HomeMy WebLinkAbout6658-6659 (Res.)771
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RESOLUTION NO. 6658
RESOLUTION DIRECTING THE PAYMENT OF BILLS.
RESOLVED, by the City Council of the City of Stillwater, Minnesota that the
following bills are hereby audited and approved for payment, and tha- order -
checks be issued for the payment thereof:
Association of Metro. Municipalities Seminar $
Abrahamson, Wallace Mileage
Abrahamson, Wallace Uniform Allowance
Klosowsky, Bruce Uniform Allowance
Beberg, Donald Uniform Allowance
Bell, Timothy Uniform Allowance
Schreffler, Kenneth Uniform Allowance
Bosse, Robert Uniform Allowance
Miller, Leo Uniform Allowance
Dauffenbach, Larry Uniform Allowance
Swanson, Douglas Uniform Allowance
Sievert, Arthur Uniform Allowance
Anderson, Richard Uniform Allowance
Daniels, Robert Uniform Allowance
Aiple, Margaret Uniform Allowance
Seim, Gordon Uniform Allowance
Stevensen, James Uniform Allowance
Colombo, David Uniform Allowance
Barthol, Robert Uniform Allowance
Mosiman, Dan Uniform Allowance
Chial, David Uniform Allowance
Action Rental, Inc. Concrete Mix
Arrow Building Center Portland Cement
Bryan Rock Products, Inc. Lime
Coast -to -Coast Supplies
Commissioner of Revenue Sales tax
Commissioner of Revenue Fuel tax
Croixside Press Forms
Eutectic Corporation Welding Rod
F.M.E. Corporation Office supplies
Jordon Iron & Metal Co., Inc. Pipe casing
Gross Industrial Service Services
Hardware Hank Supplies
Harstad Co. Parking Meter Keys
Herman Junker Candy Co., Inc. Supplies
Hirte Tool Service Tools
Horak Trucking Stumping
Independent School Dist. #834 JHS Year Book
IBM Ribbons
Junker Sanitation Service, Inc. Dump Box
Junker Sanit.-tion Service, Inc. Lift Station
Kriesel, Nile L. Expenses
Lakeview Memorial Hospital Doctors fees
League of Minnesota Cities League dues
Leef Bros., Inc. Services
Linner Electric Co. Supplies
Metropolitan Waste Control Commission Installment
Metropolitan Waste Cortrol Commission SAC Charges
Mogren Brothers Sod
Motorola, Inc. Services
Nardini Fire Equipment Co. Services
Northern States Power Co. Services
Northwestern Bell Telephone Services
Oasis Petroleum Co. Gas and Fuel
Oswald Fire Hose Repairs
Oxford Chemicals Supplies
-Postmaster, Stillwater, Mn. Envelopes
Reed Drug Supplies
R. L. Gould & Co., Inc. Parts
St. Croix Tire Center, Inc. Repairs
ST. Paul Police Band Concert
Satellite Industries, Inc. Rental
Shelton, John H. Reimbursement
Sherin, John R. Expenses
Short -Elliott -Hendrickson, Inc. City Maps
State Treasurer Supplies
State of Minnesota Surcharges
Stillwater Book & Stationery Supplies
Stillwater Gazette Publications
(continued on page 78)
9.00
100.00
112.50
112.50
112.50
112.50
112.50
112.50
112.50
112.50
112.50
112.50
112.50
112.50
62.50
75.00
75.00
75.00
75.00
75.00
75.00
72.00
26.40
58.44
6.20
6.78
949.83
52.50
98.35
18.90
154.00
421.92
171.89
117.12
414.75
188.81
2,068.00
3.50
32.49
70.88
60.00
20.30
75.00
2,934.00
72.80
224.50
18,102.39
668.25
31.50
67.04
24.00
160.90
97.81
4,432.10
27.50
998.76
563.50
52.89
53.82
8.50
125.00
232.00
5.00
43.50
45.00
3.50
869.19
81.18
520.35
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RESOLUTION NO. 6658 - continued
Stillwater Emergency Service
Stillwater Motor Company
Superior Products
Thompson Hardware
Tri-State Drilling & Equipment
Valley Auto Supply, Inc.
