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CITY OF PEQUOT LAKES <br /> CROW WING COUNTY <br /> STATE OF MINNESOTA <br /> Council member introduced the following resolution and moved its adoption: <br /> RESOLUTION NO. <br /> RESOLUTION ADOPTING A MODIFIED POLICY AND <br /> CRITERIA FOR GRANTING BUSINESS SUBSIDIES <br /> BE IT RESOLVED By the City Council ("Council') of the City of Pequot Lakes, Minnesota <br /> ("City")as follows: <br /> Section 1. Recitals. <br /> 1.01. Minnesota Statutes, Sections 1161993 through 1161995 (the "Act") requires the <br /> adoption of a policy and criteria for the granting of business subsidies as defined in the Act;and, <br /> 1.02. The City has determined that it is necessary and appropriate to adopt a modified business <br /> subsidy policy and criteria(the"Policy")pursuant to the Act; and, <br /> 1.03. The City has performed all actions required by law to be performed prior to the adoption <br /> and approval of the Policy, including the holding of a public hearing upon published notice on August 7, <br /> 2007,as required by law. <br /> Section 2. City Anroval;Further Proceedings <br /> 2.01. The Policy, attached as Exhibit A hereto, is hereby approved, ratified, established, and <br /> adopted and shall be placed on file at City Hall. <br /> 2.02. The City Clerk is authorized and directed to file a copy of the Policy, along with annual <br /> reports,with the Minnesota Department of Employment and Economic Development,pursuant to the Act. <br /> The motion for the adoption of the foregoing resolution was duly seconded by Council member <br /> ,and upon a vote being taken thereon,the following voted in favor thereof- <br /> and the following voted against the same: <br /> Dated: August 7,2007 <br /> ATTEST: <br /> Cathy Malecha,Mayor Sandra A.Peine,City Clerk <br /> (Seal) <br />