HomeMy WebLinkAboutAgenda Packets - 1991/11/04 •
ENO
1. Request by Northwest Youth and Family Services to Address
Council
2. Report on Outdoor Conceits and Outdoor Alcohol Usage
3. Code Appeal, Paster Enterprises
4. 1992 Water and Sewer Budget
5. Continued Discussion of Alternative Revenue Programs
6. Discussion of 1992 Tax Levy, Tax Projections
• 7. Informal Update on Sysco Development Agreement Requirements
(Info to be provided Monday evening.)
•
OUNDS
nior
ON REQUEST FOR COUNCIL CONSIDERATION Agenda Section: 1
STAFF REPORT Report Number: 91-103 WS
AGENDA SESSION DATE November 4, 1991 Report Date:
10-31-91
0
DISPOSITION
Item Description: Northwest Youth and Family Services
Administrator's Review/Recommendation:
- No comments to supplement this report
- Comments attached.
Explanation/Summary (attach supplement sheets as necessary.)
SUMMARY:
Kay Andrews has requested time to address the City Council regarding the
proposed funding cuts to the organization. Both Kay and the Chairman of
the Northwest Youth and Family Services Board will attend Monday's
meeting.
..e/-7--)1.-a- (,,,f..".444e...e
411 . Samantha Orduno, Ci fy Administrator
RECOMMENDATION:
REQUEST FOR COUNCIL CONSIDERATION Agenda Section: 2
jbINrig 91-104 WS
STAFF REPORT Report Number:
• AGENDA SESSION DATE November 4, 1991 Report Date: 10-31-91
DISPOSITION
Item Description: Outdoor Concerts and Outdoor Alcohol Usage.
Administrator's Review/Recommendation:
- No comments to supplement this report
- Comments attached.
Explanation/Summary (attach supplement sheets as necessary.)
SUMMARY;
In the past,several bars and restaurants in Mounds View, such as Robert's Off 10,the Mermaid, and the Bel-
Rae Ballroom, have held outdoor concerts which have included the serving of alcohol. For example, in May
of this year, Robert's Off 10 sponsored an outdoor concert which included the serving of alcohol in their
parking lot. Numerous complaints were logged with the Police, City Staff, and the Council about the noise,
trespassing, and parking problems associated with this concert. In response to this,the Council directed Staff
to investigate the issue of outdoor concerts and outdoor alcohol usage.
• Currently,the City of Mounds View does not have an ordinance which specifically regulates outdoor concerts.
The code does, however, prohibit the consumption and possession of alcohol in parking lots and other
outdoor areas of on and off sale liquor establishments(Chapter 100.09 subd. 6). In recent years,this section
of the codehas not been enforced at outdoor concerts.
Should the Council choose to enact an ordinance which would regulate these outdoor concerts,the following
options are available. They are offered for your consideration, along with an attachment describing how
surrounding cities have handled the issue.
FOUR OPTIONS AVAILABLE FOR REGULATION OF OUTDOOR CONCERTS/ALCOHOL
USAGE
1. Begin enforcing Chapter 100 by prohibiting all alcohol from parking lots and open areas of on and
off salt cstablishments.
2. Require that the host business secure a concert/outdoor alcohol use permit from the Chief of Police,
who would verify that adequate off-street parking, security, fencing, and other measures would be
provided.
3. Require that the host business secure approval for their concert by obtaining either a Special Use
Permit to be approved by Council or by going through the Conditional Use Permit process.
4. Have the Chief of Police give preliminary approval to outdoor concert applications and the Council
give final approval to the permits. This process would eliminate the problem of a host business
coming to the Police Station in the afternoon and expecting approval to host a concert that same day.
•
RECOMMENDATION•
Carla Asleson
Planning Intern
Area Cities' Outdoor Concert and Alcohol Policies
411
Arden Hills:
Outdoor concerts are not regulated, except that noise
ordinances have to be followed. Those wishing to serve
alcohol outdoors must secure a permit from the City Council.
The applicant is required to provide for off-street parking
in order to serve alcohol in their parking lot.
