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Section 1. Background; Findings. <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br />RESOLUTION NO. <br />RESOLUTION APPROVING A SPENDING PLAN FOR TAX INCREMENT <br />FINANCING DISTRICTS NO. 1 AND NO. 2 IN THE CITY <br />BE IT RESOLVED by the City Council (the "City Council ") of the City of Ramsey (the <br />"City "), Anoka County, Minnesota as follows: <br />(a) The City has previously established Tax Increment Financing Districts No. 1 and <br />No. 2 (the "TIF Districts ") and adopted the tax increment financing plans therefor (the "TIF <br />Plans "). <br />(b) The City has developed a Spending Plan for the TIF Districts in accordance with <br />Minnesota Statutes, Section 469.176 Subd. 4m (the "Spending Plan ") to utilize existing tax <br />increment revenues from the TIF Districts in order to stimulate construction or rehabilitation of <br />private development in a way that will also create or retain jobs. <br />(d) The City has performed all actions required by law to be performed prior to the <br />approval of the Spending Plan, including, but not limited to, causing notice of a public hearing to <br />be published and holding a public hearing on the date hereof on the adoption of the Spending <br />Plan. <br />(b) The City is hereby authorized to carry out the terms of the Spending Plan in such <br />manner as it determines to be consistent with the TIF Plans and in accordance with Minnesota <br />Statutes, Section 469.176 Subd. 4m. <br />Dated: <br />ATTEST: <br />Section 2. Approval of the Spending Plan. <br />(a) The Spending Plan for the TIF Districts, is hereby approved. <br />Adopted: <br />Mayor <br />