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Home My WebLink About12-14-1992 special mtg:\Iayor Donald J. Murzyn. Jr. Councilmembers Sean T. Clerkin Bruce G. Nawrocki Gary L. Peterson Robert W. Ruettimann Cit� Manager Stuart W. Anderson 'TY OF COLUMBIA HEIGHTS 590 40th Avenue N. E. � �'. '[ <��7soo �/ December 9, 1992 The following is the agenda for the Special City Council meeting and Public Hearing to be held at 6:30 PM on Monday, December 14, 1992, in the City Council Chambers, City Hall, located at 590 40th A venue NE, Columbia Heights, Minnesota. l.Roll Call 2.Purpose of Meeting The purpose of this public hearing is to consider the elimination of the Housing and Redevelopment Authority and the creation of an Economic Development Authority 3.Presentation of Information 4.Adoption of Resolutions a.Resolution 92-__ ; Creating an Economic Development Authority in Columbia Heights, Minnesota RECOMMENDED MOTION: Move to waive the reading of Resolution 92- __ , there being ample copies available for the public. RECOMMENDED MOTION: Move to adopt Resolution 92-__ , creating an Economic Development Authority in Columbia Heights, Minnesota. b.Resolution 92-__ ; Declaring the Transfer of Control, Authority, and Operation of All Housing and Redevelopment Projects RECOMMENDED MOTION: Move to waive the reading of Resolution 92- __ , there being ample copies available for the public. RECOMMENDED MOTION: Move to adopt Resolution 92-__ , declaring the transfer of control, authority, and operation of all Housing and Redevelopment projects. c.Resolution 92-__ , Transferring the Personnel of the Columbia Heights Housing and Redevelopment Authority to the Columbia Heights Economic Development Authority "SERVICE IS OUR BUSINESS'' EQUAL OPPORTUNITY EMPLOYER SPECIAL MEETING Page 2 December 9, 1992 SA/bj Attachment 92/. .. RECOMMENDED MOTION: Move to waive the reading of Resolution 92- __ , there being ample copies available for the public. RECOMMENDED MOTION: Move to adopt Resolution 92-__ , transferring the personnel of the Columbia Heights Housing and Redevelopment Authority to the Columbia Heights Economic Development Authority. d.Resolution 92-__ ; Terminating the Housing and Redevelopment Authority in Columbia Heights, Minnesota RECOMMENDED MOTION: Move to waive the reading of Resolution 92- __ , there being ample copies available for the public. RECOMMENDED MOTION: Move to adopt Resolution 92-__ , terminating the Housing and Redevelopment Authority in Columbia Heights, Minnesota. 5.Adjournment RECOMMENDED MOTION: Move to adjourn. Sincerely, Stuart Anderson City Manager RESOLUTION NO. 92 - BEING AN ENABLING RESOLUTION CREATING AN ECONOMIC DEVELOPMENT AUTHORITY IN COLUMBIA HEIGHTS, MINNESOTA WHEREAS: A hearing has been held by the City Council of Columbia Heights on December 14, 1992, at Columbia Heights, Minnesota, to determine the need and existence of an Economic Development Authority to function in such citYi and WHEREAS: Facts have been submitted to this body indicating that there is a need for an Economic Development Authority to function in the City of Columbia Heights, Minnesotai and NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLUMBIA HEIGHTS, MINNESOTA That the City Council of the City of Columbia Heights, Minnesota, pursuant to Chapter 469 of the Minnesota State Statutes, hereby finds, determines and declares: 1.It is hereby declared that an Economic DevelopmentAuthority shali exist in said City, as of 12:00 a.rn.,January 1, 1993, and such Authority shall exercise thepowers, subject to the limitations of this resolution, asprovided in Minnesota State Statute 469.090 to 469.108,or other law. Further, the Authority shall specificallybe granted the exercise of the powers granted pursuant toMinnesota State Statute 469.102, 469.103, 469.105 and469.107. 2.It is hereby dee 1 a red that an Economic DevelopmentAuthority shall exist in said city, as of 12:00 a.m.January 1, 1993, and such Authority, subject to thelimitations of this resolution, as provided in MinnesotaState Statute 469.001 to 469.047, or other law. Further,the Authority shall specifically be granted the exerciseof the powers granted pursuant .to Minnesota State Statute469.029, 469.033, 469,034 and 469.042. 3.It is hereby declared that an Economic DevelopmentAuthority shall exist in said City, as of 12:00 a.m.,January 1, 1993, and such Authority shall exercise thepowers pursuant to city development, districts, subjectto the limitations of this resolution, as provided inMinnesota State Statute 469.124 to 469.134, or other law.Further, the Authority shall specifically be granted theexercise of the powers granted pursuant to MinnesotaState Statute 469.129 and 469.130. Resolution No.92 -page 2 4.It is hereby declared that said Economic DevelopmentAuthority shall be governed by a board of commissioners("Commissioners") consisting of five members and the CityCouncil of Columbia Heights shall serve as theCommissioners. The terms of the Commi ss i one rs sha 11coincide with their terms of office as members of theCity Counci 1 in that such term shal 1 expire with theexpiration of the Council term being served. 5.It is hereby declared that all financial books, records,accounts, and reports of the Economic DevelopmentAuthority shall be prepared, presented and retained bythe Finance Department of the City, which departmentsh a l 1 have t he resp on s i bi 1 i t y for a dm i n i s t er i n g thefinances of the Economic Development Authority as it doesthe finances of the City. 6.It is hereby declared that the Economic DevelopmentAuthority shall be subject to the following limitations: (a)That the authority shall not exercise any of thepowers contained in Minnesota State Statutes 469.001 to469.047, 469.090 to 469.108, and 469.124 to 469.134 without prior consent to the City Council; (b)That, except when previously pledged by theauthority, the City Council may by resolution require theauthority to transfer any portion of the reservesgenerated by activities of the authority that the CityCouncil determines is not necessary for the successfuloperation of the authority to the debt service fund ofthe City, to be used solely to reduce tax levies forbonded indebtedness of the City; (c)That the sale of all bonds or obligations issued bythe authority be approved by the City Counci 1 beforeissuance; (d)That the authority follow the budget process for citydepartments as provided by the City.and as implemented bythe City Council and the Mayor; (e)That all official actions of the authority should beconsistent with the adopted comprehensive plan of theCity, and any official controls implementing thecomprehensive plan; (f)That the authority submit all planned activities forinfluencing the action of any other governmental agency,subdivision, or body of the City Council for approval; Resolution No. 92 -page 3 (g)That the authority submit its administrative structure and management practices to the City Council for approval. Passed this 14th day of December, 1992. Offered by: Seconded by: Ro 11 ca 11 : Mayor Donald J. Murzyn, Jr. Jo-Anne Student, Council Secretary RESOLUTION NO. 92 - BEING A RESOLUTION DECLARING THE TRANSFER OF CONTROL, AUTHORITY AND OPERATION OF ALL HOUSING AND REDEVELOPMENT AUTHORITY PROJECTS BE IT RESOLVED, by the City Counci 1 of Columbia Heights, Minnesota, 1.That the control, authority and operation of any property,project or program authorized by Minnesota State Statute469.001 to 469.047 or any other project or program authorizedor undertaken by the Columbia Heights Housing andRedevelopment Authority is hereby transferred, as of 12:00a.m. January 1, 1993, to the Columbia Heights EconomicDevelopment Authority, created pursuant to Minnesota StateStatute 469.090 to 469.108, or other law, and Resolution No.92 -of the Columbia Heights City Council. 2.That the Columbia Heights Economic Development Authorityshall covenant and pledge to perform the terms, conditions,and covenants of the bond indenture or other agreementsexecuted for the security of any bonds issued by the ColumbiaHeights Housing and Redevelopment Authority. 3.That all rights of the Columbia Heights Housing andRedevelopment Authority against any persons, firms, orcorporations, as they pertain to the projects herein describedin subsection 1 of this resolution, shall accrue to and beenforced by the Columbia Heights Economic DevelopmentAuthority. 4.That all the debts, obligations, and liabilities of theColumbia Heights Housing and Redevelopment Authority, as theypertain to the projects herein described in subsection 1 ofthis resolution, shall be enforceable against the ColumbiaHeights Economic Development Authority. Passed the 14th day of December, 1992. Offered by: Seconded by: Roll call: Mayor Donald J. Murzyn, Jr. Jo-Anne Student, Council Secretary RESOLUTION NO. 92 - BEING A RESOLUTION TRANSFERRING THE PERSONNEL OF THE COLUMBIA HEIGHTS HOUSING AND REDEVELOPMENT AUTHORITY TO THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY BE IT RESOLVED, by the City Council of Columbia Heights, Minnesota, 1.That al 1 employees under the direction, supervision, orcontrol of the Columbia Heights Housing and RedevelopmentAuthority shall be transferred, as of 12:00 a.m. January 1,1993, to and placed under the direction, supervision, andcontrol of the Columbia Heights Economic DevelopmentAuthority. 2.That such placement of any employee under the direction,supervision, and control of the Columbia Heights EconomicDevelopment Authority does not affect the rights of anyemployees of the Columbia Heights Housing and Redevelopmentauthority, including any rights existing under a collectivebargaining agreement or fringe benefit plan. The employeesshall become employees of the Columbia Heights EconomicDevelopment Authority. 3.That the Columbia Heights Economic Development Authoritymay employ an executive director, a chief engineer, othertechnical experts and agents, and other employees as it mayrequire, and determine their duties, qualifications andcompensation. Passed this 14th day of December, 1922. Offered by: Seconded by: Roll call: Mayor Donald J. Murzyn, Jr. Jo-Anne Student, Council Secretary RESOLUTION NO. 92 - BEING A RESOLUTION TERMINATING THE HOUSING AND REDEVELOPMENT AUTHORITY IN COLUMBIA HEIGHTS, MINNESOTA WHEREAS WHEREAS A hearing has been held by the City Council of Columbia Heights, on December 14, 1992, at Columbia Heights, Minnesota, to determine the need of an Economic Development Authority to function in said city and the termination of the Columbia Heights Housing and Redevelopment Authority; Facts have been submitted to this body showing that there is a need for an Economic Development Authority to function in the City of Columbia Heights and that said Authority is empowered to act as both an economic development authority and a housing and redevelopment authority; THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLUMBIA HEIGHTS, MINNESOTA, that there is no longer a need for Housing and Redevelopment Authority to function in Columbia Heights, Minnesota and that said Housing and Redevelopment Authority is hereby terminated, as of 12:00 a.m. January 1, 1993, and its power, authority, and control, transferred, as of 12:00 a.m. January 1, 1993, to t�e Columbia Heights Economic Development Authority. Passed this 14th day of December, 1992 Offered by: Seconded by: :Roll call: Mayor Donald J. Murzyn, Jr. Jo-Anne Student, Council Secretary Mayor Donald J. Murzyn, Jr. Council members Sean T. Clerkin Bruce G. Nawrocki Gary L. Peterson Robert W. Ruettimann City Manager Stuart W. Anderson CITY OF COLUMBIA HEIGHTS 590 40th Avenue N. E. Columbia Heights, MN 55421-3878 (612)782-2800 December 9, 1992 The following is the agenda for the Special City Council meeting and Public Hearing to be held at 6:30 PM on Monday, December 14, 1992, in the City Council Chambers, City Hall, located at 590 40th A venue NE, Columbia Heights, Minnesota. 1.Roll Call 2.Purpose of Meetinl? The purpose of this public hearing is to consider the elimination of the Housing and Redevelopment Authority and the creation of an Economic Development Authority 3.Presentation of Information 4.Adoption of Resolutions a.Resolution 92-__ ; Creating an Economic Development Authority in Columbia Heights, Minnesota RECOMMENDED MOTION: Move to waive the reading of Resolution 92- __ , there being ample copies available for the public. RECOMMENDED MOTION: Move to adopt Resolution 92-__ , creating an Economic Development Authority in Columbia Heights, Minnesota. b.Resolution 92-__ ; Declaring the Transfer of Control, Authority, and Operation of All Housing and Redevelopment Projects RECOMMENDED MOTION: Move to waive the reading of Resolution 92- __ , there being ample copies available for the public. RECOMMENDED MOTION: Move to adopt Resolution 92-__ , declaring the transfer of control, authority, and operation of all Housing and Redevelopment projects. c.Resolution 92-__ , Transferring the Personnel of the Columbia Heights Housing and Redevelopment Authority to the Columbia Heights Economic Development Authority "SERVICE IS OUR BUSINESS" EQUAL OPPORTUNITY EMPLOYER SPECIAL MEETING Page 2 December 9, 1992 SA/bj Attachment 92/ ... RECOMMENDED MOTION: Move to waive the reading of Resolution 92- __ , there being ample copies available for the public. RECOMMENDED MOTION: Move to adopt Resolution 92-__ , transferring the personnel of the Columbia Heights Housing and Redevelopment Authority to the Columbia Heights Economic Development Authority. d.Resolution 92-__ ; Terminating the Housing and Redevelopment Authority in Columbia Heights, Minnesota RECOMMENDED MOTION: Move to waive the reading of Resolution 92- __ , there being ample copies available for the public. RECOMMENDED MOTION: Move to adopt Resolution 92-__ , terminating the Housing and Redevelopment Authority in Columbia Heights, Minnesota. 5.Adjournment RECOMMENDED MOTION: Move to adjourn. Sincerely, Stuart Anderson City Manager AGENDA --Meeting December a, 1992 to discuss the HRA/EDA Item 1: Background and the purpose in creating an Economic Development Authority. A.Purpose 1.Increased Accountability 2.Increased Efficiency and Decreased Costs B.Establishment C.Transfer of Authority 1.Projects 2.Personnel D.· Powers of Authority E.Limitations on Power F.Bonds 1.General Obligation 2.Revenue Bonds G.Tax Levies H.Sale of Property I.Advantages of EDA Item 2: Proposed Resolutions MEETING DECEMBER 8 1 1992 BACKGROUND INFORMATION REGARDING CREATION OF EDA PURPOSE The City of Columbia Heights was interested in finding a way to increase the accountability of the Housing and Redevelopment Authority. The Council was specifically interested in creating elected official accountability. They were concerned that the current organizational structure consisting of an appointed board of commissioners lacked accountability to the general public. The city council requested that the city attorney's office investigate a method by which the city council could be made the commissioners. of the Housing Authority and still continue the current Authority's functions. Such a move would thereby create accountability from the HRA, for its actions, to the general public. In addition, the city council may streamline the operation of ·the EDA by combining the functions of the authority with other city department operations wherever possible. CREATION OF AN ECONOMIC DEVELOPMENT AUTHORITY Under Minn. Stat.§ 469.090 to 469.108 a city may consolidate the functions of a housing and redevelopment authority and an economic development authority. The city, may, by resolution transfer the control, authority, and operation of any project as defined in section 469.001 to 469.047 located within the city, from the agency that established the project to the economic development authority. The economic development authority may exercise all of the powers that the governmental unit establishing the project could exercise with respect to the project. Minn. stat. § 469.04(2). By establishing an economic development authority, the city council may dissolve the current housing and redevelopment authority, but yet, retain the ability to perform the functions and projects previously administered by the HRA. Establishment A city may by adopting an enabling resolution, create a economic development authority which has the powers contained in Minn. statute§ 469.090 to 469.108 and the powers of a housing and redevelopment authority under Minn. Statute § 469.001 to 469.047. The creation of an authority by a city must be by written resolution. Before adopting the resolution, the city must hold a public hearing with the required statutory notice given. Stat. § 469.093(1). Transfer of Authority Minn. The city may, by resolution transfer, the control, authority and operation of any project defined in section 469.174(8) or any other project authorized by sections 469.001 to 469.047 (housing and redevelopment authority), or 469.124 to 469.134 (city development districts), that are within the city, from the agency that established it to the economic development authority. Subsequent the transfer, the economic development authority may exercise all of the powers that the agency establishing the project could have exercised. Minn. Stat.