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<br />l' , <br /> <br />.) . <br /> <br />\~ <br /> <br />Council MemberLarson introduced the following resolution, the reading of which <br />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 />RESOLlITIONNO. 98-046 <br /> <br />A RESOLUTION MODIFYING THE DEVELOPMENT PROGRAM FOR DEVELOPMENT <br />DISTRICT NO.1, MODIFYING THE TAX INCREMENT FINANCING PLANS FOR TAX <br />JNCRE'MENT FINANCING DISTRICTS NOS. 1 - 20, 23, and 25 - 27, CREATING TAX <br />INCREMENT FlNANCING DISTRICT NO. 28 AND ADOPTING THE TAX INCREMENT <br />FWANCJNG PLAN RELATING THERETO. <br /> <br />BE IT RESOLVED by the City Council (the IICouncilll) 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 modification <br />to the Development Program (the "Program") for Development District No.1 (the IIProject Area") <br />reflecting increased project costs and increased bonding authority, pursuant to and in accordance <br />with Minnesota Statutes, Sections 469.124 to 469.134, inclusive, as amended and supplemented <br />from time to time. <br /> <br />1.02. It has been proposed that the Council approve and adopt the proposed modifications <br />to the Tax Increment Financing Plans (the "Existing TIP Plans") for Tax Increment Financing <br />Districts Nos. 1 - 20, 23, and 25 - 27 (the "Existing TIP Districts") reflecting increased project <br />costs and increased bonding authority within the Project Area, pursuant to Minnesota Statutes, <br />Section 469.174 to 469.179, 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. 28 (the "Proposed TIP Distrid') 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 Existing <br />TIP Districts reflecting increased project costs and increased bonding authority within the Project <br />