br />ATTEST: <br />City Clerk <br />