§ 469.094(2). Once a project has been transferred to the economic 2 development authority, the authority shall be held to perform the terms, conditions, and covenants of the bond indenture or other agreements executed for the securi ty of any bonds issued by the governmental subdivision that originated the project. In addition, the economic development authority may exercise all the powers necessary to perform the terms and conditions of any indenture or other agreements executed for the security of the bonds. They shall also become obligated on the bonds when the project or program is transferred pursuant to Minn. Statute§ 469.094(2). Transfer of Personnel and Appointment of Co.mmissioners The city council may, by resolution, place any employees of the housing and redevelopment authority under the direction, supervision, or control of the economic development authority. Transfer of employees to the economic development authority does not affect the rights of the employee, including those that may exist under collective bargaining agreements or fringe benefit plans. Minn. Stat. § 469.094(3). The enabling resolution may provide that the members of the city council shall serve as the commissioners of the authority. Minn. Stat. § 469.095(2) (d). The enabling resolution may further provide for the appointment of additional commissioners in excess of the number of city council members. Minn. Stat. § 469. 095 ( 2) ( e) . Normally, commissioners would be appointed for six year terms, however, the council may set the term of the commissioners who are members of the city council to coincide with their term of office as members of the city council. Minn stat. § 3 469.095(2) (f). Powers of the Authority Pursuant to Minn. Stat. § 469.101: 1.An authority may create and define the boundaries of economic development districts at any place or places within the city if the district satisfies the requirements of§ 469.174(10) (tax increment financing), except that the district boundaries must be contiguous, and may use the powers granted in § 4 69. 09 o to 469.108 to carry out its purpose. First, however, the authority must hold a public hearing on the matter. 2.The authority may acquire by lease, purchase, gift, devise, or condemnation proceedings the needed rights and interest in properties to create economic development districts. 3.They may sign options to purchase, sell or lease property. 4.The authority has the right to acquire property through the use of eminent domain or if it is authorized under it's city's charter, by condemnation. 5.The economic development authority may contracts for the purpose of economic development, powers given it in§ 469.090 to 469.108. enter into within the 6.An authority may be a partner or a limited partner in a partnership whose purpose is consistent with that of the authority. 7.An authority may acquire the rights of an easement for the development of an economic district. 8.The economic development authority may by the necessary supplies it needs to carry out its purposes. 4 9.The economic development authority may accept money, land, or any other assistance in any form from, the federal or state government or a subdivision thereof, in order to acquire and develop an economic development district. 10.The authority may sell or lease land held by it for development in economic development districts. 11.The economic development authority may apply to the board defined in 19 u.s.c. 81a, for the right to use the powers provided in 19 U.S.C. 81a -81u (foreign trade zone). An authority may apply for the powers in conjunction with another authority. 12.The economic development authority may exercise the powers and duties of a redevelopment agency under § 469 .152 to 469.165 (municipal industrial development), for the purposes of a housing and redevelopment authority(§ 469.001 to 469.047) or an economic development authority(§ 469.090 to 469.108). The authority may also use the powers and duties enumerated in § 469.001 to 469.047 or 469.090 to 469.108 for a purpose in § 469.152 to 469.165. 13.The authority may maintain and operate public facilities (i.e. parking ramps) to promote economic development in an economic development district. 14.An economic development authority may cooperate with or act as an agent for the federal or the state government, or a state public body, or an agency or instrumentality of a government or a public body to carry out the powers enumerated in § 469.090 to 469.108, or any other federal, state, or local law relating to 5 economic development district improvement. 15.An authority may study and analyze economic development needs in the city and ways to meet those needs within the city, including, patterns for land use,and community and industrial growth. Additionally, an may disseminate information on economic development within the city. 16.An authority may, to further an authorized purpose: (1)join an official, industrial, commercial,or trade association, or another organizationconcerned with economic development (2) have areception of officials, who may contribute toadvancing the city and its economicdevelopment, and (3) carry out other publicrelations activities to promote the city andits economic development. 17.The authority may accept conveyances of land from other public agencies or other units of government, if the land may be properly used by the authority to promote economic development in an economic development district. 18.An authority may carry out the laws relating to and enabling economic development to develop and improve the lands in an economic development district to make it suitable and available for economic development uses and purposes. 19.After authorizing bonds under the appropriate sections, an authority may borrow to provide money immediately required for the bond purpose. The amount borrowed, however, must not exceed the amount of the bonds (see§ 469.101(19)). 20.the proceeds of obligations issued by an authority under §469 .103 (revenue bonds) and temporary loans as described in § 469.101(19), may be used to make or purchase loans for economic 6 development facilities that the authority believes will require financing (see§ 469.101(20). 21.Upon delegation by a municipality an authority may exercise the delegated powers in relation to mined underground space development (see§ 469.135 to 469.141). 22.An authority may sell, at private or public sale, any note, mortgage, lease, sublease, lease purchase, or other instrument or obligation evidencing or securing a loan for economic development purposes to a business, for-profit or nonprofit organization, or an individual. 23.Not withstanding any contrary law, the authority may participate with public or private corporations or other entities, whose purpose is to provide seed or venture capital to small businesses that have facilities located or to be located in the economic development district (see 469.101(23)). Limits on Powers The enabling resolution approved by the city council may impose the following limits upon the powers and actions of the authority: 1.The authority must obtain prior approval from the city council before exercising the specified powers contained in sections 469.001 to 469.047, 469.090 to 469.108 and 469.124 to 469.134. 2.The city council may require the authority to transfer any portion of the reserves generated by the authority, not previously 7 pledged, to the debt service fund of the city to be used solely to reduce tax levies for bonded indebtedness of the city. 3.The city may require that the sale of all bonds or obligations issued by the authority be approved by the city prior to issuance. 4.The resolution may require that the authority follow the budget process required for city departments. 5.The city may require that all official actions of the authority are consistent with the comprehensive plan of the city. 6.The city may require that the authority submit all planned activities for influencing the action of any other governmental agency, subdivision, or body to the council for approval. 7.They may require that the authority submit their administrative structure and management practices to the council for approval. a.The council may include in the enabling resolution any other limitation or control deemed necessary. Minn.· stat. § 469.092(1). The enabling resolution may be modified at any time provided that the limitations imposed are not applied in such a manner as to impair the security of any bonds issued or contracts executed before the modification is imposed. In addition, the council must not modify any limit in effect at the time any bonds or obligations are issued or contracts executed to the detriment of the holder of the bonds or obligations, or any contracting party. Modifications must be made in compliance with the procedural requirements set out 8 in section 469.093. Minn. Stat. 469.092(2), (3), and (5). Bonds General Obligation Bonds§ 469.102 An economic development authority may issue general obligation bonds in the principal amount authorized by a two-thirds majority vote of the city council. The bonds may be issued in anticipation of income from any source. They may be issued: ( 1) to secure funds needed to pay for acquired property, ( 2) for any other purpose authorized by sections 469.090 to 469.108. Minn Stat. § 469.102(1). The bonds must be secured by the pledge of the full faith, credit, and resources of the issuing authority's city. The authority may pledge the full faith, credit, and resources of the city only if the city specifically authorizes them to do so. An authority that issues a bond under§ 469.102, shall, before issuing them levy a tax for each year on the taxable property in the authority's city. The tax must be for at least five percent more than the amount required to pay the principal and interest on the bonds as the principal and interest mature. the tax must be levied annually until the principal and interest are paid in full. Minn Stat. § 469.102(5). Revenue Bonds§ 469.103 An economic development authority may, by resolution decide to issue revenue bonds. They may be issued to provide funding for the acquisition of land, to purchase of construct facilities, to purchase, construct, install, or furnish capital equipment to operate a facility for economic development of any kind, or to pay 9 to extend or enlarge any project under the authority's control. Minn. Stat.§ 469.103(1). In issuing general obligation or revenue bonds, the authority may secure the payment of the principal and the interest on the bonds by a pledge or lien on authority revenue. The revenue must come from the facility to be acquired, constructed, or improved with the bond proceeds or from other facilities named in the bond authorizing resolutions. The authority may also secure the payment with its promise to impose, maintain, and collect enough rentals, rates, and charges, for the use and occupancy of the facilities and for services furnished in connection with the use and occupancy of the facilities. Revenues pledged by the authority must not be used or pledged for any other authority purpose or to pay any other bonds issued under this section or under section 469.102, unless the other use or pledge is spec ifically authorized in the bond authorizing resolutions. Revenue bonds issued under§ 469.103 are not debt of the authority's city nor a pledge of that city's full faith and credit. The bonds are payable only from project revenue as described in§ 469.103. Obligations secured or payable from tax increment revenues and issued pursuant to § 469 .102 or § 469. 103 are subject to the provisions of§ 469.178, dealing with tax increment bonding Tax Levies A city may, at the request of the authority, levy a tax for the benefit of the authority. The tax must not be more than 10 0.01813 percent of taxable market value. The tax must be paid by the city treasurer to the treasurer of the authority and the money is to be spent only by the authority. A city may increase its levy in accordance with section 4 69. 107 ( 2) . Minn. Stat. § 4 69. 107. Secondly, an authority that issues bonds under § 469 .102 must before issuing them levy a tax. "An authority that issues bonds under this section [469.102], shall before issuing them, levy a tax for each year on the taxable property in the authority's city. the tax must be for at least five percent more than the amount required to pay the principal and interest on the bonds as the principal and interest mature. The tax must be levied annually until the principal and interest are paid in full." Minn. Stat. § 469.102(5). Sale of Property An economic development authority may sell or convey any property under its control within a city or economic district if it determines that the sale or conveyance is in the best interest of the city or district, and that the sale furthers its purpose of economic development. Minn Stat.§ 469.105(1). Prior to the sale of any property, the authority must hold a hearing on the sale. At the hearing a taxpayer may testify for or against the sale. The authority is required to give proper notice of the hearing, at least ten, but not more than twenty days before the proposed hearing. Minn. Stat.§ 469.105(2). The authority shall make its findings, as to the proposed sale, known within thirty days of the hearing. A taxpayer may 11 appeal the authority's decision by filing a notice of appeal with the district court in the city or economic development district's county and serving notice on the authority's secretary within twenty days after the decision of the authority was entered. The only grounds for filing an appeal is that the actions of the authority were arbitrary, capricious, or contrary to law. Minn. Stat. § 469.105(3). There are specific terms and conditions for the sale of property which can be found in detail at Minn. Stat. § 469.105. ADVANTAGES OF CREATING ECONOMIC DEVELOPMENT AUTHORITY There are many advantages that will accrue to the City of Columbia Heights as a result of establishing an economic development authority. First, the newly created EDA will have all of the powers of the existing HRA, however, it will also have the power to become a limited partner in economic development ventures, to participate in certain public relations activities, to exercise any of the delegated powers in connection with mined underground space development, it may supply small business capital, and it may apply for foreign trade zone powers with the federal government. Additionally, the EDA may be organized in a manner consistent with other city departments. This will streamline its structure and reduce costs. The EDA may take advantage of city services and facilities. The budgetary process and accounting procedures will be in accordance with other city departments. Another significant advantage is the fact that the EDA commissioners may be members of the city council. This will significantly increase the 12 accountability of the EDA to the general public. 