HomeMy WebLinkAboutResolution No. 99-02 EDAMember Bergeson introduced the following resolution and moved its adoption:
LINO LAKES ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 99-02
RESOLUTION ESTABLISHING PUBLIC HEARING FOR A PROPOSED BUSINESS
SUBSIDY
WHEREAS, the Lino Lakes Economic Development Authority (the "EDA") established Tax
Increment Financing District No. 1-9 ("TIF District No. 1-9") and adopted a tax increment
financing plan (the "TIF Plan") on December 14, 1998; and
WHEREAS, the EDA intends to authorize financial assistance to H&L Mesabi, Inc.; and
WHEREAS, the financial assistance the EDA intends to offer to H&L Mesabi, Inc., is in
an amount exceeding $100,000; and
WHEREAS, Minnesota Statutes, Sections 116J.993 -116J.995 entitled Business Subsidies
require a local government grantor to provide public notice and a hearing on a subsidy exceeding
$100,000.
NOW, THEREFORE BE IT RESOLVED by the Lino Lakes Economic Development
Authority as follows:
1. A public hearing shall be held at 6:00 p.m. on the 13th day of December, 1999 in order
to consider granting a public subsidy to H&L Mesabi, Inc.
2. The executive director is hereby authorized and directed to cause notice of the public
hearing to be published in the official newspaper at least 10 days but not more than 20
days prior to the hearing.
3. Staff is authorized and directed to take all actions necessary and appropriate in order to
bring this item before the EDA at its meeting on the 13th day of December, 1999.
Dated: Monday, November 8, 1999
ATTEST:
Linda Waite Smith, Executive Director
The motion for the adoption of the foregoing resolution was duly seconded by member
Neal
and upon vote being taken thereon, the following voted in favor thereof
Bergeson, Neal, Dahl, Lyden, Sullivan
and the following voted against same:
Whereupon said resolution was declared duly passed and adopted.