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Winsted City Council Minutes

SPECIAL MEETING

FEB. 27, 2001

CITY HALL

7 P.M.

Present: Don Guggemos, Tom Ollig, Tom Wiemiller

Staff: Fran Eggert, Matt Podhradsky, Betty Zachmann, Two other persons

Absent: Gary Lenz, Bonnie Quast Two other persons

Mayor called for the Special Meeting as published.

Purpose of the meeting was to act on a request from Natural Nutrients of Minnesota (Natura Chem) to support Industrial Revenue Bonds.

Bob Salazar, President and Jerry Roberts, Mgr., were present to review with the Council, the company concept, use of the existing DFA building, ethanol plant by product, and usable product from their company.

After discussion and questions were answered by those present, Ollig motioned to adopt Resolution No. 354-02-27-01, Reciting a proposal for a small issue industrial development project, giving preliminary approval to the project, and authorizing the submission of the proposal for the project to the Commissioner of the Department of Trade and Economic Development Authority. Wiemiller seconded, unanimously carried.

Wiemiller motioned to close the public hearing, Ollig seconded, unanimously carried.

Podhradsky then asked for the deposit for administrative fees associated with the project, a $60,000 refundable reimbursement fee, and $1200 for fees which may be incurred by the City. Natura Chem then offered to have all fees billed directly to them from bond counsel.

Wiemiller motioned to adjourn, Ollig seconded, unanimously carried.

Betty Zachmann, City Clerk-Treasurer


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