13 RESOLUTION NO. 92 - BEING AN ENABLING RESOLUTION CREATING AN ECONOMIC DEVELOPMENT AUTHORITY IN COLUMBIA HEIGHTS, MINNESOTA WHEREAS: A hearing has been held by the City Council of Columbia Heights on December 14, 1992, at Columbia Heights, Minnesota, to determine the need and existence of an Economic Development Authority to function in such citYi and WHEREAS: Facts have been submitted to this body indicating that there is a need for an Economic Development Authority to function in the City of Columbia Heights, Minnesotai and NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLUMBIA HEIGHTS, MINNESOTA That the City Council of the City of Columbia Heights, Minnesota, pursuant to Chapter 469 of the Minnesota State Statutes, hereby finds, determines and declares: 1.It is hereby declared that an Economic DevelopmentAuthority shall exist in said City, as of 12:00 a.m.,January 1, 1993, and such Authority shal 1 exercise thepowers, subject to the limitations of this resolution, asprovided in Minnesota State Statute 469.090 to 469.108,or other law. Further, the Authority shall specificallybe granted the exercise of the powers granted pursuant toMinnesota State Statute 469.102, 469.103, 469.105 and469.107. 2.It is hereby declared that an Economic DevelopmentAuthority shall exist in said city, as of 12:00 a.m.January 1, 1993, and such Authority, subject to thelimitations of this resolution, as provided in MinnesotaState Statute 469.001 to 469.047, or other law. Further,the Authority shall specifically be granted the exerciseof the powers granted pursuant to Minnesota State Statute469.029, 469.033, 469,034 and 469.042. 3.It is hereby declared that an Economic DevelopmentAuthority shall exist in said City, as of 12:00 a.m.,January 1, 1993, and such Authority shall exercise thepowers pursuant to city development, districts, subjectto the limitations of this resolution, as provided inMinnesota State Statute 469.124 to 469.134, or other law.Further, the Authority shall specifically be granted theexercise of the powers granted pursuant to MinnesotaState Statute 469.129 and 469.130. Resolution No.92 -page 2 4.It is hereby dee 1 a red that said Economic Deve 1 oprnen tAuthority shall be governed by a board of commissioners("Commissioners") consisting of five members and the CityCouncil of Columbia Heights shall serve as theCommissioners. The terms of the Commissioners shallcoincide with their terms of office as members of theCity Counci 1 in that such term shal 1 expire with theexpiration of the Council term being served. 5.It is hereby declared that all financial books, records,accounts, and reports of the Economic DevelopmentAuthority shall be prepared, presented and retained bythe Finance Department of the City, which departmentsh a 1 1 have t he resp on s i b i 1 i t y for a dm i n i s t er i n g thefinances of the Economic Development Authority as it doesthe finances of the City. 6.It (s hereby declared that the Economic DevelopmentAuthority shall be subject to the following limitations: (a)That the authority sha 11 not exercise any of thepowers contained in Minnesota State Statutes 469.001 to469.047, 469.090 to 469.108, and 469.124 to 469.134 without prior consent to the City Council; (b)That, except when previously pledged by theauthority, the City Council may by resolution require theauthority to transfer any portion of the reservesgenerated by activities of the authority that the CityCouncil determines is not necessary for the successfuloperation of the authority to the debt service fund ofthe City, to be used solely to reduce tax levies forbonded indebtedness of the City; (c)That the sale of all bonds or obligations issued bythe authority be approved by the City Council beforeissuance; (d)That the authority follow the budget process for citydepartments as provided by the City.and as implemented bythe City Council and the Mayor; (e)That all official actions of the authority should beconsistent with the adopted comprehensive plan of theCity, and any official controls implementing thecomprehensive plan; (f)That the authority submit all planned activities forinfluencing the action of any other governmental agency,subdivision, or body of the City Council for approval; Resolution No. 92 -page 3 (g)That the authority submit its administrativestructure and management practices to the City Councilfor approval. Passed this 14th day of December, 1992. Offered by: Seconded by: Roll call: Mayor Donald J. Murzyn, Jr. Jo-Anne Student, Council Secretary RESOLUTION NO. 92 - BEING A RESOLUTION DECLARING THE TRANSFER OF CONTROL, AUTHORITY AND OPERATION OF ALL HOUSING AND REDEVELOPMENT AUTHORITY PROJECTS BE IT RESOLVED, by the City Council of Columbia Heights, Minnesota, 1.That the control, authority and operation of any property,project or program authorized by Minnesota State Statute469.001 to 469.047 or any other project or program authorizedor undertaken by the Columbia Heights Housing andRedevelopment Authority is hereby transferred, as of 12: 00a.m. January 1, 1993, to the Columbia Heights EconomicDevelopment Authority, created pursuant to Minnesota StateStatute 469.090 to 469.108, or other law, and Resolution No.92 -of the Columbia Heights City Council. 2.That the Columbia Heights Economic Development Authorityshall covenant and pledge to perform the terms, conditions,and covenants of the bond indenture or other agreementsexecuted for the security of any bonds issued by the ColumbiaHeights Housing and Redevelopment Authority. 3.That all rights of the Columbia Heights Housing andRedevelopment Authority against any persons, firms, orcorporations, as they pertain to the projects herein describedin subsection 1 of this resolution, shall accrue to and beenforced by the Columbia Heights Economic DevelopmentAuthority. 4.That all the debts, obligations, and liabilities of theColumbia Heights Housing and Redevelopment Authority, as theypertain to the projects herein described in subsection 1 ofthis resolution, shall be enforceable against the ColumbiaHeights Economic Development Authority. Passed the 14th day of December, 1992. Offered by: Seconded by: Roll call: Mayor Donald J. Murzyn, Jr. Jo-Anne Student, Council Secretary RESOLUTION NO. 92 -. BEING A RESOLUTION TRANSFERRING THE PERSONNEL OF THE COLUMBIA HEIGHTS HOUSING AND REDEVELOPMENT AUTHORITY TO THE COLUMBIA HEIGHTS ECONOMIC DEVELOPMENT AUTHORITY BE IT RESOLVED, by the City Council of Columbia Heights, Minnesota, 1.That all employees under the direction, supervision, orcontrol of the Columbia Heights Housing and RedevelopmentAuthority shall be transferred, as of 12:00 a.m. January 1,1993, to and placed under the direction, supervision, andcontrol of the Columbia Heights Economic DevelopmentAuthority. 2.That such placement of any employee under the direction,supervision, and control of the Columbia Heights EconomicDevelopment Authority does not affect the rights of anyemployees of the Columbia Heights Housing and Redevelopmentauthority, including any rights existing under a collectivebargaining agreement or fringe benefit plan. The employeesshall become employees of the Columbia Heights EconomicDevelopment Authority. 3.That the Columbia Heights Economic Development Authoritymay employ an executive director, a chief engineer, othertechnical experts and agents, and other employees as it mayrequire, and determine their duties, qualifications andcompensation. Passed this 14th day of December, 1922. Offered by: Seconded by: Ro 11 ca 11 : Mayor Donald J. Murzyn, Jr. Jo-Anne Student, Council Secretary RESOLUTION NO. 92 - BEING A RESOLUTION TERMINATING THE HOUSING AND REDEVELOPMENT AUTHORITY IN COLUMBIA HEIGHTS, MINNESOTA WHEREAS WHEREAS A hearing has been held by the City Council of Columbia Heights, on December 14, 1992, at Columbia Heights, Minnesota, to determine the need of an Economic Development Authority to function in said city and the termination of the Columbia Heights Housing and Redevelopment Authority; Facts have been submitted to this body showing that there is a need for an Economic Development Authority to function in the City of Columbia Heights and that said Authority is empowered to act as both an economic development authority and a housing and redevelopment authority; THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLUMBIA HEIGHTS, MINNESOTA, that there is no longer a need for Housing and Redevelopment Authority to function in Columbia Heights, Minnesota and that said Housing and Redevelopment Authority is hereby terminated, as of 12:00 a.rn. January 1, 1993, and its power, authority, and control, transferred, as of 12:00 a.m. January 1, 1993, to the Columbia Heights Economic Development Authority. Passed this 14th day of December, 1992 Offered by: Seconded by: Ro 1 1 ca 11 : Mayor Donald J. Murzyn, Jr. Jo-Anne Student, Council Secretary ECONOMIC DEVELOPMENT §4�9.()93 :[.-469,092. Limitofpowers ··-.·-··· .,,-:.J·,:,·, .. :, ,· ... ,.·:·,� .( •t:Subdlvision 1,:: :neeolutlon. The enabling resolution may impose the .following limits ; .upon the actions of the authority: .. ··· ·,··· · · : -· -·· ·::·.· ... :· .. ,·-.·, .. ,=.·· .fl·"-I • • , O "• •, • O ; . ·,:-(1) that the ·authority must not-·exercise any specified po\vers contained in sections ., · 469.001 to 469.047, 469.090 to 469.108; _and 469.124 to 469.134 or that the ·authority must : ·not exercise any powers without the prior approval of the city council;.·.· .,;;; · , ... _.;_ .. (2) that, except _when previously pledged by the· authority,· the city" c�uncil inay"bS, l.! resolution ·require t�e authority _to transfer any portion of the reserv�s _genei:ated by ·:, activities··· of the-'authority. 'that ·:thi{'city. council determines is·· n"ot :·necessary <for ·:the : ; successful operation 'of the authority' to"the debt service fund of the city, to be·used solely ,/'to reduce tax levies for bonded indebtedness of the city;:-· . .-.::,c, .. _. · .,;(,,_,.;i;:• :· ;:-.:•,i.:.:.:;; ... · (3) that the· sale of all bonds· or obligations issued by_ the iuthority be_'approv�d by the -city council before issuance· -· .· .· · ·. . ··.,.·.· ·: �::·;,_:·1:::·.::,!," •: .,.:,.··;:;:.· • ., 1 I " • • • . I � •• • • ; • • •• • ' I. • • ••••• .,. •, • • • •. ... I . -: (4) that the authority follow the budget process for city departments as provided by the city _an�_as implemented by the cit;i: council and mayor; . · (5) that all official actions of the authority must be consistent with the adopted comprehensive plan of the city, and any official controls implementing the comprehensiveplan;:·:'· -"·._.· ·. · · · .. ·. · · __ · ·. _ · · . . · , .. :. :/· ,; .. , (6) that· the authority submit all planned activities. for influencing the action of any other governmental agency, subdivision, or body to the city cO(!-ncil _for approval; · · ·· · ·. (7 ) that the.authority submit its administrative str�cture and manage�ent practices to . the city. co·uncil for approval; and_: · ,:;-., .. ·-:-' • ··, .. ,; ,·.,-,.·, _-.:.,·i,;1 •.-.: :::,;-• .-;; �:-:' .• •. ·._ ;-.; .;.. ''.· :(8) 'any': other-li�-itati�n·· or; control, �stablished by th� "city� council· by' th�'. enabling t -��ol.U�t.i��·:·::�-{�: .. -; � \;:� .�·� �.�. ;:.� .. :,1·_\"_:·.\::'."-!}i �t:.( ;·:�'/.�: :;.·.�:P·::��=:_��l:��·;�,!�t\�Jt��: 1��i -1Z:�,:n��: ,: : ·:su.bd:, 2. ;;, M�dification "or'r;solu"iio·n". -The enabling �esolutfon ma:y°'be modified at.any.-: · time, subject to subdivision 5, and provided that any modification is _mad_e in -�cc�i:�ani::�·t-:�!�� ·��:�irt��i?.�·;\:·,·. ,; ... :,.�,��· ·.�·.,i/:�-�-:::. -��:. \:r�·-��· ��-.. /.�· ... ·�;-.\��:��-r, /�� .. ��;��t-�);��::��:��;��;;.:: '. I ' ;i · i.-Subd::. .. s. ;,; ·Report on.resolution. Without limiting the.right of.,the .ali.thoricy.to petition . -. , ·. · · 1--the.c'ity :.councif.at ':i.n:V tlm'e, ·each ·year;: ,vi thin ,60. (Jays of the a'n_tiiy�rsaey,'_clafe_ot;th:e;fii_st. . -. I adoption ofj .. he' eriabling,i-es·olution,.the .a·uthority 11!iall submi� to.·the city'council"a".report 11 stating:�vhether.and how the,.enablin'g ,i-esolutiori should .be moqJ.fiei:l), Withiti'.�p,days:hf receipt..of the ;,:reconimenilatioi-1,', the city .council: shall review: tpe ·.:enabling'' resolution, considet the recommendations of the authority, and .make any, modification. it considers _appropriate . Modifications must be made in accordance with the 'procedural re'qtii.i-enients of section 469.093.. ., -_ . · . ·· . · � . ., · · . · · "·.·_: Sub'ci.' f l:. cci-�pli 11�ce. '.fhe city, co�i1cil's cietermm�Pcm: ti-ij;.i; "th� ·.authorfti"'"has_: co_mpliei:l .w \tf tlie liiJ:itations)mposed _un�er. t_h!s ,section !s con�lus��.-':/ '/<?i, ·:; '.;;::;:·:·.;lSubd. 5. . Limils; security. Limits imposed under this section must not'be applied in a manner that "impairs the security of any bonds issued or. contracts execu-ted _Qefore ti-)� liinit is_ imposed ... :.'.I'he. city' council must.�ot, �odify any limit _in. effec� at the time 'anybonds or obligations are issued or contracts executed to the detriment of the holder of thebonas 6r' obligations or 'any;contracting party.:,_ · , .. ,·· , .. -, .. · .... ·; .. , ", · � ., :··· ·,,,;•.'/!c:•l �f;:-��,�;�,-;�-�;1�f _i :��--·-\-:-.:-.t\:�-:�:·:::·:.5-/:··::�··:�: .::::_.,��:.-::··-�-: . .::':�E!�\?·:�:_-�:��:�+;!;�i/:�"'. Historical nnd Statutory Notea :.; ...... :, .. , -Laws 1986, 1st Sp., i:.·3, ari." 2, § 41. ._:: ... :: ... ;,-. •••• • • • I • • I•, •'fl_, c••.. . • • .,,t • • • .,. Dcriviillon: ·• ":·· ·: · · ·· · ., .-· · .· Laws 1986, c, 400, § 15. · _---_-_ · -.· · ·. St.1986, § 45BC.04. · ·. ;. ·-,. " ·:' ··· ·, ·:·-. Laws ·1986, c."399,--atL 2, § 16." ' -' ,_. ..• _ .. , . •' ' ·-. 469.093. Proced�ral ·requfremenf _--':--�,.\;:· ·: _. --:-t: .• -,:_:\:;°,: .:,.,i.:.:· ·::: .. · ::,-: . :s·ubdivlsion .1. Enabling i-es�lutio·n. The creation of an authority by a city must beJ,,y_·; written. resolution ... referred. to·.: as·_ tl1e enabling resolution. -Before ·adopting the .enaql_ing i-esolu_tion, the",city,,council shall �onduct a public hearing:·Notice of the time and place of _he_arjr;ig1_.a li.tatem_e}lLof.,th_e ·pl;Ul}ose of the hearing, &!Jd._a .. �_un:imary _of; �e 127_ � i l I J:,f.* ':; f ECONOMIC DEVELOPMENT ·� ' .§ 469.095 f 469,096. CornmlSBlonera: appointment, terms, vacancies, pay, r�moval :· -·· ':.::-: ·.'·'f Subdlvlelon 1. C�mmlaalon;re: Eitcept as provid.ed in subdivision 2, p�graph {d), X: an economic development authority shall consist of 'either 'th ree, five, ·or. seven com'mis·* sloners·,who· shall be ·appointed· after· the enabling resolution .provided ror· in ·section· b 469.093-beeomes effective. The resolution must.indicate the number-of commissioners :t constitu�ng th� a�thprity. :·= ��!�=��=j�'i1 J: :* t:. .. * .,:•.: •: •. :h,::•{i::·u �t) i¥. .. : -��a" .. _ -�-.'."\h�,r�;;t �; .: Stibd.: 2. !'".': Appohitment; terms;-vncanclea: (aj Thr ee-member authority:: the ·comm is.,� sion�rs-·cori�tituting _o: three-inember authority, one of whom must be � member of the city, :; .. council,'�hall be·appointed by;the mayor-with· the approval of-the·city:council.'.,Those· : · initinlly appointed shall be appointed for terms of two, four,· and six: years;-respectively. f-Thereafter-all commiasionef:l shall,be appointed·!,or six-yeai:: tepne., ,.,-;:c-�: :: .::·'--'.I . (b)Five-member. authority:'-the' commissioners constituting' a "five-member 'authority;two of whom must be members of the c.ity council, shall be appointed by the mayor with the approval of the city council. Those ini!;ially nppointed shall be appointed for tenns of two, three, four, five, and six years resp!lctively. Thereafter all commissioners shall .beappointedforsix-yeru-terms. _ . .,,.-:,-. ,.· .. · --· · .·.• ·,i :., .... ,., · .•., ·. (c) Scv�n-me�ber autho.rity: the comniission�rs c6nstitui:inga a-even-membe'r authority,:·. two of whom must be members of-the city council, shall be appointed by tho-mayor with·the approval of the city council. Those initially appointed shall be appointed for terms ofone,-two,. three,· fou.r, alld Jive years respectively and two .members for six. years .. ,. Thereafte all commissioners ehall be appointed for six-y�ar,_ ter:nis, :i ,., ,:·-:, .. ._j .• • ,·.· ·.; .� -• . ... !. •• • , •.. .• . • . • . . --;.. ; :(d) The enabling resolutio1:i,mny pr_Qvide that the members,o!_,the city COUl!Cl1 shall s�tye �; O:S the commissioners., .. . : ,-�-.i� ... :J:� ... , ·:i.: .::·.:t.i�; ::i ··t.rttltt�!1-:; ')ih li :-;u;:.;6tr":..i.'lr1j ·P\-i;·(e) :The,·ennbling :resolution.�ay, provide for the appointm"ent .of.-membera ,of the. cityf i:buncil-in 'excese:of the,number requi,red in paragraphs (a),:(b), and (c).';�:ii :1;:;i1l.l', ;,:J �-:-'· (f) _:,\·;a·�iiey "is �crea�d·iJi .tn�;�emb"ership of i1D0 auth�rify\,:,hen'fcity' coun'cll member. : •Jc, of tlui·a·uth'ority "ends·couiiciFine mbel:iihip.li-A, vacancy for this' or another 'reii.soi:t·must Ii�; ... ,.