Blaine:
Outdoor concerts and outdoor alcohol usage permits are
handled on a case by case basis through the Conditional Use
Permit process .
Fridley:
Fridley does not regulate outdoor concerts . Outdoor alcohol
usage is generally not permitted, except by charitable,
religious, and non-profit organizations as allowed by State
Statutes .
New Brighton:
The Police Chief handles all requests for outdoor concerts .
He tries to keep them within the framework of community
festivals and events, rather than private establishments
sponsoring their own events . The Chief usually requires an
11:00 p.m. ending time and off-duty police security. •
Outdoor alcohol usage is allowed only when the organization
is a charitable, religious, or non-profit organization.
Private businesses may have alcohol outside only if it is in
their liquor license and then only within a patio/deck area,
not in the parking lot.
Spring Lake Park
Outdoor concerts and outdoor alcohol usage permits are
handled on a case by case basis through the Conditional Use
Permit process . In the past, their Council has required
that the applicant to find nearby off-street parking (no on-
street parking allowed) and to fence in the concert/alcohol
area.
REQUEST FOR COUNCIL CONSIDERATION Agenda Section: 3
HI00lJl Report Number: 91-105WS
STAFF REPORT
lE
• AGENDA SESSION DATE November 4, 1991 Report Date: 10-31-91
DISPOSITION
Item Description: Code Appeal , Paster Enterprises
Administrator's Review/Recommendation:
- No comments to supplement this report
- Comments attached.
Explanation/Summary (attach supplement sheets as necessary.)
SUMMA=
Paster Enterprises has made application for a code appeal of Chapter 104, "Garbage and Rubbish", of the
Municipal Code. The request is to amend the design standards that were adopted for the construction of garbage
enclosures.
Specifically, the applicant is asking that the requirement that all enclosures be equipped with gates be removed
from the design standards.
4110 I have included a copy of the approved design standards for your review. Additionally, I have included copies of
the application and letter of request from the applicant.
If you have any questions relating to this item, please give me a call.
Paul Harrington, Planning Te a nician
•
RECOMMENDATION:
ATTACHMENT A
411
DESIGN STANDARDS
GARBAGE ENCLOSURES
The following standards will serve as the official design
specifications for the construction of all garbage dumpster
enclosures within the City of Mounds View as required by Chapter
104 of the Municipal Code:
LOCATION:
1 . All enclosures shall be placed so as to be completely and
fully located on the subjact property.
2 . No enclosure shall be located less than 30 '-0 " from. -the
front property line nor less than 1'0" from all sides or
rear property lines .
3 . All enclosures shall. be constructed on an impervious
surface (i.e. , concrete, asphalt pad) .
4 . Any enclosure attached to a building must meet all
applicable building and fire codes .
DIMENSIONS : •
1 . All enclosures shall be constructed of a size sufficient
enough to provide for a minimum of 2 '-0 " of clearance on
all sides of the garbage dumpster.
2 . All enclosures shall be a minimum of 6 '-0 " in height.
3 . All enclosures shall be equipped with a latching gate or
doors .
APPEARANCE :
1. All enclosures shall be constructed of materials providing •
for sufficient screening with a minimum of_ gaps and open
areas .
2 . All enclosures shall be maintained in a state of good repair
at ail times. _
3 . No chain link fencing will be acceptable.
•
•
CITY-- OF-MOUNDS :VIEW .
PLANNING APPLICATION
Date 10-8-91•
APPLICANT: Name Paster tEnterprisesPhone646-7901
Address 2227 °Uni versi ty Avenue,'""-St Paul MN` 55114
Interest in Property (Check Appropriate Blank)
X Owner of Record • Lessee, Operator, Manager
Contractor for Deed. Owner Agreement to Purchase •
Other (Expi ain)
•
Documentary evidence of appl icant's interest in the property may be required
before final City action on this request
PROPERTY: 'Address/General Location Moundsview Square Shopping Center, US Hwy 10, Mounds
View, MN
Legal Owner: Name/Address Moundsview Square Associates, 2227 University Avenue
St. Paul , MN 55114
Present Use (Check Appropriate Blank):
Undeveloped/Vacant Apartment •
Aft Si nyl e Family Dwell i ny Business Es abl ishment
- Dupl ex Dwell my r Industrial Establ ishment`
Mul til e Dwell in 3-6 units
1( Other (explain) Retail , shopping center
Property Classification: Abstract Torrens
REQUEST: (Explain) See letter attached
I., hereby aeciare that the above statements are true..
