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HomeMy WebLinkAbout81-010 ~6--a,~°--~= CERTIFICATION OF MINUTES RELATING TO $3,,000,000 INDUSTRIAL DEVELOPMENT REVENUE NOTE ' (Warehouse Realty Company Project) Issuer: City of Lakeville, Minnesota Governing Body: City Council Kind, date, time and place of meeting: A regular meeting, held on Monday, January 19, 1981, at 7:30 o'clock p.m., at the City Hall. Members present: Spande, Lekson, Zaun, Sindt, Nelson Members absent : None Documents attached: Minutes of said meeting (pages).: RESOLUTION NO. 81-10 RESOLUTION REAFFIRMING THE ACQUISITLON AND CONSTRUCTION OF A PROJECT UNDER THE MINNESOTA MUNICIPAL INDUSTRIAL. DEVELOP- MENT ACT AND THE SALE AND ISSUANCE OF AN INDUSTRIAL DEVELOPMENT REVENUE NOTE TO FINANCE THE PROJECT, AND AUTHORIZING THE EXECUTION OF VARIOUS DOCUMENTS I, the undersigned, being the duly qualified and acting recording officer of the public corporation issuing the bands referred to in the title of this certificate, certifying that the documents attached hereto, as described above, have been carefully compared with the original records of said corporation in my legal custody, from which they have been transcribed; that said documents are a correct and complete transcript of the minutes of a meeting of the governing body of said corporation, and correct and complete copies of all resolutions and. other actions taken and of all documents approved by the governing body at said meeting, so far as they relate to said bonds; and that said meeting was duly held by the governing body at the time and place and was attended throughout by the members indicated above, pursuant to call and .notice of such meeting given as required by law. WITNESS my hand officially as such recording. officer this 19th day- of January, 1981. i^ P trick Mc arvey, City Clerk-Administr or 1 C + Councilmember zaun introduced the following resolution and moved its adoption: RESOLUTION NO. 81 -10 RESOLUTION REAFFIRMING THE ACQUISITION AND CONSTRUCTION OF A PROJECT UNDER THE MINNESOTA MUNICIPAL INDUSTRIAL DEVELOP- _ MENT ACT AND THE SALE AND ISSUANCE OF AN INDUSTRIAL DEVELOPMENT REVENUE NOTE TO FINANCE THE PROJECT, AND AUTHORIZING THE EXECUTION OF VARIOUS DOCUMENTS BE IT RESOLVED BY THE City Council of the City of Lakeville, Minnesota,. as follows: 1. Pursuant to the authority of Minnesota Statutes, Chapter 474, as amended (the "Act"), it has been proposed and the City .has given final approval, by resolution duly adopted January 5, 1981 (the ''Resolution"), to (i} a project consisting of the acquisition of land and the construction and equipment thereon of a 100,000 square foot office, warehouse and distri- bution facility in the City {the "Project") on behalf of Warehouse Realty Company, a North Carolina general partnership- (the "Obligor"), (ii) the sale and issuance of its Industrial Development Revenue Note (Warehouse Realty Company Project) (the "Note") in the principal amount of $3,000,000 and (iii) the general form of the Loan Agreement (the "Loan Agreement°') to be made and entered into between the City and the Obligor, the .Assignment of Loan Agreement (the "Assignment") to be made from the City to Marquette National Bank of Minneapolis (the "Bank") the Construction Loan Agreement (the "Construction Loan Agreement") to be made and entered into among the Obligor, the City and the Bank and the form of Note. Said Resolution is incorporated herein by reference. 2. There has been presented to this Council and is now, or shall be placed, on file in the office of the City Clerk revised copies of the Loan Agreement, the Assignment, the Construction Loan Agreement and the Nate. 3. This Council hereby finds, determines and declares that the final approval given by the City to the Project and the issuance and sale of the Note in the Resolu- tion is reaffirmed. 4. The general form of Loan Agreement, Assignment, Construction Loan Agreement and Note are approved and the Mayor and City Clerk-Administrator are authorized to execute said. documents in the. name of and on behalf of the City. The documents may be modified prior to execution if such modifi- cations do not in any way change the rights or obligations of the City as set forth therein. Approved: Mayor Attest: ~ City Clerk-Administrat The foregoing resolution was duly seconded by Councilmember Nelson and upon vote being taken thereon, the following voted in favor: zaun, sindt, Nelson, Spande & Lekson; and the following voted against the same: None whereupon the resolution was declared duly passed and adopted.