RES 1981-36 - 0000619372
RESOLUTION NO. 36 - 1981
A RESOLUTION IN OPPOSITION TO HOUSE FILE NO. 22 AND SENATE
FILE NO. 73, A BILL AMENDING THE STATE INDUSTRIAL REVENUE
BOND LAW
WHEREAS, The City presently uses the Industrial bond process to help
companies expand and develop in the City of Fridley based on sound land use
policy: and
WHEREAS, The City presently uses established criteria by which it judges the
suitability of the project prior to recommendation of Industrial Revenue
Bonding; and
WHEREAS, The Bill's requirement to submit applications to the State
Department of Finance would greatly restrict the ability of the City of
Fridley to issue Industrial Revenue bonds; and
WHEREAS, The requirement that only Industrial Revenue bonds be used in
blighted areas would greatly reduce the type of Industrial Revenue bonds the
City could issue; and
WHEREAS, It would be more desirable to retain local control of Industrial
Revenue bonds in order to more appropriately judge the impact of that
development on local commerce.
NOW, THEREFORE, BE IT RESOLVED, That the City Council of the City of Fridley,
Minnesota, hereby goes on record as opposed to House File No. 22 and Senate
File No. 73.
PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 30TH DAY
OF MARCH, 1981.
MAYOR - WILLI M J. NEE
ATTEST:
CITY - S- S DNEY C. INMAN
0091A/1271A