{signature)
--
FOR-OFFIC
FOR-OFFICE USE ONLY:
•
TOTAL BASE *(Base Fees are Non-Refundabl e)
DEPOSIT FEES
•
Subdivision , Major $250 ($150) TOTAL FEES PAID l oo'oor3
Subdivision, Minor $100 ($75) Date Paid ;o_)g-cl
Rezoning $100 ($50) Receipt Number
Conditional Use $100 ($50)
Variance $75 ($50) _
Code Appeal $100 ($50) Park Fund Dedication
Allieration Permit $150 ($50) Date Paid
n Review $100 ($50) Receipt Number
Other ($50)
PLANNING SIGN $ 50 Addt'l Fees Paid
Date Paid
Receipt Number
WV1
•
eAl-tei& .I le
!, DEVELOPMENT AND MANAGEMENT OF SHOPPING CENTERS
2227 University Ave.•St.Paul,MN 55114•612-646-7901 • Fax 612-646-1389
i
October 10, 1991
CENTRAL PLAZA
45th&Central Ave.N.E.
Minneapolis,Minnesota A31415767?
4
0
CRYSTAL SHOPPING CENTER City of Mounds View OCTBass Lake Road&West Broadway n 1991
Crystal,Minnesota Planning Commission RACe1VeJ t%
2401 Highway 10 Mount fw �'
Mounds View, Minnesota 55112
DODDWAY SHOPPING CENTER
Dodd Road&Bernard Street
West St.Paul,Minnesota Re: Dumpster Enclosures L`�O£6Z V
FARMINGTON MALL Honorable Commissioners:
S.Hwy.50&S.Hwy.3
Farmington,Minnesota Paster Enterprises respectfully requests that the City of Mounds
View make provisions for extenuating circumstances in the code
LEXINGTONPLAZASHOPPES requiring property owners to have a gate on their dumpster •
Lexington&Larpenteur enclosures.
Roseville,Minnesota
The dumpster enclosures under construction at Moundsview
MENDOTAPLAZA Square Shopping Center are designed so that the public cannot
State Hwy.110&Dodd Road see the dumpsters from the walkways or roadways. The
Mendota Heights,Minnesota
dumpster enclosure entrances face the back wall of the shopping
center with block walls around the remaining three sides. The
MOUNDSVIEW SQUARE dumpster containers are visible only when a vehicle is within the
Hwy.10&Long Lake Road shopping center truck delivery area in a confined area located
Mounds View,Minnesota
immediately between the dumpster and the back wall of the
shop pingcrentar_ This-co-restnuc-tion-is-a-t-tr-ac-t-i ar-nEnat-esthe
NORTHWAY SHOPPING CENTER need for wooden gates.
State Hwy.23&Woodland
Circle Pines,Minnesota
Our past experience with the shopping centers that we have
managed is that the gates are frequently damaged and/or
SIBLEY PLAZA destroyed by trucks emptying the dumpsters. This creates an
West 7th Street
St.Paul,Minnesota unattractive image for the shopping center. We designed this
system to avoid this problem. The purpose of the code requiring
installing gates on the enclosures is to avoid the public view of
SOUTHVIEW SHOPPING CENTER the dumpsters with in a contained area. We have accomplished
Southview Blvd.&12th Street p p
South St.Paul,Minnesota the screening with the construction of the enclosures and the
placement of the openings in a concealed area not visible and not
accessible to the general public.
Therefore, we respectfully request that the City of Mounds View
• grant Paster Enterprises permission to eliminate the dumpster
enclosure gates at the Moundsview Square Shopping Center by
adding a modification to the existing code for this unusual and
unique situation.
