HomeMy WebLinkAbout97-239 CITY OF LAKEVILLE
RESOLUTION
Date October 20, 1997 Resolution No. 97-239
Motion By sindt Seconded By Mulvihill
RESOLUTION APPROVING ICE ARENA AND FINANCING FOR THE ARENA
WHEREAS, the City, in cooperation with the Lakeville Hockey Association,
Lakeville Community Corporation and Independent School. District 194, proposes to
construct a second ice arena to be attached to the existing Ames Arena; and
WHEREAS, Minn. Stat. § 475.58 authorizes the City to issue and sell obligations
to finance improvement and construction of an indoor ice arena; and
WHEREAS, the City Council has received a report from the City's Finance
Director dated October 1, 1997, which analyzes the financing for the facility.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of
Lakeville:
• 1. The second ice arena facility and its financing, as set forth in the October 1,
1997 report of the City's Finance Director, are approved.
2. The City Council finds, based on the analysis provided by the City's Finance
Director, a professional experienced in finance, that the facility's revenues
and other available money will be sufficient to pay the obligations to be sold
by the City to finance the facility, without reliance on a property tax levy or
the City's general purpose state aid.
APPROVED AND ADOPTED this 20th day of October, 1997.
CITY LAKEVILLE
By:
Duane. Zaun, Mayo
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arlene Friedges, City Cte k