HomeMy WebLinkAboutCity Council Resolution 1985-656CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a special _ meeting of the City Council of
the City of Plymouth, Minnesota, was held on tie —9th day of September . 1985 .
0-1 The following members were present: Mayor Davenaort, Councilmembers Nei s, Schneider,
Crain and Vasiliou
The o ow ng members were absent: none
Councilmember Schneider introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 85- 656
RESOLUTION APPROVING JOINT POWERS AGREEMENT WITH THE CITY OF GOLDEN VALLEY
WITH RESPECT TO INDUSTRIAL DEVELOPMENT REVENUE BOND ENTITLEMENT ALLOCATION
WHEREAS, Turck Multiprox, Inc. has requested industrial development revenue bond
financing in the amount of $2,800,000 from the City of Plymouth; and
WHEREAS, the City's industrial development revenue bond allocation for calendar year
1985 is not sufficient to provide needed funding for such request; and
WHEREAS, the Council deems that the request of Turck Multiprox, Inc. as recommended
In the September 6, 1965 City Manager's memorandum generally conforms to the
Council's policy on Industrial development revenue bonds; and
WHEREAS, Turck Multiprox, Inc. has approached the City of Golden Valley requesting
that Golden Valley authorize a transfer of $1,834,041 of industrial development
revenue bond allocation to the City of Plymouth for use in this request; and
WHEREAS, the City Council of the City of Golden Valley has adopted a resolution
approving a joint powers agreement which would authorize such a transfer;
NOW, THEREFORE, BE IT HEREBY RESOLVED by the City Council of the City of Plymouth,
Minnesota, that It should and hereby does authorize the Mayor and City Manager to
execute a Ooint Powers Agreement between the City of Plymouth and Golden Valley
authorizing the transfer of approximately $1,834,041 of industrial development
revenue bond allocation to the City of Plymouth.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Neils , and upon vote being taken thereon, the
following vote n favor thereof: yvenport, Councilmembers Neils, Schneider
Crain and Vasiliou
e following voted against or abstained: none
Whereupon the Resolution was declared duly passed and adopted:
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