Thank you for your cooperation in this matter.
Respectfully submitted,
PASTER ENTERPRISES
Edward J. Paster
Chief Executive Officer
EJP:mm
•
REQUEST FOR COUNCIL CONSIDERATION Agenda Section: 4
`��u'NDS 91-106WS
STAFF REPORT Report Number:
• uC� AGENDA SESSION DATE November 4, 1991 Report Date: 10-31-91
DISPOSITION
Item Description: 1992 Water and Sewer Budget
Administrator's Review/Recommendation:
- No comments to supplement this report
- Comments attached.
Explanation/Summary (attach supplement sheets as necessary.)
SUMMARY;
I will be handing out a report on the 1992 Water and Sewer budget on
Monday evening.
Don Brager, Finance Director
111
RECOMMENDATION;
4
REQUEST FOR COUNCIL CONSIDERATION Agenda Sections
LfiNO Report Number: 91-10 7WS
STAFF REPORT
• OCW November 4, 1991 Report Dat€0_31_gi
AGENDA SESSION DATE
DISPOSITION
Item Description: 1992 Tax Levy, Tax Projections
Administrator's Review/Recommendation:
- No comments to supplement this report
- Comments attached.
Explanation/Summary (attach supplement sheets as necessary.)
SUMMARY:
The attached memorandum is an in-depth analysis of the City's 1992
property tax levies and property tax rates . Should you not be interested
in an in-depth analysis, I will be bringing a much simpler version to the
Work Session.
III
Don Brager, Finance Director
•
RECOMMENDATION:
o
• The City's gross property tax levy for 1992 is 14.80% more than
the 1991 property tax levy. The table below compares the 1991
and 1992 property tsx leives of the City.
GROSS PROPERTY TAX LEVIES 1991 - 1992
City of Mounds View
Levy 1991 1992 Change $ Change %
General $1, 342, 315 $1, 425, 642 $83, 327 6.21
Capital
Notes 100,955 100, 955 0 0
Fire Bonds 0 130,231 130,231 100. 00
Total $1,443 , 270 $1, 656, 828 $213 , 558 14.80
Without the fire bond levy the City's gross property tax levy
would increase 6.21% as a result of levying for the reduction in
State Aid(LGA) .
The above 1992 gross property tax levy is the levy that was
certified to Ramsey County for use in preparing parcel specific
Truth In Taxation notices to property taxpayers. Through an
• interpretation of 1991 tax law changes concerning Truth In
Taxation requirements, the Department of Revenue is requiring the
notices mailed to taxpayers and published newspaper
advertisements to reflect the City's net levies(gross levy -
homestead and agricultural aid(HACA) , equalization aid, and
fiscal disparities tax) . The net levy is the amount of taxes
that the County collects from taxpayers. Last year these notices
provided for the use of gross levies. The table below compares
the City's net tax levies for 1991 and 1992 .
NET PROPERTY TAX LEVIES - 1991 & 1992
City of Mounds View
1991 1992 Change $ Change %
Gross levy $1,443,270 $1, 656,828 $213,558 14.80
HACA 310,826 330, 826 19, 505 6. 30
Equalization Aid 30, 148 29, 949 -199 -.70
Fiscal disparities 382,787 316, 144 -66, 643 -17.40
Net tax levy $719,509 $980,404 $260,895 36. 30
Because the Department of Revenue is requiring Truth In Taxation
notices contain the net tax levy the notices the City must
0 publish in the newspaper will state that the City's 1992 levy
will increase 36. 3% from the 1991 levy. Attached is a copy of
• The City's share of the total tax levy is 16.91%.
