HomeMy WebLinkAboutResolution - 426 - Industrial Revenue Bonds - 06/08/1971 VILLAGE OF EDEN PRAIRIE
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 426
BE IT RESOLVED, by the Council of the Village of Eden Prairie,
Hennepin County, Minnesota as follows:
WHEREAS, the 1967 session of the Minnesota Legislature enacted
Chapter 474 Minnesota Statutes entitled the Municipal Industrial Development
Act: and
WHEREAS, the purpose of this Act is the promotion, attraction,
encouragement and development of economically sound industry and commerce:
and
WHEREAS, the further purpose of the Act is to -improve the use of
marginal and undeveloped lands and increase job opportuni ti tes; and
WHEREAS, said Act grants to municipalities the authority to issue
revenue bonds and to finance the cost of construction, engineering and other
incidental expenses connected with the development of industrial property;
and
WHEREAS, such industrial bonds do not involve pledging the full faith
and credit of the municipality; and
WHEREAS, the municipality has reason to believe that certain econom-
ically sound industries are interested in leasing industrial plants constructed
under the authority of the above Act ; and
WHEREAS, there is about the municipality substantial undeveloped
industrial property.
NOW THEREFORE, be it resolved that the Council of the Village of
Eden Prairie approves of the issuance of industrial revenue bonds and shall
actively encourage economically sound companies to expand to locate within
the environs of such municipality considering the possibility of development
pursuant to the Municipal Industrial Development Act.
ADOPTED by the Village Council this 8th day of June, 1971 .
--77-
David W. Osterhol t, Mayor
ATTEST:
SEAL
Edna M. Holmgren, Clem^��