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<br />3.03. The Council further finds that the establishment <br />of Tax Increment Financing District No. 8 and the approval <br />and adoption of the Tax Increment Financing Plan relating <br />thereto is intended and, in the judgment of this Council, <br />its effect will be, to promote the public purposes and <br />accomplish the objectives specified in the Tax Increment <br />Financing Plan. <br /> <br />Section 4. Findings for the Amendment of Tax Increment <br />Financing Districts No.1 Through No.7. <br /> <br />4.01. The Council hereby finds that the amendment of <br />Tax Increment Financing Districts No. 1 through No. 7 to <br />reflect the enlargement of Development District No. 1 is <br />intended and, in the judgment of this Council, its effect <br />will be, to incorporate the amount of projected development <br />costs and bonded indebtedness of the proposed Tax Increment <br />Financing District No. 8 throughout Tax Increment Financing <br />Districts No.1 through No.7 as well. <br /> <br />4.02. The Council further finds that the amendment of <br />Tax Increment Financing Dist r icts No. 1 through No. 7 is <br />intended and, in the judgement of this Council, its effect <br />will be, to promote the public purposes and accomplish the <br />objectives specified in the respective Tax Increment <br />Financing Plans for Tax Increment Financing Districts No. 1 <br />through No.7. <br /> <br />Section 5. Approval of the Modif ied Development Pro- <br />gram, Proposed Tax Increment Financing Plan and Amendment of <br />Tax Increment Financing Districts No.1 through No.7. <br /> <br />5.01. The Modified Development Program for Development <br />District No.1, as modified, the Tax Increment Financing <br />Plan for Tax Increment Financing Distr ict No.8, and the <br />amendment of Tax Increment Financing Districts No. 1 through <br />No. 7 are hereby approved and adopted and shall be placed on <br />file in the office of the Clerk-Treasurer. <br /> <br />Section 6. Certification of Assessed Value. <br /> <br />6.01. Upon approval of the Tax Increment Financing Plan <br />for Tax Increment District No. 8 by the City, the City <br />Economic Development Director shall request the Director of <br />Property Taxation of Ramsey County to certify the original <br />assessed value of all real property wi thin the applicable <br />parcels of Tax Increment District No.8, pursuant to Minne- <br />sota Statutes, Section 273.76. <br /> <br />The motion for the adoption of the foregoing resolution <br />was duly seconded by councilmember Janecek , <br /> <br />- 3 - <br />