Laserfiche WebLink
RESOLUTION NO. 1847 <br /> CITY OF MOUNDS VIEW <br /> COUNTY OF RAMSEY <br /> 1111 <br /> STATE OF MINNESOTA <br /> RESOLUTION REPEALING RESOLUTION NO. 1125 AND SETTING GUIDE- <br /> LINES FOR THE ISSUANCE OF TAX EXEMPT INDUSTRIAL DEVELOPMENT <br /> BONDS OR LOANS BY THE CITY <br /> WHEREAS , Minnesota Statutes permit the issuance of <br /> tax exempt industrial development loans and bonds ( IDB ' s ) in <br /> cases where construction of new facilities will increase a <br /> community ' s tax base , relieve unemployment , eliminate blight <br /> or threat of blight and provide a needed product or service , <br /> and <br /> WHEREAS, in some cases the City might not be able to <br /> -attract or retain a desireable business or industry unless <br /> the City makes tax free financing available , and <br /> WHEREAS , other states and other communities have made <br /> and are making use of tax exempt financing to attract <br /> industrial development , and <br /> WHEREAS , the City welcomes industrial and commercial <br /> development , and <br /> WHEREAS, persons and firms seek a general framework <br /> within which they may be guided in requesting tax free <br /> financing; and <br /> WHEREAS , Resolution No . 1125 adopted on July 14 , 1980 <br /> set guidelines for the issuance of tax exempt industrial <br /> bonds or loans by the City ; and <br /> WHEREAS , it is the desire of the City Council to <br /> revise the guidelines established by Resolution No . 1125 . <br /> NOW THEREFORE , BE IT RESOLVED by the City Council of <br /> the City of Mounds View that Resolution No . 1125 is hereby <br /> repealed . <br /> BE IT FURTHER RESOLVED: The following guidelines are <br /> established relating to the acceptance , consideration , and <br /> approval of applications for tax exempt industrial <br /> development loans . However, applicants understand that, <br /> notwithstanding observance of these guidelines , the City <br /> Council may in its sole judgement reject an application or <br /> that the City Council may in its sole judgement approve an <br /> application notwithstanding that one or more guidelines have <br /> not been complied with : <br /> 1 . Applicants will submit information concerning • <br /> the proposed financing on a form provided by or <br /> satisfactory to the City at least ten ( 10 ) <br /> working days prior to the Council meeting at <br /> which the applicant will seek Council approval . <br /> 4-4 <br />