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87-915 P NIVE -�F�NA CERK SANARV"- DEPARTMENT G I TY OF SA I NT PA LJ L COUIICIl //�� BLUE - MAVOR le NO. ���� � cil Resol io � , �, •.�. Presented By Referre o � Committee: at Out of Committee By • Date A RESOLUTION SUPPORTING STATE EFFORTS TO PREVENT A HOSTILE TAKEOVER OF THE DAYTON-HUDSON CORPORATION WHEREAS, the Dayton-Hudson Corporation has been a long-standing member of the St. Paul community that has provided a wide range of employment opportunities to residents at many skill levels; and WHEREAS, the Dayton-Hudson Corporation has worked in partnership with St. Paul to make this city a better place to live; and WHEREAS, the Dayton-Hudson Corporation has indicated its long-term commitment to this city as evidenced by investment in new construction of Dayton' s and Target stores; and WHEREAS, efforts may be underway to purchase controlling interests in Dayton-Hudson Corporation by companies or individuals who have a history of hostile takeovers; and WHEREAS, a hostile takeover of the Dayton-Hudson Corp. c:ould result in the sale of corporate holdings, a change in management, a change in commitment to the City of St. Paul and the Sta�t� of Minnesota, the loss of employment and the loss of quality employment opportunities; now, therefore, be it RESOLVED, that the Council of the City of St. Paul encourage� the Governor and the Legislature of the State of Minnesota to make every effort to prevent a hostile takeover of the Dayton-Hudson Corporation; and be it further COU[VCILMEN Yeas Nays Requested by Department of: In Favor __ Against BY — . Form Approved by City Attorney Adopted by Council: Date — Certified Passed by Council Secretary BY By Approved by A�layor: Date _ Approved by Mayor for Submission to Council By _ — BY WHI7E - C'�TV CLERK COURCII j PINIM --FfNANCE (�I TY O F SA I NT PA IT L / C'ANARV 1 DEPARTMENT BLUE - MAVOR File �0. ���" Council Resolution Presented By Referred To Committee: Date Out of Committee By Date RESOLVED, that the Council of the City of St. Paul supports the calling of a special legislative session for the purpose of adopting legislation to prevent hostile takeovers of any Minnesota corporation, if it is determined necessary. COUNCILMEN Requested by Department of: Yeas Nays Drew �z��,�x�,cyt� [n Favor �4coa+�a � �►�e1�+ - -- Against BY — So�nen Ted�sco Wilson JUN 2 � �$7 Form Approved by City Attorney Adopted by Council: Date — Certified Vas ncil S t By By Approv Mayor: Da � 2 � ��i� Approved by Mayor for Submission to Council g _ By Ptl(�ISI�1 J U L 3 198?