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<br />GENERAL OBLIGATION BOND PROCEEDS <br />CONSTRUCTION GRANT <br /> <br />GRANT AGREEMENT <br />FOR THE <br />CENTERVILLE D.OWNTOWN REDEVELOPMENT <br />PROJECT <br />RDGP-07-0004-o-F1i07 <br /> <br />THIS AGREEMENT shall be effective as of March 16,2007, and is between the City of <br />Centerville, a Statutory City (the "Public Entity''), and the Minnesota Department of <br />Employment and Economic Development (DEED) (the "State Entity''): <br /> <br />RECITALS <br /> <br />A Under the provisions contained in Minn. Stat. ~ 429.021 and Minn. Stat. ~ 469.155, <br />the Public Entity has been given the authority. to construct streets, sidewalks mid parking <br />facilities, demolish structures and install street lights; and <br /> <br />B. The State Entity has, under the provisions contained in Minn. Stat. ~~ 116J.571 to <br />116J.575 created and implemented the Redevelopment Grant Program, under which it provides <br />grants to Public Entities to assist in the financing of eligible costs under Minn. Stat. ~ 116J.571, <br />subd. 3; and <br /> <br />C. Under the provisions contained in Minn. Laws ch. 258, sec. 21, subd. 6, the State of <br />Minnesota has allocated $588,900, which is to be given to the Public Entity as a giant to assist it <br />in the street, sidewalk and parking facility construction, demolition of structures and installation <br />of street lights as authorized by Minn. Stat. ~ 429.021, Minn. Stat. ~ 469.155 and Minn. Stat. ~~ <br />116J.571 to 116J.575; and <br /> <br />D. The monies allocated to fund the grant to the Public Entity are proceeds of state <br />general obligation bonds authorized to be issued under Article XI, ~ 5(a) of the Minnesota <br />Constitution; and <br /> <br />E. The Public Entity and the State Entity desire to set forth herein the provisions relating <br />to the granting of such monies and the disbursement thereof to the Public Entity. <br /> <br />IN CONSIDERATION of the grant descnoed and other provisions in this Agreement, the <br />parties to this Agreement agree as follows. <br /> <br />Article I <br />DEFINITIONS <br /> <br />Section 1.01 Defined Terms. As used in this Agreement, the following terms shall have <br />the meanings set out respectively after each such term (the meanings to be equally applicable to <br /> <br />Generic GO Bond Proceeds <br />Grant Agreement for Construction Grants <br /> <br />1 <br />RDGP-07-0004-0-FY07 <br /> <br />Ver-1212006 <br />(Gnrc GO GA-Cnstrctn Gmt) <br />