HomeMy WebLinkAboutResolution 0593r iYf ;1 C41�! Irl 1 1. l41 i1 J-11-.- 11 - - 1. F1. !
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YL�TlITn`j'P7M1ti- l.1rV .}..:.1.... .. .:'! .._._�••,n .r...
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BE IT i(E;M(INtaaTi ;caa ct LNL- Vi, JI.i t'u
of MniInl4" Vi.ew; MInn,7rn*a; n!. rnllrWr
M.F.J. Mumpany, a puirtney' i1' -P, tri t. tiie Y1l lfige Wider -
take a certnit. Pro4eet 45 hf.reln deujr1bt-t, puri#uant: t=,
the Minnesota Industrial Developrimrit Act, Chapter 4-th,
Minnesota Statutes.
2. i`he rrojeet which 18 to ,onlrlSt of Vi
requivition, acinatruoti"" k„i3 r-T41ppirig of a trucking
z
storage and operating terminal will give employmeAt to
approximately 50 p6rocins , will hoop to =_noroaae the tax
t~ese Of t};e Village aad will othtrwiso fuiither the -
G
policies and purposes of said Tnduatrial Development Aot,
3. Under the propoer.l the Project will iso --
ue3quired from the proceeds of lnduntria� Develop1rent
- _ ROVATILIG Sonda to be issued by the Villago wlth. C3.tla 6u
the Project property to he taken in the name of the
_
Villa f and the Pr=oject will then Lw leanedu sua.nt
€ to thi trrms of a Lehoup by the "illiage to M..J. C tinny
who will in turtr autileat� t}r€r8,efrl toCe.turMe+tor�
- 3. 1=I Inc. It is further poopused that the illage
a mortgage in the #.tl estate and a src4r: ity lnte.iqut
Ifuthe Dersnnal property constioiting the Projiet and pled -11a
thr revenues w.p ether r r)celpta derived r!rm the leasing
sof the Project to thu Pl.ir;et Pru6t Grrmiisn,, ,:-f faint Prize.
--: fin Trustee ror tris graurrity eif and ngmint fo=' ii5oo ooh
Industrial. Delvlopment gevenue Bondi of 1!72 of tAe v11-
-�- la�e . all_ in ancardannu. with a rroponed fo' rm of ftrtgag+r
and ndenture of Frust, hereinafter referred to is the
Indenture.
4. Thia Council by action taken on September P5,
1972, Save prellminary approval to the propopel and on or
about October 3, 1972, tate Commiosionar of Economic Deveic+p-
ment gave approval to the Pro,lect as tending to further the
purposCS and policloa of the Minnesota Industrial Develop-
ment Act.
Ez-.
Y-, rurmunnt I- Pl--el 1 1 n 110,FY
'i -.w 1 1 It V
trie 'if �
Uiurmittf-ri t i -141,C
h v (I U I v I
Vi 1 o f
r�r ,quifliticr nnt, iwit-il I fit I
QmjItt,;y I - Ir
LVL."� X
cjr t1le projoet in the n Pie of 4 h v V 1 1 ht!� at -:d !-!-' -
, )r tr I , -1 g t I
, � . 1� . j . ,,
agitrimrvtl� hy tilt:
to the Projeut anti In r 1aLirtti to Ito InLtallatinn..
b. Vlortqnge and jndtnturt -f TruBt, dth-t-I
a# of Devewit-r 1, 1972, tu late malt: ind unt-erect int) 1!
rnt pru,t C -,uiptmy or S&Int
twoon tlx Village and t'he F1
ledgin& this r-tvenw-m and giving a
Ii
M*Vtg&Xw and security Interefit li� t"
socurity of *11lir,00,000 Indugtplal Devejopmcnt Hevorme.
bonds or 1972, prnionsel to be issued by ti,e Villtigo or
Koutistis Viev, and artring ilvrtls proporifid recit.&IIIII, cGvctl?-
ants and agreemelil- o by the rartl 05 WI t -i-, Vel PECt tl ert. tr
It in hereby found, tiotermAned and detlared
that.
a. the rPR2 ill
DUIIQIn5O# U&
equipment and, related equipment de-scrib(41 ll tn 0 0450
and Indenture referred to above cons-titutt., a Project
&Uthoris#d by the Minnesota Indj-.tria3 DevelOPWAtWit
W. the PUPPONO Of thk PPOICt- I -W tui- the
atfwot ttVer#OT_ wl 11 b -e- to -VIIM Ott thft, pub Iije- welfare- by
t and dilvillngment Ot **OnOmic-
a S
_-Wraction, onevursemen-
t rj PrIFYInt $kr
aa.lfi.