The overall property taxes on the average home($83, 000 estimated
market value) in Mounds View will increase by 5% in 1992 compared
to 1991. Please see the attached table, "Property taxes on the
Average Home" . The increase in the City' s portion of the
property tax llevy on the average home is 39. 01%. The increase
in the City's portion of the property tax levy consists of the
following:
Levy to replace lost State Aids $12
Voter approved fire bonds 19
Decrease in tax values 16
Increase in homestead credit (2)
Decrease in fiscal disparities tax 10
The only item that the City has control over is the levy to
replace lost State Aids
•
CITY OF MOUNDS VIEW
•ROPERTY TAXES ON THE AVERAGE HOME
Percent
Increase Increase
1991 1992 (Decrease) (Decrease)
Estimated Market Value $83,000 $80,842 ($2,158) -2.60%
Tax Capacity $980 $897 ($83) -8.49%
Tax Capacity Rate 112.312% 128.938% 16.626% 14.80%
Taxes Payable:
Schools $548 $543 ($5) -0.91%
County $361 $365 $4 1.11%
City $141 $196 $55 39.01%
Misc $51 $52 $1 1.96%
Total Taxes Payable $1,101 $1,156 $55 5.00%
The increase of $55 in the City's property tax levy consists of:
Levy for reduced state aids $12
Levy for fire bonds $19
ecrease in fiscal disparities tax $10
Increase in homestead credit ($2)
Decrease in net tax capacity values $16
Total $55
1111
REQUEST FOR COUNCIL CONSIDERATION Agenda Section: 7 •
OUNDDS 91-103C
STAFF REPORT Report Number:
�� Report Date: 11-04-91
4111 AGENDA SESSION DATE NnVRMRRR 4 , 1 991
DISPOSITION
Item Description: SYSCO DEVELOPMENT AGREEMENT
Administrator's Review/Recommendation:
- No comments to supplement this report
- Comments attached.
Explanation/Summary (attach supplement sheets as necessary.)
SUMMARY;
In an effort to wrap up the loose ends with the Sysco Development
Agreement, a settlement is proposed to accomplish two things:
1) determine reasonable additional City costs to be paid by Sysco and,
2) determine amount and payment schedule of the Revenue Note as required
by the Development Agreement.
The Development Agreement provides the following basic financing
structure:
• A. The proceeds of the Bonds were to be spent in
the following order:
1. Pay issuance costs and capitalized interest
2 . Pay all City Administrative and other
reasonable costs related to the Development
Agreement, the Development District and the TID
3 . Pay land write-down costs
4 . pay nnGt____,a_r,f he pu-bl-i-e—improvemeirts
B. Sysco was responsible to pay the City (or reimburse the
City) the costs of the public improvements which exceeded
the net amount of the remaining Bond proceeds
C. The City was responsible for determining the net amount
of the Bond proceeds which were available for payment of
the public improvements and the costs of the land write-
down
Q e0 c �e-e G�tc.�
Samantha Orduno, City Administrator
•RECOMMENDATION;
November 4, 1991
Page Two
D. The City is obligated to issue a Revenue note which
is equal to $1,800,000 minus the amount of the Bond
proceeds available for the land write-down and the
possible improvement costs
The $1,800,000 represents the amount of money Sysco
advanced the City for the cost of the public
improvement and land write-down costs .
E. Any costs which exceed the $1,800,000 limit are the
sole responsibility of Sysco and the City has no
obligation to pay such extensive costs or any interest
therein.
In an effort to determine the amount of the Revenue Note,
the City and Sysco differed greatly on the amount of the
"project costs " which were not the City's responsibility to
pay.
Sysco's attorney and the City's Bond Counsel, Jim O'Meara,
Don Brager and myself have spent the past 6 months trying to
come to settlement terms which are satisfactory to the City
• and Sysco.
I believe a satisfactory settlement has been reached. The
proposed settlement consists of the following payments by
Sysco:
1. "Zero Out" the project account which has carried a
negative balance of approximately $36,000
2 . Pay approximately $18,000 in identified additional
project costs
1. Pay add tIonal—adminis-t a i e-costs of-$25,0-00-ffrom
which our legal fees will be paid)
4 . Pay $11,000 in interest expenses on negative balances
carried over time in the project account.
