HomeMy WebLinkAboutResolution - 84-196 - Extending Preliminary Approval - MIDB's - Thomas Hotel Company - 08/28/1984 Member introduced the following resolu-
tion and moved its adoption :
RESOLUTION NO.
RESOLUTION EXTENDING PRELIMINARY APPROVAL
PREVIOUSLY GIVEN TO A PPOJECT UNDER THE
MUNICIPAL INDUSTRIAL DEVELOPMENT ACT .
BE IT RESOLVED by the City Council ( the "Council " ) of
the City of Eden Prairie, Hennepin County , Minnesota ( the
"City" ) , as follows :
1 . The City gave its preliminary approval on August
16 , 1983 to a project by Thomas Hotel Company ( the "Corn-
pany" ) , to construct a building on land located in the City
and to acquire and install equipment therefor to be used
as a first class hotel and related facilities ( the
"Project " ) .
2 . The City made numerous findings with respect to the
need for development within the State of Minnesota and the
City , with respect to the availability of financing for the
Project and the effect of the Project on the tax base of the
City .
3 . The findings made in that resolution are hereby
reaffirmed and the preliminary approval given the Project on
August 16 , 1983 is hereby extended by the City .
4 . In accordance with Minnesota Statutes , Section
474 . 01 , Subd. 7a the authorization and direction to the
Mayor , the Finance Director-Clerk , the City Attorney and
other officials employees and agents of the City to initiate
and assist in the preparation of documents appropriate to
the Project is hereby reaffirmed and extended.
5 . Any and all other findings and approvals given
within the resolution dated August 16 , 1983 are hereby
extended, not including the expiration date of said resolu-
tion .
6 . All commitments of the City expressed herein are
subject to the condition that on or before December 31 ,
1984 , the City and the Company shall have agreed to mutually
acceptable terms and conditions of the revenue agreement ,
the bonds , notes or other obligations and of the other
instruments and proceedings relating thereto and to the
issuance and sale of the bonds , notes or other obligations
and the sale of such bonds , notes or other obligations has
been closed by such date . If the events set forth herein do
not take place within the time set forth above, or any
- 1 -
extension thereof, and the bonds , notes or other obligations
are not sold within such time, this resolution shall expire
and be of no further effect .
.c.0
Mayor
Attest -
r ,
z -