Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />/ <br /> <br />assist the City in achieving those objectives. The Project <br />will help to increase assessed valuat~on of the City and help <br />maintain a positive relationship between assessed valuation and <br />debt and enhance the image and reputation of the community; <br /> <br />(e) The Borrower is currently engaged in the <br />practice of veterinary-medicine. The project to be financed by <br />the Revenue Bonds is a multipurpose veterninary care facility <br />to be located 1261 West county Road F in Arden Hills, Minnesota <br />and consists of the acquisition of land and the construction of <br />buildings and improvements thereon and the installation of <br />equipment therein to be initially own~d and operated by the <br />Borrower or a corporation to be established by Borrower, and <br />will result in the employment of additional persons to work <br />within the new facilities; <br /> <br />(f) The City has been advised by representa- <br />tives of Borrower that conventional, commercial financing to <br />pay the capital cost of the project is available only on a <br />limited basis and at such high costs of borrowing that the <br />economic feasibility of operating the project would be signi- <br />ficantly reduced, but Borrower has also advised this Council <br />that with the aid of municipal financing, and its resulting low <br />borrowing cost, the project is economically more feasible; <br /> <br />(g) Pursuant to a resolution of the City <br />Council adopted on October 15, 1984, a public hearing on the <br />Project was held on November 8, 1984, after notice was <br />published, and materials made available for public inspection <br />at the City Hall, all as required by Minnesota Statutes, <br />Section 474.01, Subdivision 7b at which public hearing all <br />those appearing who SO desired to speak were heard; <br /> <br />(h) No public official of the City has either a <br />direct or indirect financial interest in the Project nor will <br />any public official either directly or indirectly benefit <br />financially from the Project. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the City council of the <br />. City of Arden Hills, Minnesota, as follows: <br /> <br />1. The Council hereby gives preliminary approval to the <br />proposal of Borrower that the City undertake the project <br />pursuant to the Minnesota Municipal Industrial Development Act <br />(Chapter 474, Minnesota statutes), consisting of the acqui- <br />sition, construction and equipping of facilities within the <br />City pursuant to Borrower's specifications suitable for the <br />