81-11A
r
e
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
RESOLUTION
Date: April 20, 1981
Motion by Councilmember Swenson
Resolution No. 8l-11A
Seconded by Councilmember Horn
AMENDMENT OF RESOLUTION 81-07 FOR THE
ESTABLISHMENT OF INDUSTRIAL DEVELOPMENT REVENUE FINANCING CRITERIA
BE IT RESOLVED, by the City Council of the City of Chanhassen,
that Section 9 of the PROCEDURE section of Resolution 81-07 be amended
to read as follows:
.
Section 9. Upon aqrissuance and sale of the debt
obligation, whether in the form of bonds, a mortgage
revenue note or similar obligation, the applicant shall pay to
the Ci ty an administrative fee of one-half o.f one percent of
the principal amount of the obligation to reimburse the
City for debt administration expenses over the term of
the bond issue, less any amount heretofore paid by
the applicant under the provisions of Section 8 hereof.
Passed and adopted by the City Council of the City of
Chanhassen this 20th day of April, 1981.
2l
Attest:
({); 01L~
City Clerk Manager
Yes
Hamilton
Neveaux
Geving
Swenson
Horn
No
None
Absent
None
e