HomeMy WebLinkAbout82-005- CITY OF PRIOR LAKE
MICHAEL A. MCQUIRE, MANAGER ,
R SOLUTION. 82 -5
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Y� Watkins .,econded by. R „Gs4 ,,:
_ .RESOLUTION PROVIDING FOR THE VACATION OF J roadway y WITHIN Block
39, Sprtng Lake Town'site, Scott Coun Minnes04,
Wher=eas, a petition for ° roadway vacation hat been duly presented to the City
Prior Lake, signed by a majority of the owners of the. property abutting
4 on the following described p roperty� situated in the City of Poor °
,-Lake, Scott CoUity, M i nnesot& to-wit:
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' Th at p yrtil6n of 101h Street located in,the. plat of Spring Lake Townsite described - as
fUi ►'ows: �+he westerly 10 feet of said 10th Street.extending from and r easterly ”
extension of'the north boundary line of Lot }.1 ?, Block 39 in' 'kit an easterly
- extensionof.,the south boundary line of�Lat 12, Block 39 in said plat�,ofSprine Lak
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Townsite. o
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Whereas, ijot�ice of,the hearing on said petition has been duly published and posted �
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+ In_,.accord"ce with the applicable.Minnesota Sfiatutes' and,
Whereas, a public hearing was held on said pet on „�. %nday, March: 15,
9 19 82 , at 8,00 , 1PM in'Athe Olty,Council Chambers, 4629 Dakota Street SE
and, P
Whsreas, The City;08 then proceeded to hear all persons interested In said
petition and persons interested afforded the opportunity to present their
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views and, obdectiohs� to the granting of said'- petition' and,
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Whereas, Ci Counc U"4f.Pri'or Lake has determined that the vacation of said
roadway, wok} ( d be, „i the public interest. °
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(612) 44 �29'D1iKQTA STREET 3. P: O. BOX 350 PRIOR LAKE, K
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.Sa ., FI � . •, T .. iuiff a . §, .. x W,:f n� f
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..City pursuant,to Company's specifications suitable for the
operations described above and`to a revenue agreement. between
the City and Company upon 'such terms and conditions With
provisions for revision from time to time as , necessary so as
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to produce income and revenues sufficient to pay, when 4iie, the
principal, of and interest on th4`Note in the total
' approximately
4 principal
amaunt of $325,000'to'be issued pursuant to -, the
Act to finance the acquisition,construction and equipping of
the Project; and said agreement may also provide for the entire
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interest of Company therein to be mortgaged to the purchases of
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the Revenue Bonds; and the City+ hereby undertakes preliminarily
to issue its Note in accordance with such terms and conditions:
P V °2: On the basis of information available this Council
it appears, and „the "Council hereby fifids,` that the Project
:. constitutes properties, "real and personal, used,.or useful in
connection with one or more revenue ;nroducingpenterrises c o , ;;
, engaged in any business 'within the meaning of Subd ~ ivisi' h ,la of
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Section 474.02`of_ the Act; that•the Project furthers,-6he
purposes stated in' Section 47401, Minnesota .Statutes; that the
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availability of the financing under the Act and wfllfAngness of
the City to furnish: such financing will be a sub"staiitial
inducement to Company, to„undertike the Project, and that the
f ' effect of the Project, if uinderiak4n, will be to encourage the'
'industry
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development-of economically, sound and commerce, " to
«assist in the' , X prevention 'of the emergence of blighted and y
marginal land, to help prever. c7Cronic unemployment, to help
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the City retain = ='and saprove` the tax base and "to provide the'
range ",of servt6l' and emplpy ent opportunities, required by the
> population, to,,help prevent Ahe movement -of talented `afid
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educated persons 'out,of the`state.anJ to areas within the State
where their servicei may not be as effectively used, to prom
more intensive development and�use of land within and adjacent
to the` "City and eventually to ir"a cease the tax base of the
community;"
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.3. The Project ° is hereby given preliminary approval k)
tie City subject to the approval;!Of the Project by tine
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Commissioner of Energy, Planning and Development (the
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C omm asioner v and subject= to i:inal, apped al by this Council,
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Company, and the' purchaser of the Note as to the. -ultimat;e
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aetailsi of the -financing of the P roject;
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assist City in achieving those objectives. The Pro ec
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will help to increase assessed valuation"of the City and
surrounding areas and help maintain a positive relationship`
between- assessed,valuation and debt and enhance the image aid
reputation of the connunity„
(e) The Project to be financed by the dote is: a
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child, learning and dhy��care facility to be located in the Cityf
, consists. of `the `accCUsition of land and the construction ,af
and
buildings and improvements,tbereon and the installation of"
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equipment' and wild result in `the employment of
additional persons to work within the new facilities;`
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advised b
y iepresenta;• d? (f) The City has 'man i
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tives of Company that con ventional, commercial'fiancing tc'�pay
the capital cost of the Project., is available only on,,, a lin3�ted
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basis and at such high costs ° of`rborrawing that the economic
feasibilit�j of" operating the Prblect, would b significant
* with
reduced; but Company? has aZao advises;. this Caiincil jthat
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"the aid of °municipal and its resulting love
rowing =east, <the Pro is economically more feasible;
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(g ) "Pursuant to a resolution of the
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Council adopted on March t _,� ,1962,E a public 'hear on the
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project was held 198�� -on pw-t� after notice wad
ublidbed, {ark materials made ,available for public inspect ' qn.
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at tb,tt'e City Hall °all as required by Minnesota Staty'�esR
Subdivision 7b" at which public hear`3fng all
S664 474.61,
those appearing who so desi red - ;td were. heard,.'
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f has either a
No public of of, the CZ,�
`" will
d�t4ct` or, indirect financial interest in the Pto pct; nor
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Any publie official either directly or indireci benefit
q�kinancially;,from the Project•
Ti#LREFQRE;, BE 17 "ttES.OLVFD lay. the City Counci "Z of the
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.NOW
City of Prior . Laike, Minnesota, as follows: ;
!� 1. The Council`kereby gives preliminary approval to the
ect
` pkopasal of Company that thq�f�City undertake the Proj
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pursuant to t`he Minnesota Municipal ,1 1ndustxial,Dewelopment Act
(Ohapter� 474 Minnesota Statutes ), „ c,614isting of` the acqui-
'within
sition construction{. and equipping of facilities the
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