Agenda - Council - 05/09/1989 - Closed Executive Session and Regular

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Hemb er introduced the following resolution and moved ~ts adoption: CITY OF RAMSEY RESOLUTION NO. RESOLUTION CALLING FOR A PUBLIL HEARING ON THE ADOPTION OF A TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 5 k~EREAS, the City Council by prior action has established Development District No. 1 (Development District) pursuant to Minnesota Statutes, Sections 469.124 through 469.134 and has established several tax increment financing districts within Development District No. 1 pursuant to Minnesota Statutes, Sections 469.174 through 469.179; and WHEREAS, the City Council believes it is necessary to_ establish Tax Increment Financing District No. 5 within the Development District. NOW, THEREFORE, BE IT RESOLVED By the City Council of the City of Ramsey, Minnesota as follows: The City Administrator is hereby authorized and directed to cause to be prepared a Tax Increment Financing Plan (Plan) for TIF District No. 5 and to file a copy thereof in city hall. The City Administrator is hereby authorized and directed to submit the Plan to the school board and county for comment and to notify the same of the time and place of the hearing on the Plan to be held before the City Council. The City Administrator is authorized and directed to prepare a notice for publication in the official newspaper setting a public hearing before the City Council on the 23rd day of M~V , 1989, at 7:20 p.m. in the council chambers on the Plan. ~ne notice shall be published in the newspaper at least 10 but not more than 30 days prior to the public hearing. The City Administrator is authorized and directed to take all other actions necessary to bring the Plan before the City Council at the time of the public hearing.