Subsidy
Car Lease
Supplies
Supplies
Services
Supplies
Adopted by the Council this loth day of July, 1979
Published: July 16, 1979
Attest:
$ 1,100.00
75.00
47.40
640.31
333.75
544.82
$40,245.82
Mayor
RESOLUTION NO. 6659
RESOLUTION RECITING A PROPOSAL FOR A COMMERCIAL FACILITIES DEVELOPMENT PROJECT GIVING
PRELIMINARY APPROVAL TO THE PROJECT PURSUANT TO TIE ME JESOTA MUNICIPAL INDUSTRIAL DEVELOP-
MENT ACT AITIIREIZING THE SU1MISSICt OF AN APPLICATION FOR APPROVAL OF SAID PROJECT TO
TIE OL$PIISSION R OF SECURITIES OF UE STATE OF MINNESOTA AND AUTHORIZING THE PREPARATION
OF NECESSARY mcUtNIS AND MATERIALS IN CONNECTION WITH SAID PROJECT.
(a) The purpose of Chapter 474, Minnesota Statutes, known as the Minnesota
Nimicipal Industrial Development Act (the "Act") as found and determined by the legislature
is to promote the welfare of the state by the active attraction and encouragement and
development of economically sand industry and commerce to prevent so far as possible the
mergence of blighted and marginal lands and areas of chronic unemployment;
(b) Factors necessitating the active promotion and development of economically
sound industry and commerce are the increasing concentration of population in the metropolitan
areas and the rapidly rising increase in the amount and cost of governmental services required
to meet the needs of the increase population and the need for development of land use which
will provide an adequate tax base to finance these increased costs and access to employment
opportunities for such population;
(c) The City Council of the City of Stillwater ("the City") has received from
Stillwater Racquetball Club a general partnership consisting of Oscar L. Kern and Bill J.
Pauley (the "Company") a proposal that the City undertake to finance a Project hereinafter
described, through the issuance of a Revenue Bond or Bonds or a Revenue Note or Notes (in one
or more series) hereinafter referred to in this resolution as "Revenue Bonds" pursuant to the Act;
(d) The City desires to facilitate the selective development of the community,
retain and improve its tax base and help it provide the range of services and employment
opportunities required by its population; and said Project will assist the City in achieving
those objectives. Said Project will help to increase assessed valuation of the City and help
maintain a positive relationship between assessed valuation and debt;
(e) The Project to be financed by the Revenue Bonds is an eight court racquetball
facility to be owned by Cnpany and leased for operation and consists of the acquisition of land
and the construction of buildings and improvements thereon and the installation of equipment
therein all in the City of Stillwater, and will res'ilt in the employment of 10 additional persons
to work within the new facilities;
(continued on page 79)
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RFSOLTUION NO. 6659 - contl :Jed
(f) The City has been advised by representaives of Company that conventional,
commercial financing to pay the capital cost of the Project is available only on a limited
basis and at such high costs of borrowing that the economic feasiblity of operating the
Project would be significantly reduced. but Company has also advised this Council that with
the aid of municipal financing and its resulting low borrowing cost, the Project is economically
more feasible;
(g) Pursuant to a resolution of the City Council adopted on June 26, 1979,a public
hearing on the Project was held on July 10, 1979,after notice wes published, and materials made
available for public inspection at the City Clerk's office, all as required by Minnesota
Statutes, Section 474.01, Subdivison 7b at which public hearing all those appearing who desired
to be heard, were heard.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Stillwater, Minnesota,
as follows:
1. The Council hereby gives preliminary approval to the proposal of Company that the
City umdert tie the Project pursuant to the Minnesota MUnicipal Industrial Development Act
(Chapter 474, Minnesota Statutes), consisting of the acquisition, construction and equipping
of an eight court racquetball facility within the City pursuant to the Company's specifications
and gives preliminary approval to a revenue agreement between the City and Company upon such
terns and conditions with provisions for revision from time to time as necessary, so as to
produce income and revenues sufficient to pay, when due, the principal of and interest on the
proposed Revenue Bonds in the total principal amount of approximately $700,000 to be issued
in one or more series pursuant to the Act to finance the acquisition, construction and equipping
of said Project; and the City hereby undertakes preliminarily to issue its Revenue Bonds in
accordance with such terms and conditions;