�,.,.:.:.�"-J�\e4.··-�9r --�� ,.b11Jance�.of-'��e::�nex'pii�� -;Cerni;·: in 'the: manne�; iJ:i -l w�i i:? '·thei:bn�al . -;::/ :':;:·.-·-! �pp�mfyte!)t_.�ae �ad�. ,.'.-r�e:c�ty __ co�c!l 1!1ay.set_the.�rm'of.�e �mniU1s19ners who.��----::.,. .!� members:of. the:c1ty counerl to comc1de.with. thelr:term ol office as members of the, city·,_, -� ..:;,. ... · i) �·.;.;,':'!:.�� ,.1, l�t :::tt • 1 : •;• a.:• ::�'::' ... ..,. ............ .,, ... , ..... _.• :•'-•,i :.,-;,..-:-.. �•• .. •• .. ..l'lll.'�'-'-"'•.;.._. "1-,uu�.::•" _( · �:7�0}�� .. -�!(�,}¥t if��ff;it.h.tf:!,.��d�:'1'�}!.,, .rr,:.1..-:,··t1'!1._,."i .i_L :•f: .;?.�u.i:f r."J.:�Fhi 1�:::-ti"l�:>il�! ·. • ';,Y '; Subd. 3. · dncrcue in ·comrril88lon members .. An authority ·may-be,increased ,from, -.. three to.five or seven members; or from five to seven members.by a resolution adopted by , the city council foUo)Ving .the procedure provided for modifying the enabling resolution in . sectior �69.093 .. = .. , .:. •:': :-• :... .,;., ... _:' '! : ...... , •. /.: • : ·:, -; .-::-',.;;.-. . •• --:·-;" .. :: •. :·.subd. ·4 ... t:omp�nentlon a�d:relmbuuemenL A commissioner; including the presi:· dent,· shall be �a.id for attending .each regular_·or· special meeting of the authority in 1lil.. 'amount td" 6el!termined by-the city council. In addition to receiving pay for meetings, . the commissioners may be reimbursed for· actual e,i::penses incurred in doing official . bu11iness of the authority. All money paid for compensation or reimbutS_l!f!lent mµet �� · paid out of the authority's .budget._ ·:., .. . · ... ·.·, . __ :_ , .. ··•: ,' ,'. .:.: ... ·. · • �--� Subd. · 6·. ;: itein.ov�l for.�nuee;_.A co_m�issi�ner mny be removed by the ·city· co·uncil for ·; inefficiency, neglect of 'duty, or misconduct in office. A commissioner shall be rem'oved.· only aft.er a hearing. · A copy ·of the cbarges must be given td. the commissioner at least ten days before the hearing:, The commissioner mus� be given e.n opportunity_ to be heard in person or by counsel nt the hearing. When written charges have been submitted against'a commissloner�'the city· council may temporarily suspend-the commlssioner:"If the "city'council fmds that those charges have not been substantiated, the-colnmissioner · .shall be 'Immediately re1nstnted. · If a commissioner is removed; a record of the proceed·: ings; together with the chnrges .and findings, shall be filed in the office of the city clerk. • • ... , • · •• . •• ,., •. ,.· ........ · 1 ·1 1• ••• ._. • .,... l ' • .: " · ' • ,, . -. • • ..... ,"", .,::.,,·''"' .. ' ,...., > ........ ,. ',· 1· ,. ' • ! La •' 987 '� �291 °§ 96 •,. '• .J • :J, • .�. l 1 _i.,. ... p. ""'" _.., , . .., .. _. .... •.• :-•�•'• •• 'l"•'',O ''< • i•l•• • ,l :•• ,t�,; lj-.,1• �,! I' • ,;:�.__,:,:�'.l ... �;tt�i :/'_: •1 r ,•:: ••,• :'\"'" � ... :• I ...... r:••,"_, • .,, ••' ,• "!.•:•: • ._,: r•,1:::u•.:-•:,l!'� :..-...:,-:::J;'.,''""':,•;"';."'1 °,�r:;r.• ,.:.,_ �t�·,::0,:-� U11torlcal and 0 Stotutol)' Notu',):,�· ·�,·.,�···-'.-�wa 1986, ·1�t. Sp:,• c .. 3, "&rt. 2, § 41..;;,r�;:::. , G·o·r1 ' U ., 1·-,r ,, ........ ,, '· I·, "1" ··'La 1986 ·400·§ 19 ... '-----·--.. ·-··, � ' Ta on:�.::._.·-.-·-··:·· ... �:.�!,,• •·l:t":..-:• •• t • .: ·; • '· _W8 , c.� , • --�·-··•_:.., .... ,.._ �. _,_n� .. -·SL1986, §·458C.08. :_ .. ·/· ·' . .-: : .. �f:::.-;_!,,�_!·::;: .• :,: .... ·:: -�· •... :_•,,,;1 •:,: ·._,, ::,·.;--:.::::,-·· 28A MIM.SA--4 129 11192P.P. �'j i i ... §469.100ii j , ,§ 469,096 . ECONOMIC DEVELOPAIEi :i. ECONOMIC DEVELOPMENT .1 1 ·�·: . · La.ws 1986,_c. 39?, a��.·§ .J.9 .. ,�!::c,;:.-1:,· .• ,.;;1•.:J.J •• �,···;:.;.�i . ·,tl<i �,:,·,�1·.· : .,.,, ., .. , . .,;:·:,t�� t ·,:subd. ·4. · Suppllee . The authority ma; purchase the supplies a n� m�.t:e�al� it. n��da to�j; ·i ·:., . ··;:_1 • ·_ • ·, :· , •• ·,.: •• •, •• ••• : • '. -:,: ., , .... • ,; :.. ·; :,· >->: ,: .. --. ;::d;lilJ �carry out sections 469.09D to 469.108 . ' .. ·,-.. · ···· : :·'. ·· ; ·1 :.:.:·: ·: .. .". _-. • :."·��-.�?6�: ,:<;>rf)�e�s: _.d!J.t1��;1.�r1ai:ib:a tfo i:iat ;m�uei:s . · ... � ---�1 ·.;�i ·.� !· ,; •. ,, •.•.• -;:-:: · .:·:;:·,. !'i f f :: subd. 6:-: city .,�rch�lng. An·a�thorit/mai tise the r�cilities ·.;r i?' city 's purchasing�. !!:.· . -Subdivisio n l. \·, Bylo.ws, rulea, aeo l ... An authority. may .adopt bylaws an d .. rul�s ,Q� t nepartment iq connection with �on�truction work and to p�chase eqwp.m�?\ s_u�p�I��·.��1 procedure nnd shall-adopt an ·official seal. . � .u:-:i::i/;;r ;, · ·:: ,.;·· .. ;.,., ;.,-1 :· •• -·:: : :•I·:,, !i,�1f( ,•-· mate rials. . . .. . , . • . .-. , ,. ,··· .... · , . · � , : · ·subd: 2... Officer&. A n authority shall elect a president; a vice-president, :a treasurer/Ii� l i,i. Subd. 6. · ··. Clty·'focilltlea: servkee::A ·city may f�miah �ffi�fl.!I, atructur�-!�� a�a�!. ,:.·.. ·secretary, and !1Jl ossistant .trj!asurei:;.�.'.l')le authority shall .elect._the president, tre?-911.r�r,f �''and stenogra phic ·c1erical,:engineering, or other ass1Stance to its authoi;lty. , ... , : ·:: .� -�,. and secretary annually. ·A .commissioner must not. serve -as _president and vice-presid�iiti! :,,_.-.�.'-},··.-'. s' u· bd.i: · J. ·.··'.·. D. e-J'e·gn · :ct·10•. ·n· po� .. :.p_ .. T. �·e·.a·uµi' 0•0, ·.� .m· a·y' . .-de\eg._ate_· · to.··.·;;�� .• o.� .. in,-�.r.�.·-�.f .... 11.s.· _a. _g· en_·. ts_� =' · at the same time.: ,The .other. ol!icea .may be held by the .same coi:nmissi9ner. ,Th_e of(i�e·;; -., -�., . , ---f .. :IT ·.f · ta d · ta t tr d t b Ii Id b · · · · ,m �_. or employees powers or d.uties as 1t. may deem prop er.. :;,;� �::; "' ;: ··:·:r·. ,.::J :•.:�-.o s�cre .ry �n .al!SIS n . easurer ne� .n?-. e . e ._Y f.comm�s1oner.,,!:-::;;·,.,:ll."i.r.!� • . . 1 • • •• , ................. , •••..• ,. ·Subd. 3. ' DutieB and powers . The officers have the usua.1 duties ·and ·powers of their� t !:6:��)�sr,.� .,.��!· ,(?�( �j_; \::.��.�--· r�·(.: ; .. -.:,,,. i!::"l,,i,'· i�:.�.;.;_::��.:-ri;�\'.!ii, ,;c:_:..;f.:;··; I ;·:; . 9 ff j ce s,;n'.fh_eY.!!!laY., be giyen.-��l!.,r. l!U:lies _;in d . p ov,:�rs. by:.th .• � .?-uthoritY.-. ,·:::." ., .:·,.r 1,J)·)i! ·' ' , ....... · ··, ·· .,. .. , ·' · · · ·· ;--, --, .. , · • ····· ··· ·· ,. ·· · ·, ., .... ,. i' ·: , .;;; ·i, .11,;: . · · iuiitorl�I a nd sli-oluiory �otu , : � :·" ·. : La�a 1986, .l�t Sp.;· c. a, att-:2;· § �1 : .:,· 1 : r:,'. -. :1 '·Subd rJf "r Treas u re r•a ·d ullea :Th.e treas11rer:; u ,j-,� .. ·,., ..• ,,�: .. ,_·"', ..... ;· •• r;,., \, ·1'J� .... , ·· ·· · , .... -1 �·· ........ ,.. • ·•·o §. 2 "·�·, ... ,, "--' •• , .. • •• ·,-. • ,. I . .. • • ·-••• : ....... , •••••• , � , ••• , • .,. •( ··-.. � ;. i:,�Vat.lon:·';..::·: �.: ·:-·i·. =·:. . \ .. ,-·.: -:-, ,.:· .. � -�. La�a !�881 � t&O ., 1 ... � :; .: .... �:r . ..: . ··-�· ! •.. <, (1 ) sh �li rec'eive and is"r �s'pci�s ible.:foi: ·auth ority'in�.;ey;·!·,!:c'·'!; :,:? :/: ';; ::: .. ,--,;·;· .. !'.It . �.St.1986!.§ 468C.l0, ... :. ·: · .. ·• .. , . . . . La.:"a 1986, �-�99, art: 2, � �I.:·.·. · .. • · ... �tiR , In--· · (2 )hi ·r e �p �n ;i b l e fo r th� acts of th e ass ista�t trea s�r e �; ·;.· ·. ·n • =·. ·, :::.; � , ·.�-,:·:�1 _ . _ . . '&{ ·!1 (3)shall disbu rse authority money by check only;. . _. ,. _ . ·: £ 469.0 98 .,_ C�nfllct o f interest . . . . . . . .an ·i; .if . (4) s�all ·keep �n acco unt of the source of all receipts, and .the nature, purpose, and -.. .. Exc�pt as authorized in aectl�n 47�.� a comml_llsioner, of.ficer, _o r employ�e or I n ·1 1 �· authonty of all disbursements; and .. · .. · :'. ·, '.::. · ... : , .... · ;,· , . · .• , .. ;, ,. . .. :•: 1 .,,iJ.i . au tho n ty must n o t acqu ire any fmanc1�l mteres�, dll'ect o� indirect, In any proJect or ·, .• . . . , .. . : · . ··. · . · · ·1 .:·· an rop e rty included or planned .to be included m any proJect, nor .sh all the person h�ve_ · : (5) shall �lie the a11thontr � de�,l�d.!��1�!��teTe�t w1tl_i !�.��c��tary .at l!a,s t. o_n �.e;'!l, ,· Y fP. . 1 . te t d . ct or indirect, in any contract or prop osed con tract fo r mate nal.sI. ,r,:a year at times set by · t he au th on h;_ •· . • .. ·, ·.: ·' · · ·· ' •r ·.. • •• , • � .. • ..• •·· ·: 11'!,\ . an y m�ncm in r es i ll'e . . . h . . · , .. ' · f::· · . •:r • •• ·: • · ·• • • · · •· · · · • ;;or service to be furnished or used m connection wit any proJect. · · ·: ri ·· ·Subd: 5. ,.. Aeslsla nl treas urer. The assistant treasurer haa the powers and duties of �. . . • . ., , . � .q . �e treasure� if the . tre�surer is absent .or �isabled . . ..... .. . .;· .<·. -·--... - _. :: .:. ,,. i�., :·. �wa .1��.7, :. 291! � .�9. . . ·.. ··:· ··:··: �.--.... · .. :-: ·· · , ··:_' . ··:· . ·: . ·... : · · �-. tj· (-; ··. Sub�. 6. · :·�ens ure� e b on_d:·The tr;��rer �hall gwe bond � the state conditioned fori \ :· _-:' mito rlcal !'-"d Suilutory Notea .. _.; . · Law& 1986, 18� Sp., c. 3,. art. 2, § �l.: 1 .1'; . · . .th e fa 1thf�I d!acharg� of �£fi�1al .d u.t1es .. J·The __ bond .must: be :approv_ed a.a .to .f?�·.an�� ::t ·jj�lntlo·n;-. ·. · · .-. ,",;:;,a,·,· .. :_..,, ...... La.wa 1986, c. 400, § 22, · ·;.i ·-,.,,:_.,,:.: z l ·!;:!· : ··" ,?111:etY. J?Y··.th�;�u.�ot;io/· and _i1.1.e4_��-�-�· ��r.e.t:&cy::!;·The, bo�� .. !'1u_st .. be .fo r:, twu:�1 �tho.; p..,., St.1986, t 4 68c.a:·.r ·.i:: :,:·:.'.·<:<� :,!,!!,.�f 'r.-.1 --·.·: ::•.'Lawa:19 86, e. 399'. art. 2, .'-.�,f t )n,:.). ·', ;f ,.·�� , amount of money hkely to be.on hand at any-bne time; as detemuned at least annually.bJ,;! !!;' ,; .... :, , ; .,., . "i:,., . .:: .... r,-',-'" .� ·1�''!1 ...... �. · .,·. , · .·: !", · :"· . . , . • .. • · . '!.:;,: ·.,.· tlie:authority .provided tluit the bond mustrio texce e d $300 0 00.······.;'·,·· . .-·; ;--·��:'1."·:.'·:5' .:: ."'·.:. �.:. ·.:·.;., -�-• ... , • . .:.· .:i;•_?.,�•::-···_!! .•.•:·-t\·.:·�·:t .,-;,:�, '.· ij'" ·. · . : · . .. .. .. .. · ... · ;· '.:·:· · · · . · : · ·· · · · :--. · , .. ·· . ' ..... � J;, ?:'! ? : ,/ ·� ·'f : !:·�.�Ull :, .469.099. · Deposlt,orles; ;_def�ult; .co la��l .. , : : . , ·: ·. a • .. , .• • ; :-·r · .. ,::i ·:: /•�!:' ·'.·r.-: :. : , i .::' . : . ,-�ubd::1 • .,.., Publle.mo'"!ey.,:A.uµtonty !"Ooey ,1s public money,.· .-.�:.i:l!:J·::,; ,r·;!e�!J.::;�1 11·. ·:ts: ':· 8 b dl 1 :·--· 1 ·:, · zif · d;·bond ·Every two years an authority shall name national or . . } t.-r ;a: ·., ... ;':··�uiif r:;�:the�ka:�;Aitil.�t;fi�fity"check"hiiist plt Mg iie(of �t#:easiire.t �n:a ·�'i:t ��h�� ·st.a� ba��thin·thea�� 88 depo si t,?ries: ·: Before. a_cting 88 a de posi torr,.a]a'!1e4�gan� ..· 1 it ::. =�·..;-,;�fice r, n an;i e�J >y ·tJ1!?��uth�r,i,ty ;i�:a ·fesol��on,.:"lJt .��eck ml!�t!l.��,th !!;.!!�m.��-otViJI �·shall glve ·the authority•a bond approved a� to form and a�ty ·.by 1 the .autno�ty·: The , l·p.·i �-c : :.· · ··. pa!,e;e, �t:1� .. �l!.1P.aM.�J.o!l,th� . .c)a pp .��f !fe:=.��.e��:,�;}B&1�_1!,�Jp,r:�¥-��!{;tr,l �· ;,h.::wlj';,iit,,,· . ·�·:bond muet be;·conditioned !or the! aa!ekeepmg an�·prompt .repnyme nt of deposit.s:"bThe , _f ��: :: : . . >�'.S��'cl;: ��Fl��i�i_tl�l��ft;,t'.l'l ief ��lj tf'.al d��i!�ii ;;��t n�!�I·:.s��ment' �mu�t 1g; amount ·o� bo�d. 11!�� .b� at_ }�as.�. ��a} ·�:.U!�-��1m�� su�.�pe��:�;;�t�e��. �� ii, �t� �: •1 ,·\ ,.• show.'all receipts ·and ·dis bursements.'i.�ell'.,natui'e,,th e m.oney ;on ·hand,'·th e .P411>0ses•to . -:,. .. !lDYi on�:�me,1,t1•q11,\,;:ri,,.-:-.. • •.. ;,,..,,,i,·�·:·i � . .-.,. �-11.f\C,·11"'."-� ""'·"'�'.JaJ.!'.l"'.'·::�-:!l• -· ,,ll:,�1-.-i � f �t�· · :·. :which. the money .on ,hand . is tq .be,applied, the autl1ority'a credits an d assetsl· and ··it.flj .�.·:-·subd: 2:,;;.·orie b on k·occoun t; ·An authority·may depos it all lt.s money·!!om lln Y. 80";1"c!� tWj�:: outs�1;1d i �g .. liabi)i tic! :in ·al.form .. require d ,for ,-�e -.city's ,financial , a�temente: ·-,!!'he ·i'i" � In one bank accoun t. rc··,r� :• .. ,:: '::'."' . --: . ,I • .. :·:. ···:'•( ,·; ::·: •• : i:r• • .:'.:.'! :·; .,,'. ,.,.,.1. :.:·-� 1;1· ! r autho�ty: s�alJ examm�. the •sta�ment togetl1� .wit� th_e ·trea�urer's vouchers .. , Ii . th� , .,· 'Subd. 3_ • ,. D!!fault;: colla�r�l. When ·authority funds ar� deposited by t�e .treasll!er m-,.h� i H ·authon_ty finds that the statem�nt ,an.d vouchers ·ar�,correct ... 1Lshal1 .approve the�,by,, l a bonded depository, the trea:!u.rer and the sur�ty on the ·treasure.r's oCCtc1al bond are · :f (. t] resolution·and enter �e resol�tion m its rec?r�.;. , .... 1,.-.! :· ::, .• · '. ,, , :. ; .•. _-..... ·.: .-,..:.;:fl exempt from liab ility for the loss of the deposits because !)f the failure, b ankrupt:cy,·or ·4;, ·. _1·.,. Lawa :1957 ·c.· 29 1 §·97.·,,.:: .,,i .,,,.:i;.,i�,, .. .,rn •. ·., .,c:,.-1 ��:;·�,.·t::)·· 1l..�· .. ·,.! ·!:·•:·.'; .:· ·r-· ;,\·:-.; .,,!;-,!'(! ! other ac t or default of the depo sitory. However, an authonty may accept assignments of -� ·. 1�,.:, ·,-;T ·• .. :':·:· .. '·, .... , ::·:1;1 .'. · .• I':�:, ·.,·�{·,l·.•n ,.:.·,,,:••ci H'�1";1r1:�1,1 ,. :,·,; -i·,; ·,�;;11 �'collaternl from its depository to secure dep osits just as assignments .<!r collatera! a.re ,j :·; .1:;/ .. ·� i;« .. ��t��I,e;oI_�,nd �ta!�l;?l'J',!I��-:•' �,: .. ;:.:7,J..aw� 1986, lat.Sp., c. s,.��. �·§ ��--·.:'.:.;:.;·J ;i permitted by law .to sec;ure deposit;s o!;th c autli(!r\ty'!l .. ci o/:·.:.;.:,' · .. :·._;;: -� � .. ·:·:::'.:> ..:,·,·.� � .. .D ulvatl.o n::.·, ..... , ..... ·,i•,.:.;.-.,. ... ,,:·.,,.1'•.:.,., :Lawe 1986, c.400, § 20,, . .-·. · .. · ·t La · ··00 · ·· ... ··· · • · · · · �� 1 �-·. . , St.198§,.§. (58C.0 9. -��:.:;: ,;;:.,: .-: .. :. : ..... ;;.��-.:.� ·:: · ui\lia 1986, .c..3�9, � 2,·§ �o:·,. ._ .. ,:. :::�::::;.�1 , ... �s 1 987,. � 291, _§ 1 · .. ;·:·! · .,:,. · _,.-: · ... ' -; :·; • ·" • · ,·, ,• .., .. ·:-·.: · ·' . '·' ·.·:,-1·· .... _, .... �-!:: .. ·.:·: ... � · .. ;.:··.·.·:··:··'IJ···.·· · ··!_r.-: .. ,�1 ·:':: .. -·\:··.:·: ... ,:·.:1:: .. ::: . ..:.!...·: .. !:·:·. · .. ·, .. ·:-·.::.� .. :·,·.--� ·.··:0 "::-=.:!: ····=-----� .:. ·• -·t ·:...+·· ··: , .. �-·: ·1..a· 95 ''1 ts· ·s ·rt.2 1.41,:�··· .. · •·· J. ·· .... ,, '1:-' ........ , .• ,, ••....••• ,, .• -�---.. --,-•.--. •· '--·.:·-1 ,·-.,·······,1 · .... :·.·-�,· .• ··, ll11t orlcal andStatuto ry"'o te1 . ,. 'flll l 6, a p.,c. ,a ,v .. 1 .·,. ' • •6 9 097 E ·1 . I ' 11 -···-·······i ---,, ,., 71•·•�•'-'1"··' •• '1'-7•1 .� •····•·" . · · ... -··· .. ,•i ·,., ... , .... '00 •23 .. ···•···· .. h··''•"·, :f1:t-; , l,:t :i ·. -� ·-· . :: ; m p_ oyees; :e erv c_es-: h�upp. ':8,:"'·' -�� ;;,�;.;.-f·-;i•:.;,H1 ,::r,.."' ;.!·. !. �.�:l• ... •·;."..::..i.L:..• •:--:':.� _ -fntt1 "_tiO�-,,:::;-· .:..� .... ;: ......... -. ·. · .•"ut ��-• ··---·� • Laws 1 986, c.. • , w .-• • • ..... • ·: .• • ........_a;::�r. ' t.:i 7·, Eiuii4i;ielon :i_ \ ·�·.Einp!oyeee'."'.Aii,: e�orio.'niic . ·dev �Jor""ment a�th. �nty'.. may .jriipioy.\� ::: .,··st.;;86, § 4680.12.''.i ·'" .. : ;,: �·:-:··'. :·:: ·,.· ; �:··: ui=. �9�� .. �: ��9, .�-�� P�:.,.;': '·::'..:,.:/ ·: Tu t ,.-.!. .executiv.e ,.dir�ctor,: a. ch!�f ,.41ngmeer, ,.�ther -�chn1�.�exp� �nd,-,a.gents,. and .ot!ie�-i .: ';°"''.··.:·11:,,,::· ,•;.,_··.LI ':.•·:.\·:··"· .. :·: :·:!.'· _'·-':. ·. · .. ·::·:: :.'\:. ,·-:_:·.,-· ... : ... ::··.= .: ',:,. _ 1'£1 .:--; e!Dployees as 1t may �qull'e,.�-��. �et.ernun.e .t!,iell' du �es, quali:f:11;41:i�ns, �n� �O!,llP.en�at.i�,� :=· 46 9 .10 0 :·' Ob llgaUonil ,:-·.·.y :-:, .. · . ' ···· , � ··. · ,. :· · .. : :• .-. • .. :. .11: ... � -· • :·. ;·�,. �f1 !; .. . .::Subd.· 2. ,,! ·Contract for eervlcea.• The a�thority may __ contract .. foi:. the , se�ces, of I :. ,;:, Subdivision 1.: � Taiee :a nd �1ieesementi prohib ited. An. authority must not levy a tax. -� ·i ;·: consultants, agents, public acco11ntant.s, and other persons needed to perform its duties ;, or special assessment except a.s oth envise provided in sections 469.090 to 469.1 08, pledge ij'", �; , and �ercise its powers. : , . . > .' .: .: . · · .. , . · ::"·. ,: . .:.:: :'. · ·: :-:? ,. -�:;i: :· :� the cre dit of the etate' or the state's municipal corpo rations or o�er �uMiviei?ns1 o� inc.ur ·· '-·,j , .·: ·Subd. 3 . �? Legnl servi ces; The authority may use th e. eervices,'of tl1e city attornei or ·1 : 't .an obl igation enfo rces.hie on property not. own ed by �e autho:_1ty.:· . .' ,.::,::.::; :·:·:· · ·;·-: ··· ;' � 1 ._,, ,hire a general counsel f�r .it;s Jega l ,.ne eds . •The. city attorney ;_!)r gene�) COUD.!J�l,-.