01-0913R

RESOLUTION APPROVING DEDA PAYMENT TO LAKE SUPERIOR CENTER AUTHORITY PURSUANT TO DEDA RESOLUTION 01D-58.

BY COUNCILOR STENBERG:

        RESOLVED, that pursuant to Resolution No. 99-0239, the payment by the Duluth economic development authority (DEDA) to the Lake Superior Center authority in the amount of $286,000, as approved by the DEDA board at its meeting of December 11, 2001, pursuant to DEDA Resolution No. 01D-58 and the assurance agreement entered into between DEDA and the state of Minnesota dated December 15, 1998, copies of which are on file in the office of the city clerk as Public Document No. ___, is hereby approved.



STATEMENT OF PURPOSE:  The purpose of this resolution is to approve the payment by DEDA to the Lake Superior Center authority for cost overruns relating to construction of the Great Lakes Aquarium pursuant to the requirements of Resolution 99-0239.