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<br /> <br />Councilmember Riley introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #17-07-177 <br /> <br />RESOLUTION AUTHORIZING EXECUTION OF A PUBLIC FINANCING <br />AGREEMENT <br /> <br /> WHEREAS, <br />PSD, LLC (the “Developer”) has requested the City of Ramsey, Minnesota <br />(the "City") to assist with the financing of certain costs incurred in connection with the construction <br />of an approximately 64,000 square foot industrial building in the City by the Developer to be <br />leased to Adrenaline Sports Center, Inc. (the "Project"); and <br /> <br />WHEREAS, <br />the Developer and the City have determined to enter into a Public Financing <br />Agreement providing for the City's public financing assistance for the Project (the "Public <br />Financing Agreement"). <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br /> <br />1)That the Ramsey City Council hereby approves the Public Financing Agreement in <br />substantially the form submitted, and the Mayor and City Administrator are hereby <br />authorized and directed to execute the Public Financing Agreement on behalf of the <br />City. <br /> <br /> <br />2)That the approval hereby given to the Public Financing Agreement includes approval <br />of such additional details therein as may be necessary and appropriate and such <br />modifications thereof, deletions therefrom and additions thereto as may be necessary <br />and appropriate and approved by the City officials authorized by this resolution to <br />execute the Public Financing Agreement. The execution of the Public Financing <br />Agreement by the appropriate officer or officers of the City shall be conclusive <br />evidence of the approval of the Public Financing Agreement in accordance with the <br />terms hereof. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councilmember <br />Williams, and upon vote being taken thereon, the following voted in favor thereof: <br /> <br />Mayor Strommen <br />Councilmember Riley <br />Councilmember Williams <br />Councilmember Johns <br />Councilmember Kuzma <br />Councilmember LeTourneau <br />Councilmember Shryock <br /> <br />and the following voted against the same: <br /> <br />None <br /> <br />