Agenda - Council - 10/28/1980 - Laserfiche WebLink

Home

CM- 00424 -01 APPLICATION FOR APPROVAL OF MUNICIPAL INDUSTRIAL REVENUE BOND PROJECT To: Minnesota Department of Commerce Securities Division 500 Metro Square Building St. Paul, Minnesota 55101 The governing body of the City of Ramsey , County of Anoka Minnesota, hereby applies to the Commissioner of the State of Minnesota, Securities Division of the Department of Commerce, for approval of this community's proposed municipal Industrial Revenue Bond Issue, as required by Section 1, Subdivision 7, Chapter 474, Minnesota Statutes. • We have entered into preliminary discussions with: FIRM ADDRESS CITY Alan C. Phillips 4021 160th Lane N.W. Anoka STATE Minnesota 55303 State of Incorporation NA It will he located in This Application must be submitted to Commissioner in duplicate STATE OF MINNESOTA DEPARTMENT OF COMMERCE — SECURITIES DIVISION Richard A. Primuth 4200 IDS Center Attorney Lindquist & Vennum Address Minneapolis, MN 55402 Name of Project Alan C. Phillips - This firm is engaged primarily in (nature of business): Altron, Inc. , a Minnesota corporation, will be principal lessee of the Project and is engaged in electronic manufacturing. The funds received from the sale of the Industrial Revenue Bonds will be used to (general nature of project): Construct a building and purchase equipment to be used as a warehouse and office building to be leased to Altron, Inc. and other tenants. the City of Ramsey The total bond issue will be approximately $ 1,000,000.00 to be applied toward payment of costs now estimated as follows: Cost Item Amount Land Acquisition and Site Development $ —0— Construction Contracts 725,000 0n Equipment Acquisition and Installation 1 50, 000 00 Architectural and Engineering Fees 10,000 no Legal Fees 1 5000 00 Interest during Construction 55,000 00 Initial Bond Reserve —0— Contingencies 15,000 on Bond Discount 30.000.0() Other —0— Date , 1980