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<br />. <br />< <br /> <br />., <br /> <br />, <br /> <br /><: <br /> <br />:':. ~ <br /> <br />" <br />~ <br /> <br />'V <br />" .. <br />r <br /> <br />j , <br /> <br />Council Member La r s on introduced the following resolution, the reading of <br />which was dispensed with by unanimous consent, and moved its adoption: <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO.98 -047 <br /> <br />A RESOLUTION MODIFYING THE DEVELOPrvIENT PROGRAM FOR <br />DEVELOPl'v1ENT DISTRICT NO.1, MODIFYING THE TAX INCREMENT FINANCING <br />PLANS FOR TAX INCREMENT FINANCING DISTRICTS NOS. 1 - 20 AND 23 - 26, <br />CREATING TAX INCREMENT FINANCING DISTRICT NO. 27 AND ADOPTING TIffi <br />TAX INCREMENT FINANCING PLAN 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 District No. 1 <br />(the "Project Area") reflecting increased geographic area, increased project costs and increased <br />bonding authority, pursuant to and in accordance with Minnesota Statutes, Sections 469.124 to <br />469.134, inclusive, as amended and supplemented from time 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 TIF Plans") for Tax <br />Increment Financing Districts Nos. 1 - 20 and 23 - 26 (the "Existing TIP Districts") reflecting <br />increased geographic area, increased project costs and increased bonding authority within the <br />Project Area, pursuant to Minnesota Statutes, Section 469.174 to 469.179, inclusive, as <br />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. 27 (the "Proposed TIP District") and approve and adopt the <br />proposed Tax Increment Financing Plan (the "Proposed TIP Plan") relating thereto, pursuant to <br />and in accordance with Minnesota Statutes, Section 469.174 to 469.179, inclusive, as amended <br />and supplemented from time to time. <br /> <br />1.04. The Council has caused to be prepared and has investigated the facts with respect <br />thereto, a modified Program for the Project Area and modified Existing TIP Plans for the <br />Existing TIF Districts reflecting increased geographic area, increased project costs and <br />