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• Council Member introduced the following resolution, the reading of which was <br /> dispensed with by unanimous consent, and moved its adoption: <br /> CITY OF NEW BRIGHTON <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> RESOLUTION NO. <br /> • <br /> A RESOLUTION EXTENDING THE EXPECTED DURATIONS OF <br /> TAX INCREMENT FINANCING DISTRICTS NOS. 1 - 10 AND NOS. 12 - 15 <br /> BE IT RESOLVED by the City Council (the "Council") of the City of New Brighton(the <br /> "City") as follows: <br /> Section 1. Recitals. <br /> 1.01. The Council established its Development District No. 1 (the "Project Area") and <br /> adopted its Development Program (the "Program") on December 22, 1981. <br /> 1.02. The Council created Tax Increment Financing District No. 1 within the Project <br /> Area and approved and adopted a Tax Increment Financing Plan relating thereto on December <br /> 22, 1981, at which time the duration of the tax increment financing district was expected to be <br /> sixteen (16)years from receipt of the first anticipated tax increment in 1984, thereby designating <br /> a termination date of December 31, 2000, pursuant to Section II, Subsection 2.12. of the tax <br /> increment financing plan. <br /> 1.03. The Council created Tax Increment Financing District No. 2 within the Project <br /> Area and approved and adopted a Tax Increment Financing Plan relating thereto on December <br /> 22, 1981, at which time the duration of the tax increment financing district was expected to be <br /> sixteen(16)years from receipt of the first anticipated tax increment in 1984, thereby designating <br /> a termination date of December 31, 2000, pursuant to Section III, Subsection 3.12_ of the tax <br /> increment financing plan. <br /> 1.04. The Council created Tax Increment Financing District No. 3 within the Project <br /> Area and approved and adopted a Tax Increment Financing Plan relating thereto on December <br /> 22, 1981, at which time the duration of the tax increment financing district was expected to be <br /> sixteen (16)years from receipt of the first anticipated tax increment in 1984, thereby designating <br /> a termination date of December 31, 2000, pursuant to Section IV, Subsection 4.12. of the tax <br /> increment financing plan. <br /> • <br />