HomeMy WebLinkAboutResolution No. 03-01 EDALINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 03-01
RESOLUTION ADOPTING REVISED BUSINESS SUBSIDY CRITERIA
WHEREAS, Minnesota Statutes, Sections 116J.993 through 116J.995 called the Business
Subsidy Act (the "Act") which became effective on August 1, 1999, required the
adoption of criteria for the granting of business subsidies as defined in the Statutes; and
WHEREAS, the Economic Development Authority of the City of Lino Lakes (the
"Authority") adopted Business Subsidy Criteria on November 8, 1999;
WHEREAS, requirements of the Act were amended by the Minnesota Legislature in
2000, with an effective date of 2003;
WHEREAS, The Authority has determined that it is necessary and appropriate to adopt
revised business subsidy criteria pursuant to the amended Statutes; and
WHEREAS, The Authority has performed all actions required by law to be performed
prior to the adoption and approval of the proposed revised business subsidy criteria,
including the holding of a public hearing upon published notice as required by law on
June 23, 2003.
NOW, THEREFORE, BE IT RESOLVED by the Economic Development Authority of
the City of Lino Lakes, Minnesota, that the revised business subsidy criteria, contained in
Exhibit A of this resolution are hereby approved, ratified, established, and adopted and
shall be placed on file at the City Hall.
Dated: June 23, 2003
President
ATTEST:
Executive Director