�as.? '.j-;\,· Sitbd: :2 ; ''Budget t�-elty:Ann_uall )'., at a time fixed by. charter, reso l ution; or on:l�ance; :�; h �; determined by th� autho�ty'.. 1e 1ts,c�e� ltgal a��or.,: ,J ·,·."· <-,: �-.. -,,1'." :t�·\: L{t�?·· �1 :· o !·the ·city , an au��rity· shall sen� its · b �dget to ·Its c1ly'� co�cn .... Th� budget mllllt, ·,:,.-'fl ;�; -. . . . . . . ··:: . ..13.�. �.. . �-: �-. .'L;'I:;:-, •. I j.31 . . i :r, . . . ��: I-·d1 , · .. . i . ,· �· ·; ,i:_· ,'. °!•; ' •, ;-.: §469.1_0�ECONOMI C. I>EVELOPrtlE�:, �· ECONOMIC DEVELOPMENT §469.101include a· d �tnile� w,ritten 11stimat.e of the .amo_u.nt,!)f money that the auth ority expects to·i � .', Subd. a. . Options. The economic development authority mo.y sign optio�s to purchase,need from the city t� do au thority business during the next ·fiscaJ .year. ,'l'he ne edeg f •.. 11 1 · rt ·· ·· , · , -.. · ···. · · ·· · ·· · · ···· amount is . '!V hat js nee.ded in exc;s�. C?� �m y . expe_c�� .�c_4:ip_ts_ }�?�., qthe�. so.urces . if j 8� ' ?.r ea.se .Prope Y· : • • . · !t· •. • .• :· .• · • · · . · · · · · .... ; ;:· • : · .. · � · .· ......·---· ···-... ·-.... · ...... ·-" · · ,., ' '· . ·· .... ... .. ... .�. th"· · ·· · · · • 1! r: . Sub d .. 4; : Emi nent . domain. The . economic . development o.uthority may exercise the : :S ubd .. 3.: ·,.FJ!c�l: re��· :�he .fi�c�l.jear:_of .. Uie. auth9:r}.ty. 11},1.!!!t .�!l __ .e ,�iime .� J�� f!!!�J t .7, right of emii1ent_domain under chapter 117, or undei: its city's charter to acquire propertyyear of its city, ·'· ·0 :·. ••• • ·,,r•:-· ... , · .. . · ·. ·· ..... !i •!:,;::,.:::"';l �it is authorized to acquire by condemnation .. The authority .. may acquire in this way:; Sub d, 4, ,,�Report lo· city. An n11aUy, at p. time. and.in a fonn .fixed,.by. the city .c.ol!ncU,;f �,. property acquired by its own�r by eminent domain or property already.devoted to a publicthe auth9ri ty. �hal.l .. make,a ;wi-itten report,to the cpu.nci): givjng. a.detai led .account. i>f :i�-� :i use only if its city's council approves :, The authority.may . take posses!!ion or property ½)activities ·. and or its receipts and expenditures · d uring the preceding calendar year;,, f be condemned · after It Wes a petition in · condemnation · proceedings describing the�gether · with additional_ ma�ters a'!� ��qm��-d.�.�£n�, it d;�n.i�. a��s�!>.1.4/}!>r. F�.�.-��g n?�� ,: prope rty:· . The·· authority may abandon · the · condemnation berore taking , possession:IC development of the city. ,·. :· :d,'/:i:·!LII:: ...... � ·'�·,,, 1·!· :·� �!?·.': . , .,, ... :·!, �-··I. 1 1 --� . ;[i: ',,s�'iiii. ·6 ... i·.• c��i��t�: Th"� ec��ic de·v·�l�p��t·��tho.rity m�; ��-k� �01ntr�cts 0!��-th�·. Subd. 5. · Audits: The 'financial statements of the authority must be prepared, ·au dited;·' ··. p·u.rp ose of economic deve lopment within the powers given _it in �actions 469.090,.to filed, and published or posted in the manner required for the fin�ncial state!'!len ts of the ! ,' 469.108. The authority may contract or arrange with the federal government, or any of city that established the authority. · Th e financial statements must pennit comparison and ,i its departments,· with persons, public corporations, the st:i.te, or any of its political �-reconciliation ,v ith ·the city's accounts and financial reports. The report m ust be filed � subdivisions, com missions, o r agencies, for separate or joint action, on any matter related ;i'.Y 1-with the stare auditor by June 80 of each ye ar. The auditor shall review the report and :, to using th e authority's powers or performing its duties, The auU1ority may con.tract to 'jg-'? ii may accept .it or, in the public interest, audit U1e books of th.e .. a,u�horit>:, .. .. . ,; .,\ purchase and sell real and personal property. An obligation or expense must not be � .:J . Subd. G. · Compliance examination s. At the request or the city or upon the auditor's {. incurred unless existing appropriations together with the reasonably expected revenue of '.fi �_11 (initiative, the state ·a.udit-0r may make a legal complianc� examination of the auth ority for ; · the autl1ority from other sources are surncient to discharge the obligation or pay th�� '! · that city/ Each authority examined must pay th e total cost of the examination, including IJ. : .. expense when due. The state and its municipal subdivisi<?ns are not Hable on _theJllJi ' h'I II d · ki l · -oblia-ations. · · . . · · · · ' · · · ,�; · .. · the salaries paid to the exam iners w i e actua y engage m ma ng tie exam m�tlon: � b � �.The state auditor may bill monthly or at the completion of the: audit. .. _A)l collections. i . ·.S ub d."6. : Ll�l ted p artner. The ecl:)nomic development" ��thority. may be a ·limited� �. � rece_i ve� _ m_ust .b!! �el?osite.?. in .�� ge�� .r�n.d;".:-:.\ ,":-_:.'; ,:::. \\ f;'>.--;·• ./ . ·:·.; �;..· ,\�·-f � partner ·in a · partnership whose purpos-e is consistent with the authority's·. purpose ..� lJ ! ·, i:'.1':!sJ9§?, �.:.�9�,'§ 101., A�!!n�ed b1 .. JAws }�8�,.t: .. 335, art. 4, § 88 .:. . .::, .. ; ,: .�; -'-' .: .,,:, "'l�!l f _" S�b d:::r :, nigh�; ��eme��.'The ec�nomi� d�velop��·�i"'aµthorlt/�ay· ��q uir� tights. :;f.J hi ,.· '\. . : ·,:" ,. . : ·.'· .......•.. ··-�� ... �., : ,, .:,. . .• ' : .. ,; .. , · .... ; . ', ..... :;, <Mj.'.i:t ·f.·. or a_ n ,'.e.· as.e�en. t .. f.or a __ te ... rm., •• of,,. Y�.a.rs_ :,:o, r .. perne.tu ..•. al.ty., ... �o._r..,,��e.v�!O,P!!!�.�r.�tn�, ,e,c��m.i,�.. .; i'.1 'II . .: .. : . ··· lliatorlcat ii.nd Stntu1ory Nofoa ,_.,�,..,·. -··: Lnwa 1986, c. 999,' arf. 2, § 24 .'1-� :i :�:. ,· �·:. �i. -d I d 7 i ,i :'1 · ...... ,-· .. ,.::·,:1 :,•i!.···.rc .• ,.a ..•• ·, .. :•a ••,i ·fr;,n, :� -, '"r·l989 Legl,lnlio n··, -., .. -.'Ts,J-'! ,, .. h .. ;_,,·.·.:,t!'.) ,,_. eve.opment ,strict.:.,'· .• · .. ; ..•... ·•'.,.:. ••... ,,.) .•...... , •• ,,.,; ,,.·j•., .· ,.;.::!1•' '•,:1!··:.'.:· •1,1·Z . -. Dcrlvoho n: ... ;-,,,,,;,.•. ,,, ', ,< .. :' • ·;:·�.,./,:.:i,.. · -· ·. · .... ' · -:···'·.·;'··: -·ii� �. ··s ·bd .. ;8· ., ··s --· 1·: · ·: -·t·····,·--1 ·."-Th" ··· .... ,_. .. d.ev·e·lJop·m···e· t·a· uth �rity . ·�ay· btiy the·�, •·#·::... .·si:.l9SG §-45SC.fa .. � �.:.':·::.":.:"��-�-�f'!>i ·:·.:· Thc1989 ame ndme!'t l�aubd:G provtd ed th:it 1-'. u. ,: ;··· upp 1ea; ma er as. e econom ic . n . · . . .. 1� J.n.;� . . -.!.. • • • ,. •• • : • · • • • ., ... c :--l the costs of the exnmmation collcc!(!d be deposit-r-: supplies iind.materials .jt·ne eds to .carry out this section.·,.,.�•'.·-,,.·.;;. �r�:: :,�J.,,I: ,�,.;;;,l•;:1.::::�d jf:,, ! · · · .. •.Lows 1 986rJat Sp.; c. 9;ar�_2,.§ 4.1.-, :j =:·.::;: .;'.·,·e� ,in .,th.e_. gene .. rar,f.un .. " ·�.th. �r .. th,,a,n. a •.. ,.fovrm., •.• er. � ·' • ·-' · '· 0( • ·•--·· • , ........ ,. ----�-•• ,, • ·., •• •• ... • •• •• '· • • ,·n ,; .< •'r··: · .. '· ·.,, .• ,, ... ,, ,.,li}f ,1f :':-: ... • . . . Laws. 1986,· c.·�00' § 24 .. , / t,;",,i,.,�,�., .. ;· .. Y-e volv111g .!und of Uie stale auditor.,,., ..... ,�I."" . � ,.Sub'd:· 9 .. Receive' pubuc ·p rope rty: Th·e economic .d eve)Opl'f\ent ,autnoi;i ty _l'.'lllY:.ac.c.ept]� i . . ... : ,..., J4i' ... <ii.i:!1: �11fr.--!JJ !:1W\'�·�ll·b1ra ..:.� ;A wdi? ;ti\f. -�.!.··,··, �f.itp�1:: tl':�:r��n .:-;� ·11·�1,11:�.!.!�·l�J:)/1:!,_ • g l�ii d, .moo.el or �ther:?5 sistanc_e, .�Jie �er by gift;J�aii or o µi.e_rw i,se, iri'anr !o_qn,fi;om . tht"0 il'·"-'.j • ....... ,. \,,,,;-r,p-, < •1'Btjrl\l•\fl•I •'' ltl.i ,.,,,,1:$11' kt') 1., , •.. , "' ··\�:>W"-" ::r, • .:,; .. '!,'.ff r,s •r�: :i.;ih .. a di.,, I ·�· federal or . a fate govemment;: or an agency .of either,, or. a . local . sub�VlSIOD . of ·s�.te �· ':· .. 469.1 0 1. owers ·· ·• · .• · ... : -··�·.:·:.····,;-:.::�·:-.:-.. ;··.1 ·-:-:.: .. ;···�.:1'',"-· ·t-· ·t··to · · t ti "4 69 090 to···•59 108 · d ,::..·, q·ull'·e a 'nd ·deve'op an' ·� 1·, :i,' i_:i" -.: .. )!-:i:!.,>..;..;,r,j,.!_�I. '�J!rl·� .. "1!:!1 !1r:i',-:l;. !'l·�ql � ,•,ti)':;, t!,,,;J,1;j1•�lr!u1 }:::1 ·::-!J · ti•:1-:>·H,1�'-,,,. go vernmen carry OU ·Sec ons . :• . an .., ac . _1 1 ·-• �ti i· �.· ; ·!;S ubdivision 1.1.;;:-Establlahment. · Ah economic :d�ye lopment auth ority ,may create· and J f �c?��mi�}e,�elop�e �t �ist:ri�tanf i�-!��-��e� .��;r , �'.�,-8.�fti�n: }: j', :�/1 !.:·.�·�'-�. ;·}.".�/� ··�-li i ;._ , define the ·bounda.ries of economic development districts at any place .or.places within the·lf-·?_ � Subd.' 10;� Deveto'pmen t district authority:The·cconomic 'development authority may �: i · · city if the district satisfies the requirements of section 469.174, subdivision 10, except that:f · sell or lease 'land held by it for economic development in economic development districts;'ti � , . the district bound aries must be contigu ous, and may-use the powers gra nted in sections-.1 ·· Th e authority may acquire, sell, or lease single .or ,nultiple tracts of land regardless of�'t � ·: 1 469.090 to 469.108 to carry out its purposes. First th e authority must hol d a public · ·. size, to be developed as a part of the economic development of the dis trict under sections t.1; ·1· j 1 �earing on the .ll)atter. At ,least �n. �!lY�. �e for� the heai:mg, tti,e auth.or�ty s hall publis h .· 460.�90 tQ 469.�08. , .... 1 ·· , .... ,:, .. : � . .'. ;.: : :· -' '.� :. _:' .:. : 1.. 7 :. ·.', . ."/ f':i · ·, notice .a� the. hearing in a daily newspape.r. of ge neral circulation in th� city_. Also, .9i'!. .. :.' . S ubd: l l.··' Foreign trade zonJ. The economic development authorify may a'pply to thet ;, =-, :.:autho�ty ;·s hall !ind .th �t .'!n· econ�mic .�e�elq.pm.ent:.district JJl ·_�r.�pe_i;; ap9 Jiesira �le .. _.tc? .; . • 'ooard defined in Uni�d States Code, title 19, section 81a, for the right to use the powers"' f ;,:., establish .and.develop . w1tlun the city,_,,._.;·., . .-..l • • :·.• , ··�·, ::.:; • ..i ..-.:i: .... ,, ··: .· s·r 1.·.l · provided in United Stales Code, title 19, sections 8111 to Slit. II_ the right is granted , the . ··s�bi[. 2 :·.":' Acq u ire·: properly •. Thi/ .economic . ·c1evelopmenbiuthority .:may0 ' 1cqu ir6 : bi ·:, ·: �utho�ty may' use . �e powers. : ;_9ne auth(!rity .. may . apply .. with . ano ther authority ..lease, pw;chase, · gift, devise, or conilemnation proceedings the··�·eeded right, title,! and J' .;:. � Subd: 12. , . .',.ReJ allo..;.'_t� othe�•.red�•e l opme nt ·powe.n. ,The economic developmentInterest in property to create economic development dis tricts· .. ,'It sh:iU: pay ; for:·theJ �i authority may exercise powers and duties of a redevelopment agency unde.r sectionsproperty out of money it receives . under sections 469.Q9.0 to !l��.10� .• I� l)'lay ,hold and �i. � 469.152 to 469.165, for a purpose In sections 469.001 to 469.047 o.r 469.090 to 469.108. Thedispose of the' property subject ·to t;!:ie Jiiriits and conditions in sections 469.090 to �69.ios:·1·· :. authority may also US!) the powers and duties in sections 469.001 to 469.047 an� .469.090 ':<>The title to property· acquired by· condemnation or purchase .must be .in See· simple,· . ··;469.108. for. a pu.rpose ln sections 469_.,152 to 469.166 .. , .... , .... ·· ·•··:!> : . .. ; ... -· � . absolute.:· The ·authority · may accept · an interest in property . acqu.ired in ·another · way·.' -:: ._. Su b d:·13; Public fac i lities. The authority inay operate and maintain a public parkingsubject to any condition of the grantor or donor. The condition must be c<;>nsist.e�twith . ·.-. facility or other public facility to : promote development in an economic develop mentthe proper . USE!; o! the property, uil?_e_i::, sei;t!PID!. 469.090 to �69 .!0�.-:-Property ,11cqu_ii;.edr1 ·.-t· dis tric t.,: .. ,..... . . , . _ . -.i: , : ,· .. ,. ; ....... :,:. : � ... _-. �· .':: ·�:,: , . } :."; .. , ... � · ·· !. 'owned, leased, con!:rolled , used, or occupied by the authoi-it,i for. any of U1e purposes. of · -��::, Subd . ,1,i;·i,; Government agenL An econ·omic . de'velop· riie nt ·authority · may ·cdoperatethis section .: is .for .public goveinriien.tal ,: nna .. :i:n.· qnicipa.1·,,pu rposes_ ·.and : is :.exemp t.: f_:rom.· :, , . �·, with or net as· agent for the federal or the st.ate go vernment, or a state public body, or antaxation by Ute.state or .by its politi�at subdi�jons1.:,.The .exemptio n appli!!s only .1Y hil!l thJ)..'f!' agency or Instrumentality of a gove rnment or a public body to e&r!Y' out sections 469.090 authority holds property for its own purpose, .. The .exemption is subject to the provislons;-4t � to-469_108 or ··any other •related federal; state, ··or local law · in the area · of economicof_sectio� 272.0�;.subdixisio�_s . .-.-JVJ1en".the.i,ioiiei:tr.' i�j�ldJ! ��c�.iA�s�(u!>j�£t ,t;:i .. ��O,!I� ·i . development district improvement. : : ,,., :: ... •) ·> ? : ·; • • ·•(=.� I'll': �·:J ::• ,,·-1.:.:., ::. : .. ·-·'132 . · .. · . · . . · · ·. . · . , 133 .' . -� .. . i ··� I I i ,. i i I .· I ···1 lr�. . . '.�-.'?f .§ .4�9.101. EcoNoM1c oEvELo PME� ,ficoNoM1c nEvii..oPMENT §469.102 ..: ·.Subd,As,: .:,Stud!es, Ma.lys;s, reae1u.ch .. M: authotjty �ayis��dy .an� an�ly.ze �cono·�;, J dli-e�Uy !ii eligibl�'.cirpo r�ti?ris or ·en tities or'.ac��ire1 thro�i:h pa rticip.ation in. a public or· development needs m the city, and �v ays to meet the nee�s . · An authority may study thJ \�·pHyate se!!i}. or venture capi�l f�nd: ;'The participation br the autho�ty may not exc!ed .�eslrabl� P.�ttern� !�r land use _!or .!!�o�om.i.? �ev�lopment ·and commu nity growth ariJI: �.id an::(year 25 percent_o.f the. �ta! a��unt_of funds .prov!de� for venture pr seed cap1!,:l1 O�cr. f'!:?lo� affec!mg ,��J �co�61l_ll: ?�v.�Jopmeqt )_ri_'the city" iind make the result of thef ·!:purposes . by '�ll. o�: tb e ·part1C1pants . ;·: 1:h e · corp�ration, ·en�ty, or_' fund, shall rep�rt m_�tu�1es �v�lab!� � .��.'P��hc an.d. to_'�dus try :in general. '�n authoiity·m ay" engage_ Tu� J;, writing e a.ch sax. rrio��s. to. the comm1Ss.1?n ers of �e �uthonty all mve�tmen.ts �nd oth,er: ��e9:1:ch 9:n.d �!s.�,e!1)1.n��.!-�<?!1119:�on_-on e�o9omi_c development:within .the;city{·�" i .,:::.?i action taken by i t sine!,! the 1!18t repo.r�: �nds �ont:rib�ted_ to ,t h� _corp�ra.tion o� enti� ... J·subl 1 6 ,., p bl! ..•.• li . --j,�T "c ., thS ,,!'.-. •·I.'. 'ul � :·,· d ., ,.�··,···· ... ;: •n-!:·1···,····. �h-":;'!'·•� must be invested pro rat.a ·w1th 'each conbibutor of capital ta king pro p_ortional ns1?5. on .:. -,· rr'· ':·"1 •!:I, d e,.�� 0 .<>!!8• .• -� .. ��-��-.a� au �nze .. �U�?SJeJ ,i:i.:auth�.r:itr .��y ,(1 1.. . h investmenU::A.s used in 'tl1is subdivision; the" l:.erm "small business''.:has the me3!1mgJOm an_ !l .1cia , .lll_ .. '!-!Hn al1 1 comme�_c1al,.;1>r µade,.association,·. or anothe r._ orgamzatio ,,: e�c ''t . · ·t· ·· ·64.5 ,.5 · subd 'vi··51·o n 2 :1,::,., .:: :"•1;: · ;. :.:.,.-::. •:; ·::.,,·:.:• • .;;.:::,r :•;_,,·.,.·�,··�· con m d ·th· th · '(2)· h · ... · · ... ti ·· -·c· tr· .. I · ·· h · ·· · . ·, "" inven I m sec 10n ,.., , 1 • • · -••• ·-··, --.. •·· • -• • • -• • ce . e .. WI • .".: . e p�o.se, . .; a.v� .• a. r�<c!P .�n ,o · .. o . 1�1a s, w o . may contr1but,e ,�-�:";, ... ,:· ;· ·:;;. , .1_, i ; -:. : .• , ::.,·. :� ; �-.••• u.,; ,,. :. ,: , ,; .. ,, · ,; • .-.: ·1 •·• !,·.;,,·,, .. ,,/;:·,... :'•!J ' .. !1�•.1,�ad�a?�m� th�. c1cy �?� its �c?no,m1c �?vel�pm_��.t,. a�d (8) carry eu_t. oth �r. P,ilblic rela_�io� � t ��a �?�1':.c;.{29 1.J ·.J02.:·:�,�.n��d . �� IY!! .. 1.98�,,� ��1,.§. 5t. ��J9.9 1:/· .2?.�• .� -�. •.;. :;;;:: ,.,; · act1�ti��-.. to P�fU:�ote_ �he c�ty:l !1nd ;•1.�"�c�mqiih<; developm�nt.:"'fA ctiv1ties _ ,!lnd:e.r· this. :..: r,:, .· .. ,.,. ::,.-,_.. , !,. ·:· '·!t'"··:t� ., ... �1;·::,; )!''. '· ,.,., .,, ... , ..• 1 ::1 ,.1 ;:!1�,.,·)y,: _'"11' •• , ·:1:ir;11ubd1vis1on have a public purpos e.:\!:,· <.-'1' ·�o: ..:!r:,l �.-·J_m ,1,l!"(.o:·.m.ou-!·!:1�•!:><::.�, ·t,l . :•.r.v.l? ·.a." , . Ulat.orkol and S talut.ory Note•,,.; , .. · · ,,, 1991 Leglalot!on . .:,;.; : ... : .. , ;·� :, . .,.,.-.:':· :,1 ::i'."s�bd:'f1::·�-A��-cprp �bll� i��a: ·A�,i�·ri;·�Hty'��-ii�ri��f' co'��y-��-��-�.j��if�� ·�u'l r D.�int l�n: �·;,. ,: ·, ·:-:-·::···;, ,-�··: : :,;. �., ....... �: Th� 1iiei _am·��a��nt add;d �u�d .. 23 autho �z- o thei public agencies, ·cominissions,..