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"- .. , . '. -' property included in Tax Increment District No. 4 shall be the property described in the Financing Plan approved in Section 4 hereof. Section 3. Adoption of Financing Plans for Tax Incre- ment District No.4. 3.01. The this date, is placed on file nancing Plan is Financing Plan presented to the Council on hereby approved and adopted and shall be in the office of the City Clerk. The Fi- in the form attached hereto. Section 4. Implementation of Financing Plan. 4.01. The officers of the City and the Cityls legal counsel and bond counsel are authorized and directed to proceed with the implementation of the Financing Plan and, for this purpose, to negotiate, draft, prepare and present to this Council for its consideration all further plans, resolutions, documents and contracts necessary for this purpose. Section 5. Certification of Assessed Value. 5.01. The Director of Taxation and Records Administra- tion of Ramsey County (the "County AUdi tor") is hereby re- quested to certify the original assessed value of all real property within Tax Increment District No. 4 as described in the Financing Plan as of the date of the request by the City for certification by the County Auditor, and each year here- after to certify the amount by which the assessed value has increased or decreased from the assessed value said date and also to certify the proportion which any such increase or decrease bears to the total assessed value for the real property in Tax Increment District No. 4 for that year and also to remit to the City of New Brighton each year, com- mencing on the date indicated in the Financing Plan, respectively, that proportion of all taxes paid that year on real property in Tax Increment Distr ict No. 4 which the captured assessed value bears to the total current assessed value, all pursuant to Minnesota Statutes, Section 273.76. - 3 -