Agenda - Council - 03/24/1998 - Laserfiche WebLink

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DRAFT 3/18/98 (r) District. Tax Itlcrement. The tax increments produced by increases in the valuation of property in the TIF (s) ,Tax Increment Bonds ("TIF B0~a0~"). The general obligation tax increment bonds issued by the City to finance the Site Improvements on the Development Property and related costs: The term also includes any bonds or obligations issued to refund any TIF Bonds. (t) Tax Increment Financing District ("TIF District"). TIF District No. 2 created by the City pursuant to M.S. §469.174 through §469.179 and described irt the TIF Plan adopted therefore. (u) Tax.Increment Financing Plan ("Plan"). The plan for development of the TIF District adopted by the City pursuant to M.S. §469.174 through §469.179, (v) Unavoidable Delays. Delays beyond the reasonable control of the party seeking to be excused as a result thereof, which are the direct result of strikes, other labor troubles, fire or other casualty to the Minimum Improvements, litigation commenced by third parties which, by injunction or other similar judicial action, directly results irt delays, or acts of any federal, state or local governmental unit (other than the City in exercising its rights under this Agreement) which directly result in delays. (w) Other Terms. Terms defined in other sections of this agreement have the meanings given them. Section 1.2. Agreement: Exhibits. The following Exhibits are attached to and, by reference, made a part of this B. C. D. E. F. G. H, Legal Description of Development Property Construction Plans Development Permit Assessment Agreement and Certificate of County Auditor Certificate of Completion Lien Agreement License Agreement Agreement to Pay Deficiencies Section 1.3. Rules of Interpretation. (a) Minnesota. This Agreement shall be interpreted in accordarice with and governed by the laws of the State of (b) The words "herein" and "hereof' and words of similar import, without reference to any particular section or subdivision, refer to this Agreement as a whole rather than any particular section or subdivision hereof. (c) References herein to any particular section or subdivision hereof are to the section or subdivision of this Agreement as originally executed. (d) Any titles of the several parts, articles, and sections of this Agreement are inserted for convenience and reference only and shall be disregarded in construing or interpreting any of its provisions. Page 4 I I I I I I I I I I I I I I I I ! I