Resolution - #03-06-158 - 06/24/2003

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Councilmember Zimmerman introduced the following resolution and moved for its adoption: RESOLUTION #03-06-158 RESOLUTION FOR LOCAL GOVERNMENT ECONOMIC DEVELOPMENT PROGRAM NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the City of Ramsey (Applicant) act as the legal sponsor for project(s) contained in the Business and Community Development Application to be submitted on or before June 30, 2003 and that James E. Norman, City Administrator (Title of First Authorized Official) and Diana Lurid, Finance Director (Title of Second Authorized Official) are hereby authorized to apply to the Department of Trade and Economic Development for funding of this project on behalf of Panther Precision Machine, Inc. (Applicant). 2) That the City of Ramsey (Applicant) has the legal authority to apply for financial assistance, and the institutional, managerial, and financial capability to ensure adequate construction, operation, maintenance and replacement of the proposed project for its design life. 3) That the City of Ramsey (Applicant) has not incurred any costs and has not entered into any written agreements to purchase property. 4) That the City of Ramsey (Applicant) has not violated any Federal, State, or local laws pertaining to fi'aud, bribery, kickbacks, collusion, conflict of interest or other unlawful or corrupt practice. s) That upon approval of its application by the state, the City of Ramsey, (Applicant) may enter into an agreement with the State of Minnesota for the above-referenced project(s), and that the city of Ramsey (Applicant) certifies that it will comply with all applicable laws and regulations as stated in all contract agreements and described on the Compliance Section (S-7) of the Business and Community Development Application. 6) That the City of Ramsey (Applicant) has obtained credit reports and credit information from Dunn and Bradstreet (Name of Company) and Panther Precision Machine, Inc. Upon review by the City of Ramsey (Applicant) and William K. Goodrich (Applicant's Legal Counsel), no adverse findings or concerns regarding, but not limited to, tax liens, judgments, court actions, and filings with state, federal and other regulatory agencies were identified. Failure to disclose any such adverse information could result in revocation or other legal action. 7) That E. Norman (Title of First Authorized Official) and Diana Lund (Second Authorized Official), or their successors in office, are hereby authorized to execute such agreements, and amendments thereto, as are necessary to implement the project(s) on behalf of the applicant. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Pearson, and upon vote being taken thereon, the following voted in favor thereof: Resolution #03-06-158 Page 1 of 2