Total: $90,000
The proposed settlement provides for an $80,000 cash payment
from Sysco and the remaining $10,000 to come from the
tax-Increment fund --- - --
The Revenue Note issued by the City to Sysco will be
approximately $457,500 . This amount is to be paid out of
• excess increment on February 1st of each year until 2005 .
It is doubtful that there will be sufficient amounts in
November 4, 1991
• Page Three
excess increment from this account to even pay off the Revenue
Note in full. The annual administrative fee of $16,925 is paid
separately and is not part of the $90,000 settlement.
An additional $76,500 will be included in the Revenue Note
which represents the interest on the advances Sysco had
previously made on the project account.
•
•
•
No. R-1 $457, 568. 38
UNITED STATES OF AMERICA
STATE OF MINNESOTA
COUNTY OF RAMSEY
CITY OF MOUNDS VIEW
TAXABLE TAX INCREMENT REVENUE
NOTE OF 1991
(SYSCO PROJECT)
The City of Mounds View, Minnesota (the "City") , hereby
acknowledges itself to be indebted and, for value received, hereby
promises to pay to Sysco/Continental Food Services of Minnesota,
Inc. , a Delaware corporation, or its registered assigns (the
"Registered Owner") , but only in the manner, at the times, from the
sources of revenue, and to the extent hereinafter provided, the
principal sum of FOUR HUNDRED FIFTY-SEVEN THOUSAND FIVE HUNDRED
SIXTY-EIGHT AND THIRTY-EIGHT HUNDREDTHS DOLLARS ($457,568. 38) .
. Interest shall accrue from the date hereof on the unpaid principal
amounts of this Note at the simple, non-compounded rate of interest
of nine and ninety hundredths percent (9. 90%) per annum, all such
interest to be computed on the basis of a 360 day year consisting
of 12 30-day months. In addition to the interest which may accrue
on the principal of this Note from and after the date hereof,
pursuant to certain payments (the "Payments") made to the City by
Sysco/Continental Food Service of Minnesota, Inc. , a Delaware
corporation, as Redeveloper (the "Redeveloper") under and pursuant
to that certain Contract for Private Redevelopment, dated as of
January 23 , 1989 (as the same may be amended from time to time,' the
"Development Agreement") , between the City and the Redeveloper,
inter-est on the Pa• - - - o n o <.,6:4-590-69
::...........
shall also constitute accrued interest on this Note.
Subject to the terms hereof, amounts due on this Note shall be
payable on February 1, 1992 , and on each February 1 thereafter to
and including February 1, 2005 (the "Payment Dates") .
On each Payment Date the City shall pay by check or draft
mailed to the person that was the Registered Owner of this Note at
the close of the last business day of the _city receding__such
Payment Date an amount equal to the lesser of (1) the Available Tax
• 22309
� I
•
Increments (as hereinafter defined) and (2) the sum of (a) the
current period accrued interest, that is, the interest which shall
have accrued on the unpaid principal of this Note since the
previous Payment Date (or, in the case of the first Payment Date,
since the date hereof) plus (b) the result obtained by multiplying
the sum of the unpaid principal and all other accrued interest
(excluding the current period accrued interest described above but
including the accrued interest described in the last sentence of
the first paragraph of this Note) on this Note by a fraction, the
numerator of which is the number of six month periods from Augu3t
ki)6illary 1, 1991, to the applicable Payment Date, and the
denominator of which is The City may at its option, but
shall have no obligation to, prepay at any time, in whole or in
part, the payment amounts described herein. All payments made by
the City under this Note shall be applied first to pay accrued and
unpaid interest on this Note and second toward reduction of the
principal hereof.
The amounts due hereon shall be payable solely from tax
increments (the "Tax Increments") which are paid to the City and
which the City is entitled to receive and retain pursuant to the
provisions of Minnesota Statutes, Sections 469 . 174 through 469 . 179,
as the same may be amended or supplemented from time to time (the
• "Tax Increment Act") , from the City's Tax Increment Financing
District No. 3 within its Municipal Development District Plan No.
3 , as amended March 13 , 1989 . This Note shall terminate and be of
no further force and effect following the last Payment Date defined
above, on any date upon which the City shall have terminated the
Development Agreement, or on the date that all principal and
interest payable hereunder shall have been paid in full, whichever
occurs earliest.
