DISCLAIMER

 

06-0012R


RESOLUTION AUTHORIZING ACCEPTANCE OF TRANSFER OF IDB FEES RESULTING FROM THE SMDC PROJECT FROM DEDA.

BY COUNCILOR STEWART:

     RESOLVED, that the proper city officers are hereby authorized to accept the transfer from the Duluth economic development authority (DEDA) of all industrial development bond fees, when and as received by DEDA, which are paid to DEDA by the St. Mary’s/Duluth Clinic Health System resulting from the issuance by DEDA of industrial development bonds for the benefit of the St Mary’s/Duluth Clinic Health System Digestive Disease/Cancer Center project, all said sums to be deposited in Debt Service Fund 320.


STATEMENT OF PURPOSE:  This resolution authorizes the city to accept the transfer from DEDA of all of the IDB fees received by DEDA from the issuance by DEDA of industrial development bonds to assist in funding of the new SMDC clinic project. This transfer is in accordance with the budgets previously presented to the council and to DEDA.