RES 1968-16 - 0001031523
RESOLUTION NO. 16 -1968
A RESOLUT12N REGARDING MUNICIPAL INDUSTRIAL DEVELOPMENT
BE IT RESOLVED, by the Council of the City of Fridley, Anoka
County, Hinnesota, as follows:
WHEREAS, the 1967 session of the Minnesota Legislature enacted
Chapter 474 Minnesota Statutes entitled the Hunicipal Industrial
Development Act; and
WHEREAS, the purpose of this Act is the promotion,ettraction,
encouragement and development of economically sound industry and
commerce; and
WHEREAS, the further purpose of the Act is to improve the use of
marginal and undeveloped lands and improve and increase jobs for the
unemployed; and
WHEREAS, said Act grants to municipalities the authority to
issue revenue bonds and to finance the cost of construction, engineering
and other incidental expenses connected with the development of
industrial property; and
WHEREAS, such industrial bonds do not involve pledging the
full faither and credit of the city; and
WHEREAS, the City of Fridley has reason to believe that certain
economically sound industries are interested in lensing industrial
plans constructed under the authority of the above Act; and
WHEREAS,'there is in the City of Fridley substantial undeveloped
industrial property.
NOW THEREFORE, be it resolved that the City Council of the City
of Fridley approves of the principle of issuing industrial revenue bonds
and encourages economically sound companies interested in expansion
or relocation to make inquiry ncjarding the possibility of development
pursuant to the Municipal Industrial Development Act.
ADOPTED BY THE CITY COUNCIL OF THE CITY OF FRIDLEY THIS 5TH DAY
OF FEBRUARY 1968.
IAYOR - JACK 0. KIRKHAM
ATTEST:
CITY CLERK - RVIN C. BRUNSELL
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