79-6189R60
RESOLUTION N0. 6189
RESOLUTION DESIGNATING CITY'S CONTRIBUTION
TOWARD HEALTH AND TERM LIFE INSURANCE PREMIUM
WHEREAS, a hospital-medical/surgical group health insurance plan is
available from the Hennepin County Cooperative Purchasing Organization
for city employees and their families; and
WHEREAS, a term life and accidental death and dismemberment insurance
plan is available from the Hennepin County Cooperative Purchasing Organization
for city employees; and
WHEREAS, the city council is required to determine by resolution the
city's contribution toward the premium for health insurance.
NOW, THEREFORE, BE IT RESOLVED that the city shall contribute a maximum
of $83.00 per month toward an employee health insurance premium for all
non-unionized employees; in any event said contribution shall not exceed the
cost of single coverage for employees selecting that option. The city shall
also pay $1.10 monthly premium for the term life and accidental death and
dismemberment insurance plan for city employees for a total possible maximum
insurance premium contribution of $84.10 per month. Such contributions shall.
be for coverage effective January 1, 1980.
BE IT FURTHER RESOLVED that the city council shall determine the city's
contribution toward insurance premiums for all organized employee groups by
the adoption of the approp~'iate resolutions concerning labor contracts with
the respective organized employee groups.
Passed by the City Council of the City of Richfield, Minnesota this
27th day of .December, 1979.
ATTEST:
w
Sy a K. Bergh Acting Ci y Clerk
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60A
RESOLUTION NO. 6189A
RESOLUTION GIVING PRELINIIr?ARY APPROVAL TO A
PROJECT UNDE?2 THE n4UNICIPAL INDUSTRIAL
DEVELOPr'[ENT ACT; REFERRING THE PROPOSAL TO
THE COMMISSIOI`?ER OF SECURITIES FOR APPROVAL;
AP1D AUTHORIZING EXECUTION OF A MEr~ORAD?DUr [ OF
AGREEPZENT AND PREPARP.TION OF NECESSARY DOCUr~IET_?TS
BE IT RESOLVED By the City Council of the City of Richfield,
binnesota, as follows:
1. It is hereby found, determined and declared as follows:
1.1 The welfare of the State. of Minnesota reaui:res active
promotion, attraction, encouragement and development of economically
sound industry and commerce through governmental acts to prevent,
so far as possible, emergency of blighted lands and areas of
chronic unemployment, and the state has encouraged local govern-
ment units to act to prevent such economic deterioration.
t .,
1.2 Lyndale Fruit and Vegetable Inc., a r~~!innesota corporation
(hereinafter the "Company"), has advised this Council of its
desire to acquire and improve land and to construct and equip..
thereon additional facilities for and the expansion of the Lyndale
Gardens facility for use in its business of the retail sale of
agricultural products.
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1.3 The existence of the Project within the City would
significantly increase the tax base of the City, County and
school district in which the City is located, and would provide
opportunities for employment for residents of the City and
surrounding area.
1.4 The City has been advised by the Company that conventional,
commercial financing to pay the capital cost of the Project is
available only on a limited basis and at such high costs of
borrowing that the economic feasibility of operating the Project
caould be significantly reduced, but that with the-aid of_ municiapl
financing, and its resulting low borrowing cost, the Project
is economically more feasible.
1.5 This Council has been advised by Dougherty, Dawkins,
Strant & Ekstrom Incorporated, investment bankers, that on the
basis of information submitted to them and their discussions with
representatives of the Company that bonds to finance all or
part of the cost of the Project can be successfully sold.
1.6 The City is authorized by Pinnesota Statutes, Chapter 474,
to issue its revenue bonds or other obligations {the "Bonds") to
finance capital projects consisting of properties used and useful
in conection with a revenue producing enterprise, such as that
of the Company, and the issuance of such Bonds by the City would be
a substantial inducement to the Company to construct its facility
within the City.
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2. On the basis ofiinformation given the City to date,
it appears that it would'Ibe in-the best interest o:~-the City
~ to issue its industrial development revenue Bonds under the
provisions of Chapter 474 to finance the Project of the Company
at a cost presently estimated to be approximately $1,500,000.
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3. The Project above referred to is hereby given preliminary
approval by the City and'ithe issuance of Bonds for such purpose
and in such amount approved, subject to approval of the Project
by the Commissioner of Securities of. the State of Minnesota and
to the mutual agreement 'of this body, the Company and the initial
purchasers of the Bonds as to the details of the bond issue and
provisions for its payment. In all events, it is understood,
- however, that the Bonds ~~hall not constitute a charge, lien-or
encumbrance. legal or equitable upon .any property of the City
except.the .Project, and~each Bond, when, as and if is-sued,
shall recite in substance that the bond, including interest
thereon, is payable solely from the revenues received from the
Project and properly pledged to the payment thereof, and shall
not constitute a debt ofjthe City within the meaning of any con-
stitutional, charter or statutory limitation thereon.
4. The form of Memorandum of Agreement relating to the
issuance of the Bonds toyfinance the cost of the Protect is
hereby approved, and the'Mayor and City Manager are hereby
authorized and directed to execute the }~;emorandum of Agreement
in behalf of the City.'
C.:
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5. In accordance. with. Minnesota Statutes, Section 474.01,
Subdivision 7A, the Mayor and City Manager are authorized and
directed to submit the proposal for the Project to the Commissioner
of Securities for approval. The Mayor, City Clerk, City D~anager~
City Attorney and other officers, employees, and agents of the
City and Messrs. LeFevere, Lefler, Pearson, O'Brien & Drawz, as
bond counsel, are herebyauthorized to provide the Commissioner
-with any preliminary information needed for this purpose, and
the City Attorney is authorized to initiate and assist in the
preparation of such documents as may be appropriate to the
Project, if it is approved by the Commissioner.
Passed by the City Council of the City o~ Richfield,
Minnesota, this 27thday of December 1979.
Loren L. aw Mayor
ATTEST:
~:,:
Syl Berg Acting C Clerk