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<br />-~, <br /> <br />I', <br />11 :' <br />,I I. <br />'I - <br /> <br />.f> <br /> <br />Council Member Moore-Sykes introduced the following resolution, the <br />reading of which was dispensed with by unanimous consent, and moved its <br />adoption: <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 04.105 <br /> <br />A RESOLUTION MODIFYING THE DEVELOPMENT PROGRAM FOR <br />DEVELOPMENT DISTRICT NO. 1 AND THE TAX INCREMENT FINANCING <br />PLANS FOR TAX INCREMENT FINANCING DISTRICTS NOS. 2,5-12,14-20,23 <br />AND 25-30, CREATING TAX INCREMENT FINANCING DISTRICT NO. 31 (NWQ <br />SPECIAL LAW) AND ADOPTING A TAX INCREMENT FINANCING PLAN <br />RELATING THERETO. <br /> <br />BE IT RESOLVED by the City Council (the "Council") of the City of New Brighton, <br />Minnesota (the "City"), as follows: <br /> <br />Section 1. Recitals. <br /> <br />1.01. It has been proposed that the Council approve and adopt the proposed <br />modifications to the Development Program (the "Program") for Development <br />District No. 1 (the "Project Area") to reflect increased project costs and increased <br />bonded indebtedness, pursuant to and in accordance with Minnesota Statutes, <br />Sections 469.124 to 469.134, inclusive, as amended and supplemented from time <br />to time. <br /> <br />1.02. It has been proposed that the Council approve and adopt the proposed <br />modifications to the Tax Increment Financing Plans (the "Existing Plans") for Tax <br />Increment Financing Districts Nos. 2, 5-12, 14-20, 23 and 25-30 (the "Existing <br />Districts") to reflect increased project costs and increased bonded indebtedness <br />within the Project Area, pursuant to Minnesota Statutes, Sections 469.174 to <br />469.1799, inclusive, as amended and supplemented from time to time. <br /> <br />1.03. It has been proposed that the Council approve the creation of proposed Tax <br />Increment Financing District No. 31 (NWQ Special Law) (the "Proposed District") <br />within the Project Area and approve and adopt the proposed Tax Increment <br />Financing Plan (the "Proposed Plan") relating thereto, pursuant to and in <br />accordance with Minnesota Statutes, Sections 469.174 to 469.1799 and Laws of <br />Minnesota 1998, Chapter 389, Article 11, Section 24 (the "Special Law"), both <br />inclusive, as amended and supplemented from time to time. <br /> <br />, 'I <br />