Agenda - Council - 06/26/1990 - Laserfiche WebLink

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City of Ramsey 15153 NoW'rHEN BOULEVARD N.W., RAMSEY, MINNESOTA 55303 · (612) 427.1410 June 12, 1990 Minnesota Department of Trade and Economic Development Division of Community Development 900 American Center Building 150 East Kellogg Boulevard St. Paul, MN 55101 RE: Proposed City of Ramsey Industrial Development Revenue Bonds (ParaBody, Inc. Project) Dear Sir or Madam: Ramsey Investments, a Minnesota general partnership (the "Borrower"), advises us that it intends to use the proceeds of the above-referenced issue to assist in the financing in the City of Ramsey, Minnesota (the "City"), of a Project consisting of acquiring, constructing and equipping a manufacturing facility (together with site improvements in connection therewith, the "Project"), to be owned by the Borrower and leased by the Borrower to ParaBody, Inc., a Minnesota corporation (the "Lessee"). Enclosed please find the Application of the City for approval of the Project, in duplicate, including a copy of the Preliminary Resolution adopted by the City Council. Based on the representations of the Borrower, the City believes that the Project will be in the public interest and serve a valid purpose under the laws of the State of Minnesota, including the Municipal Industrial Development Act, Minnesota Statutes, Sections 469.152 to 469.165, as amended (the "Act"), primarily because the Project is expected to assist in the promotion, attraction, encouragement and development of economically sound industry and commerce through governmental action for the purpose of preventing the emergence of blighted and marginal lands and areas of chronic unemployment. I further certify, in order to provide the information required to be supplied to the Minnesota Department of Trade and Economic Development as Exhibits 5, 6 and 7 to the Application to the Department for approval of the Project, as follows~