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R-81- 34 <br />RESOLUTION <br />CITY OF LAKE ELMO <br />WASHINGTON COUNTY, MINNESOTA <br />A RESOLUTION GIVING PRELIMINARY APPROVAL TO A PROJECT <br />UNDER THE MUNICIPAL INDUSTRIAL DEVELOPMENT ACT; <br />REFERRING THE PROPOSAL TO THE COMMISSIONER OF <br />SECURITIES FOR APPROVAL; AND AUTHORIZING PREPARATION <br />OF NECESSARY DOCUMENTS. <br />BE IT RESOLVED by the City Council of the City of Lake <br />Elmo, Minnesota, as follows: <br />Section 1. Recitals and Findi <br />1.1 This Council has received a proposal that the <br />Municipality finance a portion or all of the cost of a <br />proposed project under Minnesota Statutes, Chapter 474 (the <br />Act), consisting of the acquisition of land and the construction <br />and equipment thereon of a facility to be used as business <br />offices and leased by the owners to various business enter- <br />prises for that purpose. <br />1.2 At a public hearing, duly noticed and held on <br />May 5, 1981, in accordance with the Act, on the proposal to <br />undertake and finance the Project, all parties who appeared <br />at the hearing were given an opportunity to express their views <br />with respect to the proposal to undertake and finance the <br />Project. Based on such hearing and such other facts and <br />circumstances as this Council deems relevant, this Council hereby <br />finds, determines and declares as follows: <br />(a) The welfare of the State of Minnesota requires active <br />promotion, attraction,"encouragement and development <br />of economically sound industry and commerce through <br />governmental acts to prevent, so far as possible, <br />emergence of blighted lands and areas of chronic <br />unemployment, and the State has encourage local <br />government units to act to prevent such economic <br />deterioration. <br />(b) The Project would further the general purposes <br />contemplated and described in Section 474.01 of <br />the Act. <br />