-or .other u nits ·of government, if the land can be'i .: · St.1986, §§ 458C.14 , 4.58C.18. · ·. ·· Ing econ�m1c developmen.t aulhont1es to prol'ldeProperly. used by tlie nu thorily in an economic de velopmeilt d' •-' • to t "h .,, Lawe 198 6, let Sp ., c. 3, nrt. 2, § •U . sec� cn111':9l ½> sm�ll bus1!1essas. . . is ... ,c ., carry ou • el l La 1986 40 0 §§ 25 29 ·· · :, · · · · · · ·'' '···· · · · · purposes ��.secti?ns 469.0�0.to _46�.108. ·_;·.· ;.:·· ·-·�:'. __ . · ·· ..... :·'1. , __ ws 1986•c.399 , rt.2'§§'25 29 .. ·;:--croHJle lerencu ·-· ., .... · .... ,.··.·:··• -• • 40 •• � • • ,.. • 11 • • • • • •• , ••"�! . . ,l.,dW8 1 C. • a. , , • � ·· Subd. -18.·.-. Economic develo pmenL An authoril;y ll)ny cn.rry out the law .on.economici ·· 1988·Lcrlslotlon I ·.-... · '·, : · ,; .: · .. , .,: :: -, ·· Secondory market snles of not.es;mortgages,d�ve!o�ment dis�cts. to".develop a�d improve . U1e ,l�nds :in an economic developmen� ;,� 1·'The 1988 amen'dmen_t .added eubd. 22.·· :�' 1 · ,:_1.e·aac.s , et.c., r�triclio':1�·. e:e § 46t'/�·,·. :.:J ·:i:·,_; d 1sbict to .make 1t s.u1table, and nvadable, for economic development uses and p urposes�i 1; .'' • : ; :. , .. · •• . •: • •• :·" • •• • : •• �-: ····:. ·, • .·""' '.I'. ,: ·' : ... , ";,: ,·''•··� • :i .An a�thonty may f1l!,. grade, and protect the pr?pero/ and do anything necessary and.} ' 469•102. GenernJ obligntlon bonds , . · . . . · . . : .• ,. ,. . . : · ··· • 1 · .·.:!-:� f ,. · expedient, after acqumng the property, to make 1t su itable and attractive ns a tract fod = · · I d I t th ·ty • �:;.,..._, .. j-. · . econo mic developmen t. ·_An authority mii.y le·a.se some o r all o! i ts lan ds or ro · erty ··a·nd � ). : Subdivi s�on _l. Auth?rlty; p�oc�dun. A n econom � eve op'?en _au on ... may issue �·(; .°a' • �-�Y. 5.�\�P 1�?,�l .!��;_ll��nt_ �!��1��}� a}}Jt:tart.�?�/� �c��!c ·d_�,ve�?P,!e� <i,!s.��g). � f�o:r:t��il.�·�:b�:��i::�y�b�l�::eduf! !�:cl�:u��r.:�:e dtr�::t��_.:i�c� \Jb-: : , ·. ·. . . _J�ubd. ,_1 9 ., , Lo nn.sJ� .. �nt\c!p_o_tl�� .. o(;b��s,)\!.1':i:y ��o.li'!!'/�g .bo�ds : u ��t�ectionsl: 11:;, 'J)le bon�s may b� .. issued· ·(l) .to. s��w:e. fu!'ds needed by the authority to pay fo� .. a.cqlJ.!!.�d. -�·�·' 0 • • • • 469.102 and 469.103, an .au tl1onty.ma� borrow;to proV}d!3 money 1mme�a�Jy·r��ed. ��'fi it. pl'9perty _or (2).fo.r !)ther purp9sesJn ,s.ections 469.090 to 469.1�8. The . ?ollds ml,\St. �e, m · f�·_': : . _the �ond purpos� .. �e. loans must not exceed ;the •. �mount .. of the �ol?ds:-Th� authon� .ziUie amount and form and bear inter�st at the rate set �y the city C?uncil .. The autho!1ty . , !ff .· . . shall •!?Y ria�olution ,.�ec1de ! thei•.tenns · of,,the-:loans,7,.The . loans must pe ; evidenced ,by; .� shall sell tJie bonds to the highes t bidder. The a�th onty shn.!I pub,l_1s � no.�1ce o.f �e ti�et-t.· l: .. · negotiable no�s ·due 10 no� mo�.thnn_,12 �on�s f_rom,the date .. of,the loan payoble_Jo ,� al-and the place for receiving bids, once at le��t two weelc!I. be!o_�e .. �e bid deadl��e, .. ��c�pl(t�:l : . .,.: ;-·. ord.et:.of}h� te nd�r,?.� tq,�e��.r,_ to �� .r_�p:11tw!,�h �n.ter��.� .. fro.w .��. pr��e!d!' :of. �1e._qon� · if, as· o.therwise pro·vlded lri.sections ·'469 .. 090'to �69:108, .�he 1�s'!:ll!1 ce ·o f:the bo11;�s _is _gpv1:rn�d ·. · · · . l;,;-.,) .... _ .. _-)\'h�� h� �.qf!�ii,.,��.!S�'!�\:l .e.1jd.,d�liver11drtQ ,the'·.bon�!pµ™1¾e�:r-'.n!.e)olib ·miJst '.itbt'b" -ai-b cha "l:er-47 5:ll'The 1authority'When iss"iiinR' the·t;,onds ·1S"-B'·mU nlc1pal·!1;orporation �und:� '. · ·· .... \:Jji f �_:, ·: ·. C?h�0e�, .f_rRm, �.n�·.c.o��l�sip. ll� of .... 't�.f liµth�.i:iW.'!>i-'[�om.:.i a;:forpQratl�ii. 'as socla'6bn"'o' 'Ji.. clapte� 475 ·�·.r3��:ll:i. i':;';_:,i:;s 0 : ':t.ii· r,;. \..,·;r._;;�.�r ;�fH l'j!��'.�ii;;!'.1-i;P:.a-;-..;u. ?i:i:Pu"?"-1 �1:l_ll.l?�:='.: . I ·:.,. m·cf:;'·r:: ,,,.. · oUier'institiition"of ,wni'cb' an ..authbnt:t,�commissid'ner 'is a1.stoc k11oldervor 'officerv · ''"·1i!1>'* -t� ,, · •·· ·-,.-.!i.1·1�!,1_,11 1:·�!�!t•·;1 ·.:ir'Th-,,•:;o ·�� .•·;it,!'l� • .:'�i.:�,,,.r.:• ·''·t·"� -Fts····1;;(�:'s 'fo�ii sfiiil ·..:..�-,... -+:�::.-. '!". '?=> 1.,((ii:,�·.u , J •!l 11 ��«-..'�":·.:s. ;, ,.,, .. , �V.&. . .:::..".t' v.. ,-..,._I.\IH�··-r,f,,.1 ,.:··�� J�'; '";.� .. � IJJ 111'-r,,u,�·10 ' .i;; Subd.:2. ,,_ne'411;�ma\.u.r ty,,, .e auu.,on"',_ W1u1 u.,e.c9nsen _91 ,1 •.. "J . ••.. . . .-. �! ot ni-;J :-:: .. · ·. ,· S�bd. 20.: n Use o r proceeds.�rl\e ·pfOCJ:ed:,a:i>f:.Qbµg9:tions.:i11sµ.ed !>5' ,a�.aqthonty ,un!le� &-�t the ·dai:ii;'de .nominationa,:.'pl�ce. of paymi1i;i�. foryn,:'an� i:ii ta�s .of;�� b�_nds. rfhe. �o_nds.�ta , ! �t� ·:: · ·. -. S!!C�lon. 4��.��8 ,II.'!� te�po�ry)��n.�.,ob.?,tn��nd,��-�',l��i:,:is!on ,1,i .�aY,.�'! ,u�� ·to ._m9:��l f mus t "!aEur.e_:"iieriiilly .. :.Tli_e· f!rsl in�talli:nent ¥1 dll:e .� not" ��r.e:_�� -�J.�.Y�8.� e��-.. ��tv� 1:, :];', . . .o�,p �rch!l-8¢.:.1?��-�. for eco.1:'om�c .�ev�_topme.n�J.ac!}-'�e.s.,.�hat, �he.i 11u.t�!?"o/_.oeheves_ .':"111.1 :: . ,.�t w,�o_t m�.r�.tha!); .2� _y�ars _from �e, d �.te o.f,1ssuan�. :-. : .. -. .-·:.,., ,;-·· ,· : .-···:· .-.,·=:·:. ·: •I ;:,. i ,·., ·.: i:e�u 1r3.f!n��mg., To make. or PUt!=has e the loans, the authonty mar..en ter mto loan and;j ... , Subd . 3 , .. Sign atures· c oupons· Jiablllty The bonds must be signed by tl1e pres ident /� ',( .i,'. re a� . agre_ements, both ._b_e�ore and .. af!,er ·�sl.\-i!lg.'th? o�liga�ions;·w!tW perso�s,-firms;, · of the �uthority, be a t�ted by its' secretary: and b� counte rsigned by .its tre .asurer;· the I : �·�� .1 ... 1 !. ,. pubhc. or pnvate _corporations, f�deral o� state agenci_es,. a?d govemmen�l �m� ,Ul'!de.r� .� signatures may.be facsimile.signa.tures.,. The.i.nteres.t co.upons If.any, mu.st be �ttached to.; .1 I. ' , . term� and condl�1ons the authont3'. c01�s1ders appro.pnate .. A governmental unit m th�i:.thc .bonds .. "The. coupons must be· e,xec uted .and authenticated by th!) pnote�, engrossed , /�.:.��t l ... ; state ·.'.'!�� .. ��;· .. ��;�-�c::�3�:·�nd, ��-�::�:}!��}-��?.s .: fha_p �_r,.�7 �,Aoes ·_n �.t ap�_IY:·:� .th .� ;···or Jithogt:aplied Ia csimile.�ignatuie of �he a u tho rity's preside nt .�nd .�_ecrJ�: T,��. bo nds, 'f;i!fi':i ·:i . · _l��S::;:;: :.{ ·: "•·:?·\·,: �:5!, i:'.'.;:··:·i' '.''.'�,_.�_::.,:-_"' .,,�� \•,.�. '-"':;''� t:\W,t\J 1 ., \ '."''·H· _::1 1;::d . -do not �pQsc)'1ny "pe rsonal liability ,on a _membe,r !)f �e au th onty, .• · ,., , '! . , , .· :·• ,'·. -: ' ':1 ?�:l·;�. :__iju�d:_-2�., .. �lln�d ,underground ap. oce _d�v�l.�pm ent:1Jpon: delegation by a municipal(� .: ·subd .. 4, . Pledg�.:The.·b��ds m. us� be.·. s�cur�d by the pledge.of ·the full faith, cre�it,. ·· / ., 'l-ll; .�� as provi?ed 1n. se ction 4�9.139, an authonty may exercise any of the dalegated powers· and. res ources. or the Issuing.authority 's city .. The authority may. pledge the ·full .ra,th, ! •. �,,: l �;:· !m conne�ti�n ·:W lth!.mined .• wide�gr�p�d.: space:d ev�l�pm�� n?e��.s.e�tions·. 46�:135.�t? ·· ;i credit; and · esouices �f,the ,city only � th� city ,specifically, �u�orizea _the .. authortty·to ,,d�.. k ' I �!l� �-6�:141·:,.'"�'1 1.i:'.Y:��,;�=,,�·.��-;�.u:'?.�'";'t'�� ,'.?.:�f�'.;'!��:un!:'.1 :-"J· 'lt«t;':�:'l;W 1?:\.ttr:i' t,i'!!dJl.:ll }· so;/The ·city.-�o·unci1 mus. t first,'deci d� wh ether th e iss u.a�\:e of .the b.9.nd\l �y .t1!e .autho�ty . f · ;f . . ·:· �u�d. �2?· �ec�n-�� morket. Jfn. a�t�ono/:��y · s�II. ·�t private' or public sale,'.at tl:ie·. .. is 'proper _in eac� case ari� if .so, the ·ainount·of bonds. to, 1S 9U�. 'I'.he city. ��lll!cil shall gmi __ .: .t,",:t: .. ..pnce or �nces dete_m uned by the··authonty, any ;note, vn:i oi;tgage; lease;· sublease,·· lease' , epeci!ic consent m an ordmance to the pled�e of. the �1ty s fu!I faith, cr�dit, and res?urces. � )' ��f-j : purch�e, or oth er _ins trume nt or o�llgation . evi?eiicing or securin g · a Joa.ii' made for the'· .. The·:.au tli?rtf shall ·�ay· th� 'i>rin.cipal -_amounJ of thll .. bonds and the. 1;11t;er_es� on it fr om fl ai .. ·, purpose of econom1c developm. ent, Job creation, :redev elopment;· or:community· revitaliz. a·.,.; taxe:devied under this section to make the paym ent or from a�tho�ty mcome . fro'!_I ��)'.,* ·ti i'.( tion by. a public agen_ey to.a business, for-profi�.or.n9npro[it 9rganiution or an 'individual� • .:, source:,;,;•; .. ·., \'"1' ·,,. · .:.:.,:··<;"; ·':'' :, ;.!; :.: '.--· · • .• , .•• ,., --(-, ''.·''' · .. :··-· •': , ...... :;:::·�.'!:::� �-::· vii !'I-� f !':�� ... Sub�. 28_. : .Su ppl?'l!lg ·�ma!i bue l ��s co'pi�1.' . .-N�twl th�tanding ;ny' ��ri �ry· 1:i.,;.,)th�•.�� ._.;,�ubi . �-., �; ,ji�';)in:.1·kri·7iJfu�ii_ti'1'�hat �s�e� .ti�hds und��'.this ·sec tio�,. s,h�I!, ��Core .i.,-: ,,} 1;: ·authonty . may . pa,::tic1pate with pubhc. or private corporations. or .. other· entities · .whose · ;'' -IBs uing '{h em, l evy a tax for each "year.on the taxable.property m Uie a uthonty 8 cit>:,::�e Ji,; ' i;;�! purpose .. is. -lo ·prov_id41-l!_e ed or-_ve.��e·: clipi�I :to. ·smll,!I : li�sinesse.n h�t }i�yf (�i:ilities;. :;.j � :m1,1�t ·�e ..f�r .aqeast !!�'! perc�n� �ore tl1�n , th!! amount _!_eq��e� to P�Y . th e pnncip al •'.'ltP. ,f.,,)i . . . located. o_r .. to b!).locate� .. �the �!!!�ct._:1.l"?r ,tlJ;:it.p��e.:.th.� !l\ltho!ity may use .not niorl!, �-.: �_11d _in�s t ;on:t!1�.r,�n�� a.s ��e ;p,ru._i�1p 11!. a!"�.m.te�.e.�t ma�e. Th e � _t,nust be �ev1ed � •. , .ll'.�· ! • !.. �m� ·,• .. ,·pe r��"� o( �v �ll�b l�. an?ual l)et.;111\:?m e ?Fi $;. ;.;_ -�P.t;i!,Jally;:�hi�ii'-!,er !i zl cs �, ·le?, � ahli �!!i'. ur.ti!'.,t�e :.P"!11:'P�I l\n�. m!e.re.llt are . paid .in full.: · _After the . bon�s .have b.een;-·� : :t,, · · . · mvest m �qu1ties or acquire equity-type mvestmentst. T!J.'!s_e. jl]��hE��l!!LC!lE,,P..1!.)JJ.!1.�e, ,,.� delivered to �e p ur c�asers, th e _tax must �o1t3o5e rep�aled until the deb t i s paid .--A!ter the r . -134 . . . -.-.... . . . . -_ iU 'l,I .... ; ( . . � !! � : ;.§469.1�� c . . E,�.N 9;c· DEVELO�M!'.Jl i�CONOMIC DEVELOPMENT §469,105� �-) . -bonds .�re _ issued, th!)_ a uthori_ty �ee� no,t tak� _anr . more action . to �uthori�_e ex.t.c.�diniJ !:·� rom ise to imp o�e, niai�lain; and colle�t !"�ugh ren_ta ls, 0 i:3 tes , and �harg_es, fo r the use I ·:-;ass1;5�111 g, ,and collecting the. tax. .. �he !!Uth?nty s aecrelat')'. sh�l 1mmedaa�ly send -� I _:: �nd occupancy o f the facili ti es and fo r seryices furnis hed_!" c?nnec tio n with t�E: �se and ; T; · c�;ti!,ed �op,: o! .thi:_Jevr · to , ��e . coun ty �ud1tor,. �geth er ':"_lth _ _fu)I )nfo�a t:on.,o� .. �-e� ;�·occupa ncy,· to pay jts ·current exp enses to ope�te and l'!laL!ltam th e named f�cll1 lies, and. E bonds .{o� which the l:aJt .'!:!·!ey,e d ... r��-co_unty �u�1�r sha�:ext.11.n�_an� :is�!lSS th� Je.'f'��l !,. to. roduce '.a nd deposit sufficient n et revenue ma special fu nd to meet the m te r�s t :md� ., .} tax-a nnually until tlte prmc1pa_l_.1!:n� .. !n�r��t .:u-_e pa,� � fll;II.,, ;The a_ut!lo':1ty,sh�l l �ansJ!�ii §t · ri�c ipal req uirements ·or the bonds; and to collect an � ke ep any more m oney required �Y� ��-H -: �1e sw;plus fro!" .�he e.xce�s le,vy, 1�.th �s . s��tlon t.o � _sm'?ng fu �d ,a fter. the. pn�c1p a). a��i � �,e resohltionii�' 'l'he au th ority shal l dec ide wha� constitu tes !'current e xpense" under �h is�� · j,; ,: ml:eres� .for.)y-h1ch .th! .4.x. .-�as-.!11:t:t!)d and. �o l!ecte? 1s .. pa1d .. t 7'he authon� 1_I1ay_ ,d 1r��t. 114.,� �:. iiu bd ivieion bas ed on what Is nognal . and reas�i;i_nbl e under generally accepted accoun tin gt , -�� . s_ecr.etary .to. send a �ert1I1ca?! �to �e . 1,oun tr , �ud.itc?� be!o_re pc��.er.J5 � _a; ye�:-'.!'��,-·r,; · rinc iples .. Re venues p led ge.d by the .authoijty !'lust not be_ u se_d .or p(e�ged f�r.any ._otJ_ier:t ti �:.. certificate .must _state_ how much ava_lln�le mc�me,:mc lu �mg �e ;.amou1;1t � �he ,sUJkJ�Jl': . ,�, �uth.ority purpo se or to pay any other. bonds 1ssu.ed u_nde�. t�1s s�c bon or.u11 der se��o� ,, I·� ; : fund, the �uth�nty w�\\ us�.� �ay �nnc1 pal or !"��est 9r.bo!:h on :e��h !3peci fied issue �f ,t.469.102, unless �h11·.oth�r: use �r pled g(is)lp e�i,(i��!Y _a��!1o_n_i �� _I� lf�:�P1.1?:��-��P�1�g • . ,� ,_.. _. .. the authonty's bonds: . The au ditor shall _th e n red uc� the bond levy for that year by tha:�41--;.:i resol utions ., · · .•.. ··-··, ,_. ..... , .... 1 • ··r�· · .-..... ,.,.., ,,...,, ,: ,;{'·;>-; .,-,1, .;u !. ·i., ;·,,!::;, •, :,'.;1 ,.,,.�-!, i l amou nl Th e authority sh all then set aside the certified �mou nt and mny no � use it fo r'l!! ::::, : _ . -. ' 1 .... ,�· ...... 1 ·:· .. -...... : :·· .. .. ;j · th is·eection are not it,'.debt of the;' .. :-1 ,·' any purpose except to pay thc 'j:irini:i pal and -inte r est oii ':tJ1e 'bonds."'The ta.x es !in 'U,is"-�,,.:;S u b d .·6. ·No tcltydc b t;Revenue b?nds iss ued _u n er d ' Th b d bl • ½, ·" i! ,.·sec tion sh all b e ·coll ec ted and sent to the authority by th e cou nty treasurer as pr ov ided 'in!i 're. authority's c ity nor a pledge of th�t c1tt s f?ll -fa1�h and ere i t. e don s are P��a e:�� 11 chapte r 276. The taxes mus t be used only to pay t he b o nd s w hen d ue.. · · -· ·.-· : ·.,: 'i · only fr om project revenue as d escrib ed m this s e�tmn. A revenue hon . mus td �on ·t :J° .'.·, ·� i� · . : · -. . . . . , ... -, ;·r, i ts face a s tatement to th e effect that the eco nomic development authority an its c, Y. o·ffj {-:Subd .. 6 •. • Authorized securities. Bonds legally issued under this chapter are au tho-1 not have to pay th e bon d or th e i n te rest on it excep t from rev enue and tha t the faith,��l !'! rized securiti� unde_r section 50.1 4. ;· A savin�� bank, tru�t compa�y , or . in s�ra�ce:. ', credit, a nd taxing power, of the city ar e not pledged to pay the pri ncip al of or ��e in �r��· · ;;-, � co mpany m ay mvest m them, ,A public, or municipa l corporation may mvest its smkmg . ·. 00 the bond ·. . ·. :: · ... · ·.. . -· ·' .-· , . · .... -· ·:: . _. ··1 : . · , , · ,. :· ., � .. , · ·:· • "· ,m,'! :1,.; funds in t hem .. : The bonds may .be pledged by a bank or trust company as security·!or thej \ -. N · . Ii bl' S t' 469 153· bd 'visi o n 2 •ji'a·��p\1 (ej and 4 69 i54;� 1u '· depositof public money in place of .a s urety .bond ....·:.'°','!.'. · .... ::· ... _.··· . .-... ·.�.;� r-Su��-.7,. ot nppd c5nd e. etc 1onls to ' ,su b' d ·s�ued unde rthi�s ection .and � ' · , , . . . . . : ., -su b d1V1s1 0ns 3 , 4, an o no app y revenue on s 1 . . ;1f c: ,The authority s bonds are_ ms�u �entahties of a ?ubh_c _gove�m�n�I age?cY: -_. :-, �£-� ).: sections 469:152 to 4.69.16? if th e interest on the re venu e bonds 1s subJec t to both _state� r ,-· Lnws 1 987 . c. 291 · § 1 03. · ::,·,,:1 ·· · ,·: . , ; .. :,,,' ,; '·· . :., � .. ,._., .. ·.: .·.i:, ,-. :l:. ·.:. . , .,· ·, .• b.2. �ij '. . and fede ral mcome tax or 1f the revenue bond proceeds are �ot loaned by �.e a�tho '.1ty to i�) �Yi :! '' ;.'r•·: ;�;;·i , �· ,: .:,� '.','�;·.,,·! • .' �; (;::.:::· '::.!:·:;· ;,:;;.:, ' • 13,W;:t! •.r: '·,1 :.': ;;i ·:·i:-,'.:·i ,• ,.'!,, q, t:1,:•,1 • =it ::!· a private person.,;-'•,: :•, ,,. ·. ', ,, .;• ·.; ',.-.,.·, ·,,' ·· • ' :·,, �� .. ;-,,.,{..,' :: !. ,·,·::•:'.',•,:J.,_a ', '. '•:, ,_,•;.. :_.-fl}!; :''"';.:1:··i1ia to rical "a�'ti Slot��;;:!'!ot��-._;:-\i':' :11 :I�: �,.�!'·1986,:Jat Sp.; C,;·3/Bf�-2, r�·i.i%1_:i�l, :t ,,·s' bd.. S ),:Tax l�c�cin�n't ·b�� .. ObU.gatlo�i'sec11r�d ��·�ay abie''rr �m""·tl�· in�emen_( ·�aft -I�---....... � .. �1 ·(-·,\ ... •.-·•..:.,.�1 ,·--t••·-•>t r--.. )·r -··T �\···19gi,--''·..100 §26 ""'·r ·,·-·� ........... .t '"r"""'" ...... i"• u ·�·,·�.. . . . .. . .... , t· ·'.159 1 02 ) . b' t to ''lh e � 1:1;:_ .. ,.. D�rlv ahon: ,: , _n •'.-."·; ·."-"··!-:� -�·:· , . ::· :":-· · .�, .... -iws v, c,·.. , · , •·:,: ....... ,_ "''.",�.::: ,r,.-., ts;, .. •· ·· ·• • cl is s ued' pursu ant to tl us sectio n ·or . sec lOD. "-•• • .?�e su Jee . ,, ... . ,ti ':{. .. ,-" · ,;:., St.1 986 ;,· 458C is ''•/t ., ;:)�_;,,(l�t ;c;.(;'fg,t,u�m!•.f:L;iw,i -19ss 'cTS9 9 irt:l 2 · §0 ' 26 �) ,.,, . �,:!'l'b�Jt � re ve!l �e s · an ' · . ·17 ,., :., . .:. .• ;_ .. ·-· ''"1 · • -� • .-.,:,,· 1 '-··-,_ -· ·: • ,, , .... ! · • .. :,-: • -�� '' !•, · · ,r.,-... ·t�',�i ... �. ,-.�., , ·.,_,,...,....., ........ � ...... 1 ... '\"..: ..... _,·.�·--:.�. �-... ,,_ ·= .• .. :. -: 1 .. -� • i' .. , � · :,", · .. ·, : :'.!..::...1�. · :;;-: prons1ons of sectt0n 4 69. 8 .... ,r. ... �-.. :..,., ·;.v-:.-..\ ... p :.··;· .,. ; .,.-� -s.··-·· ·-t :,.·� .:�.--=a',T�"'-:-::-:··;-11 :�·· -'�� 1 •,,'\; • ·-.:: .... ,� -. .. ,-.n.,• .. ·--,, ...... -........ _,\, .. ,.�.·.!;!.:.· ·· .. ..:;,..-..,--:;:.� .• ,; ... ,.t�"":. 1.,•1\,;, :..i • ...:·· L'1:-.:: • :·::,<{lJ, .,ri::.1 : ._ _ • v • ..... • ,. • • ·• -•• ,. • •· •• ,., ·-· •· , ;': • : 1 ii:°: '... � d:tis:'f 03 !1 n.,;�-��ue ·toici�: 1:p·l�ditt�c�t e�ii�& ';•.t!.(,Jil,!· .=;b1�1:i:9i:::,:1 �!J.:\�J rn' i ;1:,;;"lai��'. :fi, 4ws 198?, c. ,29 1 , I 1 Q�i •• � � .• ' 1 ,,:-,, , • ;,_ '�·-:.::!' J,i( /i!-:-.· •· :i:iii:.ii J11,;,,,,,u:; _1 .u!fot: {1, ' yf..1'.,;:,� ' -�, • " .-• 'I • ,:, O,:,� •,-•C•, /, • •',: ",,',,-1,�0><• (; ,VJ _,.,.;,,! •i,'l;!'�J ,111 ,:,•[1•i,'i•,,,1o:i,;-,,i ,, -I) ... 'o\j,<h; �.;" [';• • ,'(;'-�"I ;•;• •, -_: �••" ;-.:; ·, _,;• '.: ' .-;. !!. ' ;� .:,, .. � _:,_: ,,. • • •; �-; "•� ,'� ...:.: �. • •': ; �,·,. •• •,;·}-: i:.,,:,, f;" ii:;rJ--). ·_-. . -�,,S 11bd iv!elon. ),.{i,A utl;io1jty,.�.ei:0!10_[!1,i�.i�e.Y!;!l_oP.m,i;l)l t_/[.��!'9jity1 1!_i .11y. 4ei;id�.,by ,i¥olut� ·�j p�:·:�:.=':':ii111'to ficiil a�d Sta tul?ry Nplu::'.\i' /.':':':-::��f !�86,'.�st,Sp:,}'�, �·;:,J tt t,. \.�}� .• i" n !_,:· : ' : ; · .tion to iss ue:its revenue. bo[tds ,either. at one·t1me, or in.ser1C11•ti::om·,tim e: to -time:,,.;_Tb' -':�;-· -n . '1--... ,·:�· .. ·., 'i"''�-:1 ,_.,., .'·':' '' , �--n 1•. .,J:.__" Law3 1986,'c. 400;.§ 27 . _ -� ·.-_·1• �'--"'�� .•,:, .1;1�·I ,;: :, .. • . "' \.b·-·,:,._, ·-·. ,. '"1 ·-· d'• ..... ,. 'd·-_, ... � .. .,_ .,_,..,:.,, •. •C··-··' ·"1 ····d· . :.,· 'j ·,� ....... _ a �J?erlvaUon,, ·-� s,;:;-,:,!i 1----!,nit ua•,: ;1 ,::,; ,,., "F• • . . . � .. ' ·.· 27' .. :,,;...,{;i.:•>1,-. r.:l¥;-;,. , .u;.;.:.,, , -. revenue on"':' may b e s_su.�. -·� p �oyt e_monC1y_ .. to .pay._to, a!¥}wr.�; an. _m;e ueu 1 i.q,op!!Pl ,. .!r.,•·� SLl986 -1 458C.16:" •·1:-: .,,.-,:, 1:· :·, •• 1 , ._ • , •• •• -Laws.1 9861 -c. 899, art. _2,.§ _., ::�;· ;;;"f ;·1 ·.:� }<; ' } ;{'i '' · .· th_e .. �u t�Pr:i!J', .to .i:i uich��-�,o r; �.11!1�-�ct_facj li�ies ,·�:P.Urch�� •. !:Q!!_�t}:uc_t.,,�s �ll, ?�!�Ii · s;;-":t,;, .. 1:1 ,,: •• �.. · :· .-••• ·• ":·'·u ... t, ··· 1 ·'·1:r.:,-: -�·:": �_:':�\?i :?�', ?:;!!, ·::_:::'· f'-_{-; ·':\t·.Sj • it . , ' · capital equ1pmen t ,t.d operate a !ac1hty:for economic c;Ievelopment'o! any kind w1thlii-the -1 e:;: ;6-9.1 0"i '"'s· !·11·-, .. ,-th·a·t··'Tnp'·p·l·y, If "'e· de'ral l lmltii.'p-pliee ·,11:. v.'.!�1 11,�1::? :·•:•,::· 1 ·1 .. :;u,,, J Ui 11 . 'h, ,,,.--·'"'t " ··'te -d " '''I t '• ., ..... � ..• : ·•'·t' t. -d '':l"t,s'�···-tr'-,J ·t·Th··-�,-.. ,d, '\· � •o, Cl; OnB �' ' . r .-• 1···• ��• -,.·,1·-1 ;· ;!,� :"•' r CluJ, ��;�_�ay -_o' .. e x n ,'��1.arg �;·fr 1mp�OV9'.��rOJ�,C :.\!.�-�'::•! '�!)n _o .-_-... �:.��S�� .• • 'f · '.' ·., .. v,: .. :.: _,.•,:.,,"" • · ': , ..... .,. ,,, ;,,, .. , -:!°: .:,,d<•I S '·t ,":''·t·' '�4 6909 0 to�,� . · , r ,... bonds 'may"mclude the 'nmount ·tli e autbonty ·conf!ld ers · necessary to es tab hsh an 1 mtial · ::..-·.·Sectio ns · 474A.Ol -to 474A.2 1 apply to -.o�hg�t,ons -1s�u� u? er ,.sec ion� · ·. ·. (" 1 1[,.-:.. reserve to ··pay p rincipal and inte res t 'on . the 'bon ds:'1 The ·auth or i ty 'sli all 'sta te in ·a·,, ,. 469.108 that a re li�i�d .by a federal hrr uta�on n�t . � �efmed m section . 4_71A ,02, t lJ 1 � ] • ' r��ol�.ue!l .:�-��-: �h�. ��nd s_ �-a��. tl��--�tta_c�i!�--·1.�teres� · c��ons :ore to b� ��c��:; · . eubd.ivie ion 9, or ex1Stmg federal law as d efmed U1 sec�on 47 ,4.�.02, _.s��d 1v.1s �qn _ .. s.1. l. · ?: lt ' .' Subd .. 2._:· Fo r m. The bonds o_f �a�h ser,81! 1ssued _by �h� �uth_or_i_ty und�r �his s��?on ' Law� 19�7, c. 291, § !05. . · , ..• ... _,-.' _· -_... · · · ...f �h,. ·1 ; : shall b��r m\;ere�t 0:t.a �a te ·_o r rates,.�hafl m �ture .i\t ,the ,til!'.� or l:ime�·y,1IJ1 1n 2� y�al'll, ..'. .. "· _-: ,, · ·. : , ·_· .··. · --. · -, . . · <Ii • · ';,) 'i . ·!ro.m .th �.da,te_ o! 1�suan��. a!l� shall �e .1;11 ,th e fof!Ili \�h e_t�er_payabl�.to .. �eareri registrable:. � .llletoncal and Statu tory .Notes. Laws 1986, 1st Sp., c. 3, 8� 2, § · .. _.,. .. ,_,? � · : , as to · pnnc1 pal, or fully .registra ble; as de term me d by., the ;a utponty: ··Sectio n · 469.102,·:J , Derivation: -, . -: -· . _,. , .· . · -Laws 1986, c. 400, § 28. . " -, . ,/� l �_.: subdiv ision .6, applies ·to all bonds issue d ·under tb is ·secl:ion,·:and the bonds' and th_ei�·1 : . -SL1986, § 458C.17. · . _ · .. La:,ve _1986, c. 399, art. 2, § 28.. . , �, 1t •.� � ;:,cou pons;•i f any;'when paya ble.to bearer, shall be negotiable instrume nfs,:; •.,. ,.:,;'.:,�' .. :, · .... ,;.·.·· .. _,, ..... ,.!.... · • -, ��·., _.;,,,! ,.,,;;•,,_:;_�,. ,.�.'..(:·, ·� t 1 ,·r-·1 . :�u h {: 'a.'/' S nle .. l'.h,e ��l e��f fe{eii"u �. ��n�._ill.�I.\�� p:i th'e•_�_u th,�i-ltr '.�·hall _iie:)it P).lb�c _o.� ·.' .;,. :��+o s,. ;Bali o_t P.��t�_-.f :�,/:'(,flr,1;,.:.k.��1-.. r:-, 0 ,;::!l•>'t�j ��!'.'\.'h:0 •1ro,r --.r1:,,, ,p ,·--� � -? � f i:�pnv_ate s�le : ;The -�!:m ds �ay· oe;. s9ld m·.the �an_ne_r �'1� £or �1� pri�e'tha� �e au U1onfy � ',. :I: S ubd ivision. 1. ·r Pow er.n An ·economic· d evefop_m e nt authon ty !"ar s�l l. and con_v ey.... � .t·:! -det.c�i!Je� to .b� _for. the_ �est /nter�st. of ��-.1:u,th_o.l'!o/< th�. �?�!3�. ��}'.-�ii m_a�e . �!l��l c� :-property. owned by it·within the .�ity or an e�onoouc deve lop�ent di�tr,�t i! 1 t .d.etermmes·�--� .t ·',:, ·,. and i1 so ,1ssue d , ·may be,refunded ,/"·'. -_ ·-_";' ,-_-·.-' -�·! .. ··; :�·-·;, ·. ··-,· · :·: ... ·-,_ ".' :.�··, ':' i · that th e sale an d conveyance a r.e m th e best interests o f U. 1e. ?•ty .or di s lnc t and 1 ?' peo�le,·� } ·,: ·'· .. S bd '4 · .. A _,. ·· .1 -;,:' T.h :. · ·'th·• . .,ity '·'' ,.� ·'b _..,,,!. '·1 1 "'1·!' .. ,,,.-·,kT:.-�· '·--,�·r·;:: _.,.t.''"' � ' , and that the transaction !urU1ers its gene1'111 plan of economic de velopm ent. ... Th JS se�tlon,.. u . . . -gree men.,, .. ; e au. o n .may y. res.o u 10 n -mn e ,an agreemen . oi; · ---. . . •L I f ic developme n t authorities :_ -. _ ... , co venant w i th the bon d holdsri; or .their truste·e. :The auth oritf must firs t.dec ide 'tha f the .. -'·i _JS not hm1ted by ou1.er . aw:?" pow�rs o econom . . ._ . . ., · :· . : ., .... -. agreement o·r covenant is needed or desirable to1 iio 1vhat the authori ty may do under.this. .. �: :i·s ubd. ·2. ···,:Notice; hearing. An author!ty sha ll hold a-hearing . on the s_ale .. Atththe sec tion and to assure tha t the revenue borids are .marketable and promptly paid.·--\'··";-· ,1 hearing a taxpayer may testily for or ag�mst U1 e sale ,:·:.At le�t ten, but not.more tahn ... ,.,, .. , .... :, · .... ,.,._ · ... ,,., .-.,, .. , ;.-·�· ···,:··:":·: ·:;·:-? ,·, .. ··· · · ·-.-�:'. : .. : .. 20 -d ays •be fore th e hearing .tl1e a uthonty sh all publish -notice.or the heanng_on e.. , Sub� .. 6.-: :;-.Revenue ph,dgc .. I n -issuing_ ��!l_er;il .. �b hga_tj?n.,o.r .r�VJllJU�. ,bond�, ,.ti.\�-. � r� !led , sale ' in ' a ne w spap er.T·.The n e wspaper must be p ublished · and have . generalautboz:ity may f!!OJ!re the p�yment of .�_e. Pl'!n.�1pa) _and . th_e ... ��-�est; �n tl!e. b��d� .. �r. -� J,I �irc�ation in 'the au thority's county and city .. 'fh a notic e must des�b e the pro�rty to beplJldlfe ,of and hC1n . on �utJ;ior1ty .r.ev.en_ue.,; �h e reven�e. m u st. come 1 fro1!1: µ,e ��c.,h�,.-�0 be ._.•� iLold and ·atate :the time and /Ja �e -o f the h earin g ... ·The notice m�st .also . state . that .U1 e�cqu1red, cons true�?, 9r 1 1�pro.".�� .�1th .�e bon� I!�oc.�!lc!!l..�r:f��.m_1o_the� /3:�J !!\Jel!,-�\l�,e�) i· public thay·seirtM temis 'an conditions of the a ale· at the authonty's office and-th a� at ':�. �-h�. b.�_nd-��<:n ��n� ��tu�)��::.r. !�e. 3:u13t1610!1t'., �1�!l •. ��-�-�s,e_��r�,.�\�.�-�l.l.1 1 ��t1 r!!;li:J�,::::-th e hear in g the ·a u thori ty. wi!l mee t to decide if the sale is advisable . ,,;•· 1::·,;� "::!, ,·,�,nu· ' . . ·.· . . ... 1"7 1 " I =.·f l § 469.105 . ECONOMIC DEVELOPIIIEN�,j � ECONOMIC DEVELOPMENT --.. �.. . .......__ §469.108' Subd. 3. Decision; appeal. The authority_ shall make its findings and decision .on � .�-autho�ity to a private person; or entity from assessments or taxes against the leased whether the sale is advisable and enter its decision on its records within 80 days o! the' � f h ts tax d r the lease hearing .. A tn xpayer may appeal the decision by filing a notice of appeal with the district''.! } . property while the less��-is liable or t e assessmen or es un e . . court in the city or economic development district's county and serving the notice on.the -� } Laws 1087, c. 291, § 1�. · · · • ' : secret.o,ry of the authority, within 20 days after the decisio n is enter_ed. The.only ground,.� for appeal i� that the actiol),Of th� _authority was arbitrary, capricious, or contrary to Ja,v,; .i lllstoricnl nnd Stntutory Note1 Laws 1986, let Sp., c. 3, art. 2• § 41. · · ·· · .. , _., Dcrlvnllon: Laws 1986, c. ·400, § 31. · . · ... ,, · Subd. ·4. ·. Te_rms_. Th_e terms and condi_tlons _o! sa_ le of the prop·e __ rty m_ust include_·· the':! · ·La 86 399 rl 2 § 81 · use tha� the b1dd_er will be. allo,"'._e d to mnke of 1t. The authonty may require the § :; · St.1986, § 45sc.2o. · ·. · '.':. : ,. · '' · · ws 19 ' c. ' 8 ' • " · ; • purchaser·� pl� securitr _to �ssure �h at �he property·.wm he given that use .. In deciding-,;j ;' ; ·-. : ·. : ·. :·:: ; . · .. .: : . . ' · . ,. . .. ·: ' ... :.. . · � ··:-.-.. -�, . · ·· �· · the sale tenns and condit10ns the authority may consider the nature· of the proposed_ use·j �-469.1 07.' ·city may levy truc�s Cor: e conomic _development aulhor ty · -·. '· · · · ·. : and the relation of the use to the improvement o f the authority's city and the-business· !. ·,,: .: Subdi�l�ion·· t : · City irui °ievy. A city may, at the request of the authority, levy a tax in and the facilities of the nuthority. in general.: The sale must be made on .the authorlty's:l '· ;�y year for the· benefit of the a u tho rity. The tax must be no t more than 0.01813 percel)t terms and conditions. The authority may publish , an adve rtisement for bids . on the l of taxable market value. The amou_nt levied ,must b_e paid by . th? �ty . treasllfer �-t�e property at the same time and ln the same manner as the notice of hearing required in ":E. treas urer of the authority; to be spent by the authority. · this section. The au thority may award the sale to the bid considered by it to be most ! Subd. 2. Re verse re.£erendum. A city may increase its levy for economic �evelopm_ent favorable considering the price and the specified intended use. The authority may also �-authority purposes under su.bdivision 1 in the followi?g way. Its ci_ty council mu.st f1�st sell the property at private sale at·a negotiated price if after its hearing the authority ·: pass a resolution stating the proposed.amount of l�vy mc�ease. The city must .then pu blishconsiders that sale to b e in the public interest and to further the alms and purpose.s o f 3 the resolution together with a nottce of pubhc hean�g �n the resolution for two sections 469.090 to 469.108 .. :; ... · .. .. . ..• · . · • . · . . ·. 'l-successive weeks in its official newspaper or if none exists m a newspaper of gen�ral ··Subd'. s: , · On�-yc� dendll ne.· · Withi� ��t ye�:· fr�� · ·th �--d�te· of �urcha�f tiie l circulation in the city. The hearing must be he)d t9:'o to four week� after the fir-st purchaser sh:ill devote the property to ils intended use or , begin work on the improve-1 · publication. After the hearing, the city council may decide to take no action o_r may adop t ments to the property to devote it to that use. 1f the purchaser fails to do so, the .:. a resolution authorizing the proposed increase or a lesser increase .. A r�o!ulion �uth�m-authority may cancel the sale and title to the property shall return to it. The. authority ,j !ng an increase must be published in the city's o!Iicial newsl?aper or if �one_ exists .'� a may extend the time to co�ply �ilh a condition if the purchaser has good cause. The .,l newspaper of general circulation in the �lty: T_h e res_olution 1� not effec�tV� if a petition terms .of sale may ·cont.nin.'�the� provisions that the authority)onsiders necessary .anµ_ j requesting a referendum on the resolution 1s filed with the city cle!k ,y ,�hin :30 days ofproper to protec� the public interest. A purchaser must no t transfer ti tle to the property,! ., publication o! the resolution.: The petition must .be signe_d l>Y voters equ,ahng.live percent within one year of purchase without the consent of the authority.' ·: '--· ··· ·· '· "'··: ·" --��' of the votes cast in the city in-the last general elec�on. , '.l'h e election m�t be heldSubd. 6.-. · Covena nt running ·with the lan d. A sale' made under this •·sectfo n' must-·� pursuant to .the procedure specifi e d. in section 215.58. ;,-.-·:. c'' ·: .. : ... ; .··., · : ... : .;.:.-: .•. : incorporate in the deed as. a .covenant running with the .land .the .conditions of sections,-1 Ln.ws 1987, c.'291; § 108. "Amended by -Laws 1988, c,,7 1 9,"arl 5, § 84;' Laws 1989, ·c: Z7?;art. 4.'. 469.090 to . 469.108 relating . to . the usi!." of the land .... If thti'"covenant Is violated the ·?<f f" I 64. · .. , _ ... •;•, :. ;,, ·; ;-.·,:··,=-=·· -· ·:: . ., .. •:·· .,., , .. 0 ,.J , .. · ·;• 1 : •• ·'!!.�,-:;�:. �:· :;:t{�··":.=:'.�-:_;. :_:t authority may declare a·breach of. the covenant arid seek a jiidicial decree (rom the'aistrfot ;:) ::.. . , lllalorlcal itnd Slahal.ory Notes utes 1.o "!AX capacity rate" in Minnesotll Stat'!tes court declaring a .. !o rfeiture ·and il 'cancellation of. tlie deed.:".',"'..-· :�::..:''1 :';'\; .. ,:· l· '.i:n•)J :!_:;�� :;_' · · ......... �i .'.: -� .. ·:-: ,·;·.,-•• ,,, • ·:··"' -........ '.', 1988 · and ' aubaequent · editions ·-of !th!!"•alatutes ••... .-.... _._._ ·.· · -•• ••• ·: .......... ,. •. ····:······•· •1 ·-·: •-1 -�4 .$:, Dcrlvntlon .. • ,' . ;--. , ·,... t •2'15 0l1"'""·•'····--r •··'-'r1�,.,. ... . •·: Subd. 7. · Pl�ns; spe<;lncntio n�,:�·-�ooveyanc� mll�t 0;ot be. 111a�e. until, the purchaser.2" .' .. , Sl198G, § 4580.22: ·· .,, · ;.· :.,··.:· !· ' -1·j · .. ' :,_':.::�xcep, I:..· 1 .:.1 ,:£.;;;�·:;,; · .... :'.�;1�: t ·1� ... �· ,\ •• , ; gwes the authonty plans and spec1f1cat1o ns µ> develop the property sol!3. · The authority 'ff ·· • Laws 1986, ·1�t Sp.; c: 3, a.�. 2!, § 4 • ·.:. · :_ ... : :}9,89 ��·! �t ,o,n: --�,. _.:' t / .:; ,: .,.7.-_;,,.!: · .... :· · ·must·:Opprove the · plans : and specificalions: in · writing.'·,:·The ' authority may · require � -, l· Laws 1986; c. 400, § s_a: . r,,_ � !'_ ·. -�-_-;. • Lawa i989, c'.' 211, arl '4, § 64 ,· in su�d. l preparation: o f final plans ·and spec!ficatiohs before the hearing on tlie sale. · ., · .': _.,,· �· � :, L.'\ws .1986, c. 899, art: 2, § 83. ' · : · changed , the. maximum amount o( the lax La�� ·1987,-�." 20 1: §, 106. ;·,. "·. ·. · · !-·· • · -• •• · • · • 1'' .: • ·• · : •· , ·• ,i: · ;! 1988 Ll:glalnllon · · · fro m .76 mill time& the gt"9SS lax capacity of . · .; Lnwa 19all, c. 719, nrt. 6, § 84, direc t.ed }he taxable property in the city to 0.01818 perce�t. of ·• · ' -� revisor of alntutes to change the words as• truuible mnrket value, and deletd a provu11on Hlalorlcnl nnd Statutory Notes Laws 1986, 1st Sp., c. 3, arl 2, § 41. ;i eessed value'' or "aa.,essed volualion"' wherever th at the lax is not s ubject lo levy limits. . . Deri vn t l o n :' ,! �· ··,.· ··· · ·: ·• : • 1 "· •· .Laws 1986, c·.: 400, § 30. ·' · · · :· · ·J they appe11r in Minnesota Stntutca lo "gross lax , _ 1989 c 829 art. is ·, 20 A.;;ended · S L1986, § 458C.19. : l· •; · ' · · ',! •• · ·· La 1986 399 rl 2 § 30 · � capac i ty" in Minnesota Sta.lutes 1988 ond "net ,.,..ws ' · ' • • ' , J • .... ·:·. : ,_.<� ...... ,•_-·· , _w� !c .• ,a .. ' · -'. · =·:·' .. :;· ·1 t.ax capacity:'.'inMinnesotaStatu t.e sl989 Supple-' Lawa _l988, c. 7l9,,_art. 5, §.84•8 rev,soc s lll· · f mcnt and subsequent editions o( the statutes strucl1on, by excluding from its scope those acc--tG!i.l OG. Advances by authority ' · · · · 4 exccf't § 275_011, and chang� th� words "mill lions o[ Min n�sota Stntutca amended by Laws An authority may advance its general fund money or ·its'\:redib, �r both, witho�t � rate' wh erever they appe ar m Minnesota Stat-1989, c. 329. ...-. : ·; · .-··.. ···· interest, !or the objects and pw;poscs of sec tions 469.090 to 469.108.: The advances must ;ij 469,108. Special low; optional.use . · · .. <:·;: . , · .. :-, .... ·: · ·; .. .-: ·.