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"City Development District Act" or "Act" means Minn. Stat., Sections 469.124 <br />through 469.134, as amended. <br /> <br />"County" means Anoka County, Minnesota. <br /> <br />"Development District" means Development District No. 1. <br /> <br /> "Development Program" or "Program" means the program for development of the <br />Development District adopted by the City pursuant to the Development District Act; <br />synonymous with the term "Project Plan". <br /> <br />"EDA Act" means Minn. Stat, Section 469.090 to 469.108, as amended. <br /> <br /> "Project Area" or "Project" means the property within Development District No. 1, <br />as described in the Development Program. <br /> <br />"Project Plan" means the Development Program for the Development District. <br /> <br />"State" means the State of Minnesota. <br /> <br /> "Tax Increment Financing Act" or "TIF Act" means Minn. Stat., Sections 469.174 <br />through 469.179, inclusive, as amended, formerly codified at Sections 273.71 to 273.78. <br /> <br /> "Tax Increment Bonds" or "TIF Bonds" means any general obligation or revenue tax <br />increment bonds, notes or other obligations issued by the City to finance the public costs <br />associated with Development District No. 1 as stated in the Program and in the Tax <br />Increment Financing Plans for the Tax Increment Financing Districts within Development <br />District No. 1, or any obligations issued to refund the Tax Increment Bonds. <br /> <br /> "Tax Increment Financing District" or "TIF District" means any Tax Increment <br />Financing District created and established pursuant to the TIF Act within Development <br />District No. 1. <br /> <br /> "Tax Increment Financing Plan" or "TIF Plan" means the TIF Plan adopted by the <br />Council for any TIF District within Development District No. 1. <br /> <br />C. Statutory_ Authofi .ty. <br /> <br /> The City has determined that it is necessary, desirable and in the public interest to <br />modify the Development Program for the Development District, pursuant to the provisions <br />of the Act. The City has also determined that the funding of the necessary activities and <br />improvements in Development District No. 1 shall be accomplished in part or in whole <br />through tax Increment financing in accordance with the TIF Act. <br /> <br />SIB-151910 <br />RA125-52 2 <br /> <br /> <br />