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HomeMy WebLinkAbout80-077 t • • ,v CERTIFICATION. OF MINUTES RELATING TO INDUSTRIAL DEVELOPMENT REVENUE BONDS (DESPATCH INDUSTRIES, INC. PROJECT) Issuer: City of Lakeville, Minnesota Governing body: .City Council Kind, date, time and place of meeting: A council meeting held July 21 , 1980, at 7.30 o'clock ~.m. at the council chambers. in Airlake Park, 7773 214th. Street, Lakeville, Minn. Members present: ~pande, Lekson, Zaun, Sindt and Nelson. Members absent: None Documents attached: Minutes of said meeting (pages): _ through including: RESOLUTION N0. 80-7, RESOLUTION RELATING Z'O A PROJECT UNDER THE MINNESOTA MUNICIPAL INDUSTRIAL DEVELOPMENT-ACT; CALLING A PUBLIC HEARING THEREON' I, the undersigned, being the duly qualified and acting recording officer of the public corporation .considering issuance of the obligations referred to in the title of this. certificate, certify 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 obligations; 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 21st .day of my , 1980 - I Sig ature Patrick E. McGarvey, City Clerk-Administrator (SEAL) Nameand Title i • Member. sindt introduced the following resolution and moved its adoption. RESOLUTION NO. 80-77 RESOLUTION RELATING TO A PROJECT UNDER THE MINNESOTA MUNICIPAL INDUSTRIAL DEVELOPMENT ACT;: CALLING FORA PUBLIC HEARING THEREON BE IT RESOLVED by the .:City Council of the City of Lakeville, Minnesota (the City), as follows: Section 1. Recitals.. 1.01. The welfare of the State of Minnesota requires active .promotion, attraction, encouragement and development of economically sound.. industry and commerce. through governmental acts to prevent,. so far as possible, _ emergence of blighted lands. and areas of chronic unemployment, and the State has encouraged local e governmental units to .act to prevent such economic deterioration. 1.02. Despatch Industries, Inc.,. a Minnesota corporation (the Company), engaged in the manufacture of heat processing and metal finishing equipment, has advised this Council of its desire to construct and equip on certain land located within the :City one or more buildings and related. facilities (such construction and equipment hereinafter is referred to as the Project), for .use by the Company as an addition to its existing manufacturing facility. The estimated total cost of the .Project is $2,500,000. 1.03. Z•he City is authorized by the Minnesota Municipal Industrial Development Act, Minnesota Statutes, Chapter 474, as amended (the Act),. to issue revenue bonds or notes (whether bonds or notes, hereinafter, the .bonds} to finance capital projects consisting of .properties used or useful in connection with a revenue-producing enterprise, such as that of the Company. Z~he Company has requested that the City .issue its revenue bonds in the approximate principal amount of $2,500.,000 to finance the cost of the Project. Section: 2. Public Hearing. 2.01. Section 47.4.01., Subdivision 7b of the Act requires that prior to submission of an application to the Minnesota .Commissioner of Securities requesting: approval. • of the Project as required by Section 474.01, Subdivision 7a of the Act, this Council shall conduct a public hearing on the .proposal to undertake and finance. the Project. Pursuant to that provision,.apublic hearing on the proposal to undertake .and finance the Project is called and shall be held on August 18 , 1980, at 7:30. o'clock - P.m. , at the council chambers, 7773 .214th Street, Lakeville, Minn 2.02. The City Clerk-Administrator shall cause notice of the public hearing to be published in the. official newspaper of the City and in a newspaper of general circulation throughout the City at least .once not less than fifteen nor more than thirty days. prior to the. .date. fixed for the hearing,. such notice to be in substantially the following form: .2_ s. 2.03. A draft copy of the .proposed application to the Minnesota .Commissioner of. Securities, together with all attachments and exhibits thereto, are hereby ordered placed on file with the City Clerk-Administrator, and shall be available for public inspection, following the publication of the notice of .public hearing, weekdays.,. between the hours of 8:00 a.m. and 4:3o p.rn. ..Section. 3. Special Obligation. In all events, it is understood, however, that any .bonds-issued by the City pursuant to the Act to assist in the financing. of the Project shall not constitute a charge, lien or encumbrance, legal. or equitable, upon any property of the City except the Project, if it becomes the property of the City; that each bond, when, as and if issued, .shall be payable solely from the revenues received from the Project and property pledged to the payment thereof and shall not constitute a debt of the City; and.. that the Company. shall save and hold the City harmless with respect to any and all liabilities and expenses incurred. by the City withrespect to the Project and the Bonds . This resolution shall be effective. immediately upon its final adoption. PASSED AND FINALLY ADOPTED by the City Council of the City of Lakeville this 21st day of July , 1.980. M or 1 Attest• ity Clerk-Administrator -5- ' ~ ~ ~ - The motion for the adoption of the foregoing resolution was duly seconded by Member zaun , and upon vote being taken thereon, the following voted in favor thereof : Spande, Lekson, Zaun, Sindt and-Nelson, .and the following voted against the sames None whereupon the resolution was declared duly passed and aaopted and was signed by the Mayor, which signature was attested by the City Clerk-Administrator.. -6-