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CITY OF NEW BRIGHTON COUNTY OF RAMSEY STATE OF MINNESOTA RESOLUTION N0.07-012 PROVING THE INTERFUND LOANS ASSOCIATED WITH TAX ~REMENT FINANCING DISTRICTS NOS. 30, 31 (NWQ SPECIAL W), 32 (NWQ SPECIAL LAW), 33 AND HAZARDOUS SUBSTANCE BDISTRICTS NOS. 31A and 32A IT RESOLVED by the City Council (the "Council") of the City of New Brighton, (the "City") as follows: 1. Recitals. .01. The City previously adopted Resolution No. 01-090 (Approving the Pre-August 1, 2001 erfund Loans Associated with the Northwest Quad in the City of New Brighton) on Nove er 27, 2001 and Resolution No. 01-092 (Approving the Post-August 1, 2001 Interfund Loans ssociated with the Northwest Quad in the City of New Brighton) on the same date (the "NW ad Loan Resolutions"). .02. The NW Quad Loan Resolutions (i) identified the area (the "NW Quad") in which variou osts (the "Qualified Costs") were to be incurred, (ii) approved prior advances as well as future vances, (iii) approved terms of the loans, (iv) stated the City's intent to create one or more tax inc ment districts to reimburse itself for Qualified Costs and (v) provided a process for tracking advanc (a "Register of Advances" or "Register"). .03. Since adoption of the NW Quad Loan Resolutions, the City has established the ;tax increment financing districts to assist with the reimbursement of Qualified Costs: A. Tax Increment Financing District Na. 30 approved November 25, 2003 and December 14, 2004 and December 13, 2005. B. Tax Increment Financing District Na. 31 (NWQ Special Law) approved 14, 2004 and modified December 13, 2005. C. Hazardous Substance Subdistrict 31 A approved December 13, 2005. D. Tax Increment Financing District No. 32 (NWQ Special Law) approved 13, 2005. E. Hazardous Substance Subdistrict 32A approved December 13, 2005.