00--lbles the jjm*rjj#no& of �Ijighted rand marginal larjOs
P8 ---
VW.areas of ellronio unw-111101-6--ment; the devulaorlt
U1,ces or, the dormnityi
Inaiis try v U6 C . +
'hat:va.
n Or ill
n$ Iveil V t/
-J-ft fir U retui o
I public service raoilitiestl by halting
Sr. #duestione.1 and onne� of mature age
pment or talented, educated pers
to othor iarstar. and thui �reservi� VIII vo—onomi-a -and -h Amon
resources needed an a bast for providing goverranoIntal
and racilities; and the intensive development of
land available in the copununity tt, fir' -vide
tax base to finance the increase in the amount and exist
or governmental fiervlOed:
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W
stir= :
LLQ Lia;_: r..u, .
rjand i#'.l Vii: S :,f' #-''
I t'.' ..r i G tai Wil -f 17,L 11�
#fianc r 3 _r
Ir V #tri .
Zir:d :rF z[-ji"u I':.. i':t' ;, ti?.� tri-I}f-J'
atati and tit3lig.= rt::ju;rf-u %Ir,6l=r thr, : cinrt 3 tution p,t7.j 1(jW^
of thty "tuf.0 rif MI1-I if ;; f i1 1 t t; �u
Honda 'valid and blji ljs g n1'.' sI 11 i a �
t_k� tom!# t1 t13t 1 g tin
accoMance vltl"r t}#e!r turl#iffi, zrc a thor,!,.lod by tilt- jndU_f5_
trial Dbvc7o}= ent het;
-3-
t.
'11& Ude Of '119 Project for the NIPPON"
and in thr- t#1 fli6 � to
all appllcuble z0nItIF, Pollutlr-�ri vontrol, ester r!or-n&rva-
tion and outer refulation€t and CzPdi.aneet of tht Stet+ 0. -
"the
Minne40ta, the County of pd!Adey andVillage;
r. it 10 dasira le that the tenant be
authorized, in accordance with the provisi0he of Seetien -
- - -
-- � •G .� # thi *ndua trl&_l Ac -t, aftd jeet- _
tv the te11nc and ounditions set forth in Article 3 of the
-.@fisc, which terms and conditions the Village determirtoo
to he necessary, desirable and proper, to pToVjd#.f0r_.th4.
�;:e aior► Arid int ll iloti of the Prejvct by such neana
as shell be AvAila-b"a to the Tenant and In
t ltistsiby the Tq,1ant, And with be witheut advertIae=
we for bids as required roc the acquisicion arra intrtt4C41a-
tion Of either aj munici
-- - p..: tPaiiitiesj _
g: it is deelroble Lhnt 1rldustiiSYl. itirreloprs
1aa1'it M -Venue Bonds in tine amount of $1.5U0,000 ba issues:
by tilt Villdgc Uf;ot tilt t,erma E_ci; is l'e"=: .'.rt Win Inticil-uret'
-
lil#':le th't pr,,v.a_'0Ae -01' chiefs the Yillagate tt�x rbat.: i�
E
flow L*Lve and the recitals thereunder will be pledged avid
F
Lhe Trustee will be Given a security
_
"lciCares_l...in-the_._Pro-:. -
ji -t- in security "ur the payment of principal, interest - -- -
and redemption premiuma on the Bands;
t
n. the rentals charged in the Lease for the
use of the Project are fixed, and required to be i4evised-
>rrotn time to time as necenesry, t so as to produce incomt: and
revenue sufficient to prcvidn roil I;hf4 rrnmpt payment cf
-3-
I, j .1 d;
W 4 1,-)
Ll I
I 1w t iii 1i"3iri`i
urinllig I rum Ulf. r�ppj—t t i -c'
it t-Bb1n(.t111,P I t -V I f-111 U1.1"f! Or V1 tt VU Ulu U L Y.aa i.CiP
tind pny.ru! Ir durin�, i rip 1 , T—
. .. U.!