· i ,:. .,be repaid from the sale or lease., or lioth, of developed or redeveloped lands: • If l_he money 'i .advanced for the development or redevelopment was obtained from the sale of the � authority's · genera! ·obligation bon_ds; then the advances . must have not Jess thari the l averag e :innupl inter�st rate that is on the authority's general o_bligatio� bonds that a�e � outstanding . at the bme the advances are made . The authority may advance rep111d a money for more objects and purposes of sections 469.090 to 469.108 s1.1bject to repayment i, in the same manner .. The authority must still µse rentals of lands acquired with ndvanced ! money to collect and maintain resel"(es to secure the payment of principal and interest on f revenue bo nds issued to finance eco!'omic·development !acllitles, if the rentals have.bee� 1· . pledged for that purpose under section 469.103 .. -Advances made to acquire lands and to construct !acilitil!l! for recreation purposes if authorized by Jaw need not be.reimbu rsed .. A city_ that has �stablished a port authority by speciai l�w or that h!1-5 been �nted the . power to establish a port authority by special lav,:,, or a city '!"hose city couoc1I has beenauthorized to exercise the powe rs of a port authority by spe�1al )aw may elect to use thepowers granted in sections 469.090 to 469.108. If the election l9 .made, the powers a�d dutles sef forth in · sections 469.090 lo 469.108 supersede the special l aw-�nd the special Jaw must not be used after the election. The use of powers -under sections 46�.09? to :_ 4 69 .1-08 by a city described in this .section does not.impair th� security of any obl1gati�m s .. is·s ued or contracts or· a�eements executed unde� the . spec1a) ln:w-Control, autho�ty, and operation o f any p�oJ ect �ay be l.ra1!5ferred � the auth�n�_�n �be m�nne�-p_r��rded ;_� �::�i9�;j t�;:t§ -��??�:·:, \� \\ ,. :.r ... -�:: ;;;-};':'.�;:_:;::·:_;,-,::·:· .. :'} ·,_:: ��-:.:.-:/:,;, unde.r this section.-Sections 469.090 . to· 469.10_8_.do not ��empt..)�11ds . le�ed Jrpni. ��., 138 i39 ...... -�, §4_69.108 ECQNOMIC DEVELOPME N;� , •.. . . ·· · · ·.£ / ECONOMIC DEVELOPMENT §469.1 11•:,,.": .. 1 Hl��rl��l;�nd S_lfl luto_r-, N(!I�, .• :-'.-... _-.. :. ,;Law� 1986, 1st Sp.,,c."�,-arl 2, § 41., .. __ i� D�rlv11t lon: · ·, • · '· .,· ·• ,.,;,: ,,,.:,,.,_,". .. .. � Li.ws 1986 c 400 § 33 : • · . : J •• ,-;� :_�--:: S ubd. 7. i •·nedeve lopmen l lire�. ;'Red evelopment ar ea" mean s a'depress ed ai-ea within... Sll986, § 458C.23. ·' ·_,: ,., ____ .. , ·:.· ,': ·:··,Laws 1986° c·-399' a'rt. 2 · §. 33 .,. ' ' ·-��ij.· :� the' territorial 'boundaries of any rini nicipality or group of municipalities of the st.ate 1 •· "··· -'.":.:· ···.: :._-•• • •• ··, • .. •:·-.:_.·.:-: · ,.'-· .• : •. :� ·• :: ..... -�� ·1.lti ,�:re nsonably defined by the local or area redevelopment agency wherein critical �onditions ·I ' ;4 69:iosi::: Li�ble· in °Con trn�i: or-:tcirt ·.-:·. ,; !,,•' >'.-· ·: ,. := ·; ..:_ .. ,". . ·: ,· . . : ":,j;� :;;_!'. of u nemployment,· underdevelopment, economic depression, depletion of natural resources, ·-fl -:·. -·Su �j ect to' th� pr�visi��J �f ch�pter' ·i�s; �� -�uth��; �ii-�l�::i:iii:\��-��;ct, �;_ In� -� :u:1 ;:t��d. re l i�n-�e�-��,i��!?.�i:. �-s_i��_?,�?, ��-!��-��-.,� .. ��:�\ ��.}�.; :T��!�-'.t��i�--!�:'· i�--tort III the same manner.as a private co�oratl on. The _commissioners of-an authority t '.;;' · '-' · ··· · ·' .: .: .·,· ·.,. ·• · ·· ·' ·:· ·· ·., ·' · ··· · ' · · 1 -� ·.-s�all not be p�rsona lly hable as .such on its con tracts;or for torts , not comm it ted or f :f.: Subci."s. :·Fcdero1 ngc ncy;'"Fedenil .a.gency" me:ins ·Uuf govem meilt'·'of ,the United·J ';(', dire ctly aut�omed by them,,,,'.The_pr!)perty_pr_ funds.of an au thority shall no t be subject to i-.:( States ·o r_ any department, corporation,·�gency odnstni��ntality "thereof.�1r:•,!···· ·:. ··:::1 � 1 ·t :·· · �ttach�ent,. or ..to .Jevy a�d-,s�l.\!.,�n execution, . but, if an· nu �ority ·refuses to pny "a\. ;i. ·'.· sutid :.·9? .. r,i.in;e,�i.(��o-1{i;t·:;,Miiiri�o-ta'nccou nt" �e aiiii 'tiie acc·o�nt approi,i:iat.e4 ,, j r,.-,' Jud�!!;nt :�!:��ed pgams_t, It .In ,�Y.,'_Cf Ur�. o(_compet.ent jupsdicµon\ the district ·'cou.rt for ;;;; to th e '.e,n�rp n�d economic ,de velopm�nt :aµth_ority �y · s.��90_�}��:!:��.'� � -��!. !1 J!?t;1l,�t J :-f · t!ie_ �oun_ty l_n _W h!Ch �l!l r auth�9ty _IS ,S ituated may,· by · Wri t of ·hJ andamus .-direct tJ1el • , agency,m ,rm ancmg or_planmng �-��deveiOllllJ ep,t ptOJ e�t. ·.: :, ,.:·--.� . .' ,. :,.": ..... : ... : i"-.ji-!· 1j !{ ' ;�0;::�.i�::_a�-�h�n � .� -�:�:?�·_l-�1��:'-�J.r1 T .. -��.,11�.��:��-�p_n� ,��iJa�15f ��:: •, su i;7i.'iio: :;:_ 'it�deve lop·m��t ,pr�J ;;1.; ·.''.'R�d�-v�l�pme.�t j;;�jecr; ·:;.;��ii�; any., �ppr�ved ;,!�. J: · Laws 199li c: 34 2_.-§'is · ere j��-5· _.io9l !"• _ .. , ·• ·• ·... • ·-: • :---! , .. ,.t .. , . .:" . , ,. { · site, structure, facility, or undertaking . comprising or .connected w.ith any Industrial, � ,, '. · .. • ·. : '·: ·. : . . .. . : , � · recreational, commercial, or man ufacturing enterprise established or assisted by a loca l, ;j ii • : · ... -� -�·-·:.-.'.·· · .. -.:.,. ·.·. ··: · :· . .' .�,��A ��;�L�P��/:_ ·· .:�.:-: -:·· · <.1 . .' .. ·. :_ \� re::::\o;, _ar;u ::�e:;�:�=:��gae:�: means any area s� de fin ed in section 469.108 of � • • • ·:-.:-:-, •••• •-'. ;.; , 1 • :.�; ,::· .-::-• .'".�.:--:' ;·· ' '·'� ·: ·-·:" : .·.�·::• -,·' ,. ·,·. : • • • : .:: •:."••;: t the rural d.evelopment act of 1 972, Pu_blic Law Number 92-419, and unless in conflict with ?'i1fi ! · · 4 69 109 Purp o se·· · ' · ·--'"· · , .. , >)._ .,r-.t,, • ·-•.,:·1,, ,1 -�,! 1 1 ·, .. • .. , •• ,. T , .... :, :J that act,· shall Include ·all areas not :withln ·:the .outer boundary of any city having .aj, ! � , · . :···· · · 1 ·J: ·'': :' 1 ''1 �-, ···t;!:�': ·:-:":; ;;_,s;;;.::. • · ,;;., . '· ,:'··,i"-�1 --�··: ·. � .;··: . .' ,;·.: ,:� :,popula tion of 60,000 or more and its Immediately adjacent urbanized and urbanizing areas;;"i'_, � : . 'T�e :legislature finds that �here exists in ·the smte cerbli�-·are�s-of -��-bs ��ti�I ·�·;er� with a popul ation density of more than 100 pers ons.per square m ile.· :··., · ·:·:. ··.: .: ... _ :;, , _ r\· . persistent une_m ployme.nt causmg hardship.to many individuals and Uieir famil"ies and that .: ·· · ·· · · ' · · · · · · · · · · · · · · ·, 11 • • • f I there al o t ta I d : ' Subd. 12. · Indian economic enterpris e. "I ndian economic en terpne e means · any ·.. I . s ex1s _c_ er . in ru_ ra . areas where evelopment ·and :redevelopment should be � d f e n d Th I I lli' f d th "' ,; .· commerciat, indust:rial, or business · activity establishe� 6r organize for the purpos e o . �. 1 -f {; . . �nr;�\�;m�!�r:. .j� '��-�:;tio;\!fth p�:e;;d:��I f=��t:ho��-!;;i��:�:� I ... :: t1i!�\it1��\�1 -f��l��-�.�5 .. �� }�.:��--�y -��:1�i�0f};��;.��t�:� ��o��rf��; . !.!�''-./ . areas a.n� areas of .substa ntia! 1lb<!_;ch�onic,'.'unemploY"!enf'in · plnnning :·a nd ·financing=J ,,, . , .,,.,1 1 .h,.,,., .... ,,._� �-, ..... r 1 .,., .-·•r ., ... ,:, ... ,,. . ·h ·1 .. -r�-.:A ; ,,. .,,:...,. /-,fi'l .,,, :,,,;,. .. � . •:.. I ·t�..-. ' ec_onom �a _redeve/opmen�. by -pnvate. enterpr:1se, •en.obi ing� U1ose · areaa : to · en hance •their-� i:: .. ·sulid. 1a: . lndlaii tribe. "Indian tribe"'m earis ·any group (q�al ifyi ng_J.l!!qf!r f!1bli_�·1.;aw: �[,. .:;,·:_ • · prospenty by .the es t.a b hs��ent of.s tab le �nd divers ifi ed local_ economies, and to. p rovide··J ,._ N umb er 93-262,.a ection 3.1 · ,.. . ; ,· : .... : . : ,. : ,:· · ·: · .. : ,., .::•:,· -�· ,,_., .. "'\:-."f �·'·,-.•;; r • • .. .facih_ti�s and respurces:-_. .. ;. :·-::· ........ -.... · � ·:.. . ... __ . ·. , .. :·· t,. , ·· , ... •: -� -.... ·. ..� -·· - 1 :. I .. -..; �:j � .. ; ·.. . ne� .e!11p]oyment opportun!�e�-��ough ,th!)_ dey.�Jop_l!!!!nt �ntexpansion of new or existing� -�� ta., wa"l .98_ 7,'c: 291, § t1r·! __ ., _.:·_,;:_ ___ L�:i:,.,':t.:·_",.;_::_'}I :;··.;._; ··., ·-i.!-i:�, ·�-··.: .. ·21._:._r .!�_1_·_ •••• 'i ':_,i __ ,· ,_;:�.'-i ;tr.): .-:. · ::; iii:::.r �{l �l'lUl":iLf (th '·r:J�J ·�1!!;iC!it��t..A;t•.nJ·i-ji�({ .. :-" .&,,;·\ :·,1-j,;;...,;--·;:.-;�,:�,.!�·t::� \�;·H-·��h:'li.�i::11-'\m! i:.r 125 ti.s.o .. :A. :§ 1452. : . .:��t'-: .. �-·:-_ •. · � :.· �-/ •. �-3:ii ·J�\:;:j uhJi.. '(.f;U t :�:.'i.Hiqij�:Jinc:i·� .. �;!!t.;".:i},_ . _ :::_1J;,_,.,,V1 .. ,:,1�· �r.:.. :._-: ·; 4': e; e�s n�t:�! IDOS !�Bt�th�i.e!ltilblish!llent' of · local ·or.regioiin) 'are1trecleve loprpen�� :c:: j(!·ir.iiji,,�1.1 :;d -.�j J i/r.,i �·,!a�:;:.r ;,,��;, .•JJ' ,;�•If '._;.;�;·,��I -� �e::rt:ii:,�1�!cSt '.',:;(-ll!li�l·,1!;1u2:'�.�. · · .. .._ ·-1 . t{·/. ;· ,: .· agencies ID M��sota ha�m g -th� POYfer .to .acquirer build, lease, sell, or .oflietwise provide ;i ·::·:. 469:ui:'.nLocal or 'arta ngen�lee; .. eatnbl lshment:i -:;·�iJ -lu · il•ti;o.� ·,!�11�1.{i wni f,-ym !M .. ' _-JJ' 1:· . ._ . plants .an,d _fac1bties .for -md�t".!i�.l,.:t:!:C�e�tio n nl, or,._C(!tr.u�eri:ial:_d_�"'.1/l!)pmerit Ml.I .crea te � .. ·"'. ·,,. ,,·.,,,, .. .., "''·';!• •• : .......... < • ' -�· .. "" I '':i··· _ . .r.,·.,, 1:·a•,, ••• : ··1 ·�'-·"' , ........ ,,. -� ... , .. -. ,,; .•. IP.:;; -: -: : . . '.1��v,.eµ,p_?J'!T!ent �n.d P.r�mo�. e�OIJ.,O !!UC .rede_velopment of rural areas and of. depressed or � :,·· .. ··; S iilid lyls lo n' f� ·. ;·.Flnd lnge )equlred. Jh oruer' .to :'earry '.ciut t 1e purposes .o·( sectiqmi .. ·,-�•�• �!:l {,:, . �nbdJ�l'.�!)Ve)ope_�;a,reas Jn ,thl!. s.��,: an�,.t.ll�t the _ accomplish m1W,t,Pf;,these ;objectives is' a .l' :�. 469.109 . to 4.69.i23;' iiriy"'municipality or · group of 'miinfo ipalities•'majr ·estabJjsh':!i''publlc· . � , -!,.,. ·· P.1:1 1�_.P!!:_l'P(!S� �C?t \Yh i ch public; money may be spenL • . .: . ·. .. , .· .. · . · ..: . body,·corporate ilnd politic; td be know1{as the municipal 'or area redevelopment 'ag'ency inf:J{ l ff 'i kw�·1ss1, c. 29i, § 1io.'".:'. .::�,�:·,;� ;;:::_;_ :·:� •.: , ;!:·,·;. , _: �-� ·-::, ...·,"·.:�:::,t.� ... -� ;·'.! °i · and fo r that municipality or group of inunicipalities:·No:such agency shall b e establish ed t.<_.'_ :.•,. !� -, 4•·5··9,•Jl :·:-. 0-_-.:efln:\. '.; · . .'·' ... ·:'.·,\.: _,7:_·, :-·�_: :_::,. · .. :·_: :·_.=: ,_. ..... -· �-.. -';,': _.· .. ; •._ .. _,_ .. ·:·.·::·.'.: ·,: =·. -.-.. =. -� · untn1 the governfi�g dbohdy ?f the municipality sh all by �esolution find that �e area is !'/i ,. l j --· • rura area as de me erem, or:·: :: :-. :·: . ..: .. , :'> .. � .. ; ·: : �' •• I• : -1 �,•, •'• • ,ltlOflB .• •, ' '""''( '" �' ' • :'.,l:: j, � .. ' ,: : ,:i;;,_..;,, !Jr,) ,,,. • '"' ,';•,l ·:, • ·•iJ i ,: (1) th�t there hai existed in the area; $Ubsta.n tial and pers istent unemployment ·for an: 'flt: :.: 8':'bdlYlslo� I .·:. ��I IY;. i;:�e.cti��s: 46_9�·0'9 't:;· 469i1.2a/fi;�i.te�a"_d,�.Cfued "it�is· :j extended pe'ri od o f time· :•: �--,) .. :·: '. :.,,.•:; ·: ·, .. , :., .. :, ,·: ,,-,•:'t•oti\<>'1 ••• ' t-:,: ,: ".I ·.,:··'.·. •I·I 1 q ··�ec.�o �::h.7�-�-t�� ."!��mngs :�.v.��,t��m -.h�rem, unl�ss the -context indicates othenvise. f ·: (2)°th�tth�-��--6} �n��lo;;!ie ��1 ��i�d�i �·�;�pfo�i�t d��-i��ly _� .. ��;��, i }:-;, .S '!bd. 2. :� �u thorlly. "t--.uthority '��ns ti1 e:.11ne;gy, an� ·.�c��om·i� ·.d�v�lo�in��t: au: }or s easq nal fact.o rs; is curron Uy six percent or more as detenjiine d .by a-.:ailable sta�_or�, ,;� thonty: ·'· ;'.·,:: •. .---:--: ... ;.;:: ·.:· ... ·.: ·., �.·.-·, ... .-·.,: .. :.:. ··-...... ··i federal sta�tlcs;·.:and ·. i·.· ; ..... · .. ·;, ::"-,,.'.'; .·.,-.. -,·�--�;.,.:.,.-j ·:--;�: .. ·.::�:-�.J-_::·��;-�1\� .-.. :-�'!�,d:· 3. I,, Local &gen·c;:: "Local age ncy''. ITH!3t18 . the' 3:re!\ ·j,� 'muiiici�al 1r(!d��efOp�ent :1 ,. ,:(8) t);�t ��nditi��S Of �hr��i� -��pj'0�11l��t, �nd��d�veio�.:r;�nt��f ;��1 ·;e��;::] 1 � ae;e �ci�s ·create� or. authol'!z�? t? :-�e : created : by i;ectio ns · 469.109. to 469.128, or th e f and . econoT11ic': depr�ss_ion : are , not , likely --� be alleviate�_-iwjtho.u�. _public financial,. or ,, • : · governmg b ody of any Indian · tribe or any · lmUty : established and :re · · d b t.h t ;planning assistance to prov ide th e econ omic, oppoi::tunity: f!)� PP!'.a�, }!1.4.�?:i,al, fel:!!�-�o.!1: .a, .. -.,: •..• J .. ,j governing body._.,.,_, �·:·1 �1 .,,:-:...,·.p ·.:,' v,,,.,_,_-·;, · :' .·,,· •. : . · ':>:, ;• ': , ... , :. -� --,.:·,-,��,�1.1;8., .. /, , �. 1 l!l, comme_rcial, or manufa�turing_ enterprises .. _ , , .... , ....... ·-;, ___ ,.,_ ..•. ,,· · _. . ,., -� �'.i:!ubd'. ··c i) �iurticJ�a lit(i Ji�:ticiJ�ii&: -�:��--�� h·�:n'�: Ai1e '�h�i;-�;°'sk��- ry�c·i�--.J ,t 1n maki�g the 'd��rmin�tfc)ns und� this" s�bdi�si�_ri; -u:;�, gove�i�g b�di.'shalf co�sfder,county, .�wn, o� scho ol districL,·; ·,. ·i:-1:· 1 ;:_t:. ·-:,.i:"�'il '.·:_.,., -�··,::,· _; .·. _: .. , .. ·.. .. · '. 11 .. amon g other rel evan t factors, the number of low inco me -farm .Camilies iri th e surrouncµng"· • • • •• ··-• • • • • · • • • • • _. • • .. •• • .. " ' • • • • .. ' • .. J '' farm areas, the proportion that such l ow income famili,es are to the _total fann !amilies ii\ :th: S�bcL . 5• _. Governl1;1g body. ''.�oy�rnin g �boaf.'·m�ans tli�. courici°J,'b;a�d ·of t;;:usiees ' hr 1 such _areas,.the. relationship of the in, come lev __ els, of_. the, !,a_milies i_n e_ a. ch. s,uch_ area tq th_ .eo _er _body_chargedw1th .govern mg anxmunicipali ty .. _-,-,_..·.·:.:: ·• .. �.:,.: .. :, ;: , ..• :., . .-. J -... -·' "•: ·•• • • · '" • •· ' •-'-··· -··< • --· . · ·-·· •. ,1, • .... ,�.-, ;: �·, , .. :1, • •. •• .. • -, .. :-, ·.: • i. ., genei:al .levels ·o( income .in th e .United Stat.es, Jhe. curren t and prospective__ employmen.�· ... Subd. 6. Board. '.'_B oard'' m�ans �e �overnin� b�dy .. �C 'a'�/l��a.i' �r.=ar��d��J�;: j opportun ities lri 'each . such nre'a,·· the· ·e:<tent . of ·migration 'oilt_':?f. -��-_ar��; a?� · Uj�ment ag_ency created m accordance with t he prov isions o f a eet!ons,_469.109 to-469 123 ·':i ., ... proportion of the population of.each such area which has bee n rec�;-;!!S: p��h: �s.,�t:1�� · · · · · · ·· : l �Q · · ... ,, · ., · · ·· ·· ·-· : ---� ! from th e federal gov ernment or. from Uie state.:,. ,· ·:·. :·,::;n,. :, .. :•. <!,, ... -.• • ,,,,:\'O,::-!\:...,.� . 141 j .. ,: COUNTY OF ANOKA Office of the County Board of Commissioners GOVERNMENT CENTER 2100 3rd Avenue · Anoka, Minnesota 55303-2489 · (612) 323-5680 JIM A. KORDIAK County Commissioner Mark Winson Public Works Director City of Columbia Heights 590 -40th Avenue N.E. Columbia Heights, MN 55421 Dear Mark: December 8, 1992 I recently met with Edith Wargo and she expressed her great pleasure and appreciation for all the fine work done at Wargo Court to make it so festive for the holidays. I am pleased to be associated with the park, as my father had worked so closely with Joe Wargo and the City to develop the site. Edith suggested that the Star Tribune be contacted to see if they would be interested in a story and picture of a community effort such as yours to dress up the downtown business district. If this idea appeals to you or your staff, please contact the newspaper. Thanks for all your hard work--you have done a fine job. JK:lp cc: Mrs. Edith Wargo Sincerely, �Wt<� Jim Kordiak -e,.1 Anoka County Commissioner :-: ��··_,z�: .. :· 11-"") r. .-) �"'"'? L..: v 1J � :,.:, ..:,!_ f""-. ,: '/��,: CITY OF COLUMBIA HEIGHTS TO: FROM: ALL PUBLIC WORKS EMPLOYEES MARK A. WINSON J,4J PUBLIC WORKS nriicTOR/CITY ENGINEER SUBJECT: WARGO COURT DATE: DECEMBER 9, 1992 I received a call today from Edith Wargo, widow of Judge Wargo, for whom the park is named. She asked me to pass along to all of you her thanks and appreciation for the Christmas lighting at Wargo Court. She stated "the display is more beautiful than it's ever been" and that she has heard many compliments from people. She also said that the overall upkeep and appearance of the park is better than ever and that she truly appreciates all the work that goes into maintaining this park. Although we all know how much hard work goes into this park and the frustration caused by the constant vandalism, it is nice to hear once in awhile that our efforts are appreciated. Happy Holidays! MAW: jb 92-710 /cc: Stuart W. Anderson, City Manager rn R 0! � i "1 J ..... '-·-' r,., n rn R IC1 Ji \H '->'GuLllS DEC 'Bi 1992 r��-'' P, r�� /\ c�� ER [ID CITY OF {V'\! I iiJ�'.?lA H'f:IGHTS vL•LU,n.:,..11 L.