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MAYOR'S STATEMENT CONCERNING A PROPOSED PROJECT <br />UNDER MINNESOTA STATUTES, CHAPTER 474 <br /> <br /> The undersigned, being the duly qualified and acting <br />Mayor of the City of Ramsey, Anoka County, Minnesota (the <br />"City"), certifies that the city Council of the City (the <br />"City Council") has been provided by Super Bowl, Inc., a <br />Minnesota corporation (the "Company"), with certain informa- <br />tion concerning a proposed Project under the Minnesota Mu- <br />nicipal Industrial Development Act, Minnesota Statutes, <br />Chapter 474. On the basis of such information, the City <br />Council, by resolution adopted June 23, 1981 (the "Prelimi- <br />nary Resolution"), has given preliminary approval to the <br />proposed Project and the financing thereof by the issuance <br />of a revenue obligation or obligations of the City. The <br />following are factors considered by the City Council in de- <br />termining to give preliminary approval to said project: <br /> <br /> 1. The Project consists generally of the con- <br />struction of an addition to an existing building to be <br />used as bowling and recreational facilities. <br /> <br /> 2. O'Connor & Hannah, as bond counsel, is of the <br />opinion that the Project constitutes a "project" within <br />the meaning of Minnesota Statutes, Section 474.02, Sub- <br />division la. <br /> <br /> 3. Based on an estimated total cost of construc- <br />tion of approximately $475,000, it is the opinion of the <br />City Council that the Project, when completed, will add <br />significantly to the commercial and industrial tax base <br />of the City and the County and School District in which <br />the City is located. <br /> <br /> 4. Representatives of the Company estimate that, <br />as a result of the construction of the Project, the <br />Company will employ approximately eight to ten (8 - 10) <br />full-time and part-time persons in addition to those <br />currently employed by the Company in the City and the <br />surrounding area. The City Council is concerned about <br />the level of unemployment in the City and surrounding <br />area and the resulting movement of persons to other <br />areas where jobs are more plentiful and believes that <br />the existence of the Project in the City would help <br />alleviate those problems. <br /> <br /> 5. Representatives of the Company estimate that <br />the'construction of the Project will result in an addi- <br />tional payroll of approximately $50,000, based on cur- <br />rently prevailing wages. The City Council believes that <br />a substantial percentage of that additional payroll will <br /> <br /> <br />