i. under the rj,bv1s1 wtlin MI-Ini-jerota
and iz� -C du I In U, Lea -
and Indenture, tho/ HI)r1d, cirn H011- tri Lit P&Y&.blf-, from noir
chargf#d upon ftny funds other than the revenue pl2dwad
to the J%rtY1T!0,-A U 1,110 VIlage i -I not rubject,to Rny
Liability thez-vni; no holder or noidern of this 13c3nrir. shail
aver have the right to compel any exer04 sm by the Village
of Its taxing poVer-s U,
U pay iftnV c,f t) -,P Snridn Or thL
interest thereon, nor to enforce pay niont theraof 4LIin4t
"Y property of the Village except the Project mortgaged
by the property
the ponds shall not contatitutte a
charge, lion or encumbilancep legal ckr t-jultable, upon
any property of the Village except the Project; fach bond
issued under the Xndenture ahall recite that the Bond,
t ft i n ij-ft- Tesla -MM a3fy thb
revenue pledged to the payment thereoi; and, no ;fiord shall
60"btltut* A debt Of tht Village within the moaning of any
00119t itutional or statutory limitation.
7, Subject to the ap
proyal Or the Village At—
torner-au,
4c,*@ are appruved. fitle Lpaaa
is e3 acted to
the name W-- vn-b,thalf of the "'Illagglthw ftycFr* ana-
_.iia-ViL-1990 1110rk, Upon exrrutio,-, ther-60.14. P*
to be eXetjUtgd- 4 n -
C DWOM4 Now Indenture An directed tht.- -
.iam and ort- behalf o*' t1.9 Viligge by the ;Mayer and Vi- IDWA�
Clerk and delivered t,., the 7,rutitet-j, cpp1qj 01, all of the
OVOWnGhtfi *hall of de),Iveredo ril%d mil pro-
v!cled therein.
I recorded jS
In anticipation or t14 003100tion of reve-
nues of the Project, the Village shall Proceed rorthwith
-- to 4aiaua its IndUstPiAl Development Revenue Sw6 of 1972,*
dated AL of December 1, 1972, in the principal amount of
1 50010001 In th4P fOM and up(,n the terms set forth in
the Indenture, which terms are for this PUrOode inoorpo-
rated in this resolution and In4da a pas4t t,rrqvof, The pro-
posal. or Miller & flahrooder Municipals, Inc. to purchase
-4-
t
thf, rifiv, rit 14 1 f= if
Lit i L' U I
Ll
ar
and ti b v r v. v- T-1 1, f -
5it-1 rx I CUte UW
t
-AthOr' 4 ticy P
to A U,
the
rjl v. f I t-- .4 j
9. 'PIX M-1YOr 10-A p
V dire0t4d to P"-P"ry
,qUt)joj,i,ej and
'lago ar
cars- of the V-1- w)) f n i ps, k-1 (- A
and furnlab to tile purchaVe, 01' 11-jo on
v
oortifted Oopiefi of all PvOt@edA,,,xs tind P@cord; of tho
Villtkgg V#14ting to t1je Lwido, hAjjtj a -
and aertificateO 49 matt be I'Qqui"Od to bhowthe
A.1 , of the Bcndo as
lating to the 1#641 -i -t -Y and ma-"ketat"""Y
quoh Facts ar.pear from the hookin and j,oiccorls In the Of-
riciaral I custody, and control Or 4# Otherwa so known tw thvills'
and all such certified oopiarl, cartificateld and affidavitns
inoluding any huraeofore furt,ished, shh11 constitute
representations or that VjjjjjgL- a# to the truth of all
ained therein#
statements Cont
Passed
Clark
I -. -