HomeMy WebLinkAbout82-007CITY OF PRtI R LAKE }.
RESOLUTION 82 -7
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RESOLUTION AUTHORIZING CONTINUED ASSESSMENT DEFERMENT FOR "GREEN ACRES" PROPERTIES
Motion by: Watkins Seconded by: Busse
WHEREAS, several properties within the City of Prior Lake are utilized for the'
-- Z of f�agriculture; and o
REAS, State 'St allow property owners so engaged to apply for a "Green Acres"
sta`tu`s continues; and
WHEREAS; the City Council of the City of Prior Lake recognizes the legality and intent'
of the "Green Acres" provision, and approves the dei•e,rment of 'assessment payments
thereof.
NOW>THEREFORE, BE IT RESOLVED that the ,Mayor , and Council of the City of P�^ior Lake,
Scott County, Minnesota, authorize the continued deferment of special assessments
against all properties duly designated as "Green Acres ", with said assessments to be
calked down only as such timelthat the property is sold or developed, or for any
other reason, _the property becomes no longer eligible for a "Green Acres" designation.
BE IT FURTHER RESOLVED that the Scott County Auditor is hereby authorized to prepare
` and dispense,a corrected tax statement for each "Green Acres, "property owner who-has
incorrectly been charged a: special assessment payment.
Passed and adopted this 7th day of June 0 1, 982.
YES NO
STOCK X STOCK
BU- S X BUSSE
SCHWEICH X SCHWEICH t
THORKELSON X JHORKELSON
WATKINS ` '} X WATKINS r
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Michael A. McGuire, City Manager
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(61) "74936, JIM DAKOTA STREET S.E. P.O. 90X 359 PRIOR LAKE, MINNESOTA, U372
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STATE OF MINNESOTA,
COUNTY OF SCOTT
CITY OF PRIOR LAKE
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I, the undersigned, being the duly qualified and
acting Manager of the City of Prior Lake, Minnesota,' DO HEREBY
CERTIFY that T have compared the attached and foregoing extract'
I Of minutes with the original , thereof on . file in my office, and
the same i's a full, true and complete transcript 'f the
minutes of a meeting of the City Council of said City duly
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—called and held on the date therein.indicated, insofar as such`.
minutes relate to a resolution giving preliminary approval to a.
commercial 'facilities development project..
WITNESS my hand and the seal of said City this
day of Ap r i 1 , < 1909
City Manag r.
(SEAL)
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portion of the costs of the Project' Company considers
necessary, including the use of interim, short -term financing,
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subject to rei:r rrsei %,ent from the proceeds of the Note if and
when delivered iit otherwise without liability on the part, of
the City.
Adopted by the.City Council of the City of Prior Lake,,
Minnesota,' this 5tty day of April , 1982.
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Attests >
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City Manager
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4. In accordance with Subdivision 7a of Section 474.01'
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Minnesota Statutes, the,Mayor of the ,City is hereby authorized.
and directed to submit the proposal for the Project to the
Commissioner requesting his approval, and other officers,
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employees and agents:of the City are hereby authorised to'
provide the Commissioner with such preliminary information as
he may requires
S. Company has agreed and it is hereby determined that,'
any and all costs incurred by the City in connection with the
financing of the Project whether or not the Project is carried
to completion and whether or not approved by the Commissioner
will be paid by `Company:
6. Briggs and Morgan, Professional Association, acting as
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bond counsel, and First Corporate Services, investment bankers,,
are authorized'to assist in the preparation and revievi of
necessary documents relating to the Project, to.consult` with,,
the City Attorney, Company and the purchaser of the Note as to
the maturities, interest rates and other terms and provisions
of the Note and as to the covenants and other provisions of the
necessary documents and to submit such documents -to. the,Council
for final approval;
7: Nothing in this resolution or in the documents pre-
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pared ,pursuant hereto shall authorize the expenditure of any
municipal funds on the Project other tham the revenues derived
from the Project or otheswise�lgrantee�to the City for this
purpose.. The Note shall not constitute a charge, lien or
encumbrance,, legal or equitabl4 upon any property or funds of
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the City except the revenue and ' pledged to then payment
thereof' shall the City be subject to any liability
thereoneL The holder of the Note shall never have the right to.
compel any exerc of the taxing power of the City to pay the
outstanding principal,,on the Note the interest thereon, or .,
to enforce payment thereof against any property of the City.
The Note shall recite in substance that the Note includi J
interest thereon, is ,payable solely from the revenue and
poceeds pledged to the payment thereof. The Note shall not
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constitute a debt of the City within the'meaning any
constitutional or statutory limitation,
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8. in anticipation of the approval by the Commissioner;,
,and the s' ce�o he 'Note to finance all or a rtion of the
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Project, and in order that completion of the Project, will not
be unduly delayed when approved, Company is hereby authorized
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to make such expenditures and advances toward payment of that
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