HomeMy WebLinkAboutCity Council Resolution 1981-496Pursuant to due call and notice thereof, a special meeting of
the City Council of the City of Plymouth, Minnesota was Fe-TUon the
10th day
were present: �Maaoo
The following ffemb
of August 19 81 . The following members
Davenport, ounce members Hoyl—_ eils, Schneider and Threinen
rs we went: none
Councilmember Schneider introduced the following Resolution and
moved its adoption:
RESOLUTION NO. 81- 496
RESOLUTION RELATING TO AN INDUSTRIAL DEVELOPMENT PROJECT
FOR BROWN -CAMPBELL COMPANY; EXTENDING THE TIME OF APPROVAL
THEREFOR: AMENDING RESOLUITON NO. 80-506
BE IT RESOLVED by the City Council of the City of Plymouth, Minnesota,
as follows:
1. This council by Resolution 80-506, adopted on August 4, 1980
gave preliminary approval to a project ("Project") under the
Minnesota Municipal Industrial Development Act on behalf of
Brown-Campbel Company ("Company").
2. This council has been informed that the Company has proceeded
to construct the Project but because of the volatile state of
the municipal bond market has been unable as yet to obtain
permanent financing for the Project. The Company anticipates
receiv.ng such financing in the na-ar future.
3. This council finds that it :s necessary and desirable to the
sound financial management of the City to reaffirm its
preliminary approval of the Project but to limit the duration
of such approval until February 4, 1982.
4. Resolution 80-506 is amended to provide that the preliminary
approval granted therein shall expire on February 4, 1982.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Hoyt , and upon vote being taken thereon, the
owing voted in avorereo : Flavor Davenport. Co n .ilm mb rs Hnyt, Npils,
Schneider and Threinen
The following voted against or abstained: nnng
Whereupon the Resolution was declared duly passed and a opts