As used herein, the term Available Tax Increments, as of a
Payment Date, means those Tax .Increments which exceed (1) the
amount necessary to pay then current or past-due debt service on
the-City's Bonds (as defined in the Development Agreement) and (2)
the then current or past-due $16, 925 annual amount which the City
is entitled to deduct from the Tax Increments in 1991 and in each
year thereafter (which annual deduction may be made by the City as
of February 1 of each such year) .
The City makes no representation or covenant, express or
implied, that the revenues described herein will be sufficient to
pay, in whole or in part, the amounts which are or may otherwise
become due and payable hereunder.
• 22309
2
•
•
The City's payment obligations hereunder shall be further
conditioned on the fact that there shall not at the time have
occurred and be continuing an Event of Default under the
Development Agreement, and, further, if pursuant to the occurrence
of an Event of Default under the Development Agreement the City
elects to terminate the Development Agreement, the City shall have
no further debt or obligation under this Note whatsoever.
Reference is hereby made to the provisions of the Development
Agreement for a fuller statement of the obligations of the
Redeveloper and of the rights of the City thereunder, and said
provisions are hereby incorporated by reference into this Note to
the same extent as though set out in full herein. The execution
and delivery of this Note by the City, and the acceptance thereof
by the Redeveloper, as the initial Registered Owner hereof,
shall conclusively establish this Note as the "Revenue Note" and
shall conclusively constitute discharge of the City's obligation to
issue and deliver the same to the Redeveloper) under the
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.
PLS......................
This Note is not any obligation of any kind whatsoever of any
public body, except that this Note is a special and limited revenue
obligation but not a general obligation of the City and is payable
by the City only from the sources and subject to the qualifications
stated or referenced herein. Neither the full faith and credit nor •
the taxing powers of the City dre pledged to or available for the
payment of the principal of or interest on this Note, and no
property or other asset of the City, save and except the above
referenced Tax Increments, is or shall constitute a source of
payment of the City' s obligations hereunder.
This Note is issued by the City in aid of financing a project
pursuant to and in full conformity with the Constitution and laws
of the State of Minnesota, including the Tax Increment Act.
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This Note may be assigned but upon such assignment the
assignor shall promptly notify the City Clerk-Administrator at the
Mounds View City offices by registered mail, and the assignee shall
surrender the same to the City either in exchange for a new fully
registered note or for transfer of this Note on the registration
records for the Note maintained by the City. Each such assignee
shall take this Note subject to the foregoing condition and subject
to all provisions stated or referenced herein.
The City has elected to issue this Note as a non-tax exempt
- _ - - - _ - _ _ _ _ _ - • - - . ._ - _ - - - .
this Note is or will be generally exempt from federal or state
income taxes, and the City makes no representation or covenant with
respect to any such exemption.
IN WITNESS WHEREOF, the City of Mounds View, Minnesota, has
caused this Note to be executed by the manual signatures of its
Mayor and its City Clerk-Administrator; has caused the official
seal of the City to be omitted from this Note; and has caused this
Note to be issued ear and dated
1991. :................
•
City Clerk-Administrator Mayor
•
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4
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CERTIFICATION OF REGISTRATION
It is hereby certified that the foregoing Note, as originally
issued on , was 1991
..: ............ .............. .... #:; eft Spocu said
date registered in the name ..ofSysco%Continental Food Services of
Minnesota, Inc. , a Delaware corporation, and that, at the request
of said Registered Owner of this Note, the undersigned has thio day
ask ' sai d'a a registered this Note as to principal and interest
on the Note in the name of such Registered Owner, as indicated in
the registration blank below, on the books kept by the undersigned
for such purposes.
DATE OF SIGNATURE OF CITY
NAME OF REGISTERED OWNER REGISTRATION CLERK-ADMINISTRATOR
Sysco/Continental Food
Services of Minnesota,
Inc. , 19l 0a6BWERIVPIOX
•
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