2. 0n the basis of information available to this Council it appears, and the Council
hereby finds, that said Project constitutes properties, real and personal, used or useful in
connection with one or more revenue producing enterprises engaged in any business within the
meaning of Subdivision 1 of Section 474.02 of the Act, that the Project furthers the purposes
stated in Section 474.01, Minnesota Statutes; that the availability of the financing under
the Act and willingness of the City to furnish such financing will be a substantial imbuement
to Company to undertake the PrOjett, and that tan effect of the Project, if undertaken, will be
to encourage the development of economdcally sound industry and commerce, to assist in the pre-
vention of the emergence of blighted and marginal land, to help prevent chronic unemployment,
to help the City retain and improve its tax base and provide the range of employment opportunities
required by its population, to help prevent the movement of talented and educated persons out of
the state and to areas within the State where their services may not be as effectively used,
to promote more intsnive development and use of land within the City and to eventually increase
the City's tax base;
3. Said Project is hereby given preliminary approval by the City subject to the
approval of the Project by the Commissioner of Securities, and subject to final approval by
this Council, Company, and the purchaser of the Revenue Bonds as to the ultimate details of
the financing of the Project;
4. In accordance with Subdivision 7a of Section 474.01 Minnesota Statutes, the Mayor
of the City is hereby authorized and directed to submit the proposal for the above described
Project to the Commissioner of Securities, requesting his approval, and other officers, employees
and agents of the City are hereby authorized to provide the Camdssioner with such preliminary
information as he may require;
5. 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 Camuissioner will be paid by Company;
6. Briggs and Morgan, Professional Association, acting as bond counsel, is authorized
to assist in the preparation and review of necessary documents relating to the Project, to
consult with the City Attorney, Company and the purchaser of the Revenue Bonds as to the maturities,
interest rates and other terms and provisions of the Revenue Bonds 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 prepared pursuant hereto shall
authorize the expenditure of any municipal funds on the Project other than the revenues derived
from the Project or otherwise granted to the City for this purpose. TheRevenue Bonds
shalalltro
constitute a charge, lien or a cumbrance, legal or equitable, upon any property oB s
City except the revenue and proceeds pledged to the payment thereof, nor shall the City be subject
to any liability thereon. The holder of the Revenue Bonds shall never have the right to compel
any exercise of the taxing power of the City to pay the outstanding principal on the Revenue
Bonds or the interest thereon, or to enforce payment thereof against any property of the City.
(continued on page 80)
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RESOLUTION NO. 6659 - continued
The Revenue Bonds shall recite in substance that the Revenue Bonds, including interest
thereon, are payable solely from the revenue and proceeds pledged to the payment thereof.
The Revenue Bonds shall not constitute a debt of the City within the meaning of any
constitutional or statutory limitation;
8. In anticipation of the approval by the Camtissioner of Securities and the
issuance of the Revenue Bonds to finance all or a portion of the Project, and in order
that completion of the Project will not be unduly delayed when approved, Carpany is hereby
authorized to make such expenditures and advances toward payment of that portion of the
costs of the Project to be financed from the proceeds of the Revenue Bonds as Company
considers necessary, including, the use of interim, short-term financing, subject to reim-
bursement from the proceeds of the Revenue Bonds if and when delivered but otherwise without
liability on the part of the City;
9. The actions of the City Clerk in causing public notice of the public hearing and
in describing the general nature of the Project and estimating the principal amount of bonds
to be issued to finance the Project and in preparing a draft of the proposed application to
the Cosmissioner of Securities, State of Minnesota, for approval of the Project, which has
bean available for inspection by the public at the City Hall from and after the publication
of notice of the hearing are in all respects ratified and confined.
Adopted by the City Council of the City of Stillwater, Minnesota this loth day
of July, 1979.
Published: July 16, 1979
Attest: ,e .w`--'(-
Cityerk
Mayor
n:
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