Agenda - Council - 03/26/1985 - Laserfiche WebLink

Home

I I I I I I I I I I I I I I I I I I It is presently istlmlted this COnStruCtiOn will begin on or about _ Ha ¥ will bs complete0 on or about Auc~ , 19R~ .WhencomDlele0,1he~ewdi~el~o~. ~ltlty , ~ new lObS crllt$~ by the prOjeCt It In In.ual ~ly~oII Of l~ro~imltlly l blll~ upon Currently prlvld~ng wigel. (If I~hclble) There Ira exishng lobs (If apphcable) There will be jobs craatecl by construction of iht project. Number of hours . Aver. Ige wsge level l The tentative term of the f,nanc,ng is ;~ 0 , years, commencing,, May _ , 19 8 5 The following exhibits are furnlshecl with th~s apphcat,On and are incorporated herein by reference: 1. An opinion of bond counsel that proposal constitutes a project under Minn. Stat. 474.02 and Minn, Lawl 1984, Chp, 582 ~ 12 ilo be codified as M~nn, Stat. 474.231. A copy of the city council resolution giving preliminary approval for the issuance Of its revenue bonds and stating that the prolect, except for a project under Minn. Stat. 474.02. subd. lf, would not be undertaken but for the availab,hty of Industrial Development Bond financing. 3. A comprehensive statement by the municipality indicating how the project satisfies the public or purpose and policies of Minn. Stat. ch. 474. 4. A letter of intent to purchase the bond issue or a letter confirming the feasibility of the project from a financial standpoint. A statement signed by the principal representative of the issuing authority to the effect that upon entering into the revenue agreement, the information required by Minn. Stat. 474.01, Subd. 8 will be submitted to the Department Inot applicable to project under Minn. Stat. 474.02. subd. 1fl. A statement signed by the principal representative of the issuing authority that the project does not include any property to be sold or affixed to or consumed in the production of property for sale, and does not include any housing facility to be rented or used as a permanent residence. A statement signed by the principal representatives of the issuing authority stating that the project: (1 } does not include: an airplane; a private luxury box; a facility primarily used for gambling; or a store the principal business of which is the sale of alcoholic beverages for consumption off premises; and {2) that no more than 10 percent of the proceeds of revenue bonds will be used to finance movable equipment not constituting a fixture, no more than 25 percent of revenue bonds will be used to finance the acquisition of land, and not more than $10,000,000 in revenue bonds which are industrial development bonds subject to the exemption described in section 103(b}{6} of the Internal Revenue Code of 1954, as amended December 31.1983, will be issued with respect to any one building which is used for commercial, office or industrial purposes, with- out regard to ownership of condominium units within the building. A statement signed by a representative of the issuing authority that a publi~: hearing was conducted pursu- ant to Minn. Stat. 474.01, Subd. 7b. The statement shall include the date. time and place of the meeting and certify that a draft copy of this application with all attachments was available for Public inspection and that all interested parties were afforded an opportunity to express their views. Copies of noticels) as published which indicate the datels) of publication and the newspaperls) in which the not,ce{s) were published. 10. Provide a plan for compliance of employment preference of economically disadvantaged or unemployed indi- wduals. [See M~nn. Stat. 474.01. Subd. 11 .I