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98-057
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98-057
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7/15/2005 10:16:41 AM
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<br />,.. <br /> <br />.. <br /> <br />'. <br /> <br />~ <br /> <br />Council Member S.<l mlJ E' 15 on introduced the following resolution, the reading of which was <br />dispensed with by unanimous consent, and moved its adoption: <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MlNNESOTA <br /> <br />RESOLUTION NO. gg-OS7 <br /> <br />A RESOLUTION EXTENDING THE EXPECTED DURATIONS OF <br />TA..~ INCREMENT FINANCING DISTRICTS NOS. 1 - 10 AND NOS. 12 - 15 <br /> <br />BE IT RESOLVED by the City Council (the "Council") of the City of New Brighton (the <br />"City") as follows: <br /> <br />Section 1. Recitals. <br /> <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 /> <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 /> <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 /> <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 fmancing plan. <br />
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