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Councilmember Sorteberg introduced the following resolution and <br />moved for its adoption: <br /> <br />RESOLUTION 985-68 <br /> <br />RESOLUTION RECITING A PROPOSAL FOR A COMMERCIAL FACILITIES <br /> DEVELOPMENT PRO3ECT GIVING PRELIMINARY APPROVAL TO THE <br /> PROJECT PURSUANT TO ]/4E MINNESOTA MUNICIPAL INDUSTRIAL <br /> DEVELOPMENT ACT AU~/~ORIZING THE SUBMISSION OF AN APPLI- CATION FOR APPROVAL OF THE PROJECT TO THE ENERGY AND <br /> ECONOMIC DEVELOPMENT AU~4ORITY OF THE STATE OF MINNESOTA <br /> AND AUTHORIZING THE PREPARATION OF NECESSARY DO~3MENTS <br /> AND MATERIALS IN CONNECTION WITH THE PROJECT <br /> (FOOD'N' FUEL PROJECT) <br /> <br /> WHEREAS, the purpose of Chapter 474, Minnesota Statutes, <br />known as the Minnesota Municipal Industrial Development Act (the <br />"Act") as found and determined by the legislature is to promote <br />the welfare of the state by the active attraction and <br />encouragement and development of economically sound industry and <br />commerce to prevent so far as possible the emergence of blighted <br />and marginal lands and areas of chronic unemployment; and <br /> <br /> WHEREAS, factors necessitating the active promotion and <br />development of economically sound industry and commerce are the <br />increasing concentration of population in the metropolitan areas <br />and the rapidly rising increase in the amount and cost of <br />governmental services required to meet the needs of the increased <br />population and the need for development of land use which will <br />provide an adequate tax base to finance these increased costs and <br />access to employment opportunities for such population; and <br /> <br /> WHEREAS, the City Council of the City of Ramsey (the <br />"City") has received from Gregory Johnson, David Brandt and <br />Kenneth Pederson who, with others to be named, intend to form a <br />Minnesota partnership (the "Company") a proposal that the City <br />assist in financing a Project hereinafter described, through the <br />issuance of a Revenue Bond or Bonds or a Revenue Note or Notes <br />hereinafter referred to in this resolution as "Revenue Bonds" <br />pursuant to the Act; and <br /> <br /> WHEREAS, the City desires to facilitate the selective <br />development of the community, retain and improve the tax base and <br />help to provide the range of services and employment <br />opportunities required by the population; and the Project will <br />assist the City in achieving those objectives. ~he Project will <br />help to increase assessed valuation of the City and help maintain <br />a positive relationship between assessed valuation and debt and <br />enhance the image and reputation of the community; and <br /> <br /> WHEREAS, the Project to be financed by the Revenue Bonds is <br />a convenience store and gas station facility to be located at the <br />southeast corner of the intersection of County Road 116 and <br /> <br /> <br />