Agenda - Council - 06/30/1986 - Laserfiche WebLink

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3.05 The Council further finds that the establishment of Tax Increment Financing District No. 2 and the approval and adoption of the Tax Increment Financing Plan relating thereto is intended and, in the judgment of the Council, its effect will be to promote the public purposes and accomplish the objectives specified in the Tax Increment Financing Plan. Section 4. Approval of the Proposed Development Program and Proposed Tax Increment Financing Plan. 4.0] The proposed modified Development Program for Develop- ment District No. 1 and the Tax Increment Financing Plan for Tax Increment Financing District No. 2 are hereby approved and adopted. 4.02 Tax Increment Financing District No. established. 2 is hereby 4.03 The geographic boundaries of enlarged Development District No. 1 and of Tax Increment Financing District No. 2 are described in the Development Program and Tax Increment Financing Plans therefor and are incorporated herein by reference. 4.04 The City Administrator is authorized and directed to transmit a certified copy of this resolution together with a certified copy of the Development Program and Tax Increment Financing Plan to the County Auditor of Anoka County with a request that the original assessed valuation of the Tax Increment Financing District be certified to the City pursuant to Section 273.76, Subd. 1 of the Tax Increment Financing Act and to file a copy of the Development Program and Tax Increment Financing Plan with the Minnesota Commissioner of Energy and Economic Develop- ment. 4.05 The City may at the appropriate time take action to issue and sell its general obligation bonds pursuant to the Tax Increment Financing Act to finance the public costs identified in the Tax Increment Financing Plan. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember , and upon vote being taken thereon, the following voted in favor thereof: and the following voted against the same: